US Govt spending vs Personal family spending (credit card, debt, interest)

[bbnetworking]

U.S. Tax revenue: $2,170,000,000,000
Federal budget: $3,820,000,000,000
New debt: $ 1,650,000,000,000
National debt: $16,975,000,000,000
Recent [April] budget cut: $ 38,500,000,000

Let’s 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: $169,570
Budget cuts: $385

[mary54mi]

Suicide an option? Oh perhaps that's exactly why Mr Obama doesn't seem to be interested.

[celcius]

Uh, no.

Comparing govt and personal spending is not even remotely valid. Sovereign debt is nothing like a credit card, and there is no personal spending multiplier. Totally useless and misleading info.

[Malibu Mike3]

Originally Posted by celcius

Uh, no.

Comparing govt and personal spending is not even remotely valid. Sovereign debt is nothing like a credit card, and there is no personal spending multiplier. Totally useless and misleading info.

Yep ... classic thread FAIL...