“No man’s life, liberty, or property is safe, while Congress is in session.”
~ Mark Twain
“Praising Congress for the fiscal cliff deal is like giving an arsonist an award for putting out his own fire.”
~ Andy Borowitz … Borowitz Report
“I know what I pray for . . .
The strength to change what I can,
the inability to accept what I can’t,
. . and the incapacity to tell the difference.”
~ Bill Watterson…Calvin & Hobbes
Fiscal Cliff Simplified
Lesson # 1:
* U.S. Tax revenue: $2,170,000,000,000
* Fed spending: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let’s now remove 8 zeros and pretend it’s a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $38.50
Got It ??
Lesson # 2:
Here’s another way to look at the Debt Ceiling:
Imagine you come home from work and find
there has been a sewer backup in your neighborhood,
and your home has sewage piled up to the ceiling.
What do you think you should do . . ?
Raise the ceiling?
– or –
Remove the crap?
- Fiscal Cliff Put Into Perspective of a Household Income (johnsimonds.com)
- Fiscal cliff deal paves way for more congressional crisis (rawstory.com)
- How to End Congressional Meddling in the Debt Ceiling – Bloomberg (bloomberg.com)