US Debt versus Family Debt ~ doing simple math

[Melensdad]

Here is a simple way to look at the current US debt.

• 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: $14,980,000,000,000
• Recent budget cut: $ 38,500,000,000

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: $149,800
• Total budget cuts: $385

 

[SShepherd]

that makes it too easy....

people will think it's not right because "we have the largest economy in the world"

 

[Melensdad]

This video has been posted before but its worth watching again.

It's difficult to understand the concept of the problem when we keep talking in billions and trillions. This is a fun little video that gives a good visual to the problem.
[ame="http://www.youtube.com/watch?v=cWt8hTayupE"]Obama Budget Cuts Visualization - YouTube[/ame]