The Debt Explained In Simple Terms

There are so many confusing explanations of the $14+trillion debt the United States is accumulating. Allow me try to explain it in a way even Congress might understand.

You are a person that earns approximately $200.00 a month. You are currently spending $333.00 a month for food , housing, electricity and clothing. In addition, you owe a credit card debt of $14,270 plus interest that is also due monthly. It appears to any sane person, you have to do something to increase your earnings or decrease your expenditures. 

If you take the numbers I just gave you and add 9 zeros to each number ( turns the numbers into billions or trillions as appropriate), you will see where our Federal Government is at this time.

We currently take in about $200 Billion a month in revenue

We currently spend  over $333 Billion monthly.

We have a National Debt of over $14.270 Trillion.( About 1/2 owed to Foreign Nations) 

If you can understand this and the need to act rationally, why can’t the Congress and the Administration understand and act?

2012 is coming!!!!

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About billmoore353

Retired LTC- USAR Former HS Principal- John A. Holmes HS in Edenton, NC Former HS Principal- Roosevelt HS in Yonkers, NY
This entry was posted in Budget, ECONOMY, Politics, Uncategorized. Bookmark the permalink.

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