The Economy in Simple Terms

Lesson #1 The Federal Budget:

* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $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 from each of the figures 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

 Lesson #2 The Debt Ceiling:

Imagine that you come home from work and find there has been a sewer backup in your neighborhood, and your home has sewage all the way up to your ceilings. Would it make more sense to raise your ceilings, or pump out the crap?

 Keep this in mind when you vote.