I’m looking forward to seeing everyone on Tuesday, just two days before my birthday! (January 5th)
I thought you might find this information on our government’s debt issues:
It puts into a much better perspective why the U.S. credit rating was downgraded:
* 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: $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: $385
Happy History and I’ll see you on Jan. 2nd!
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