How not to budget.
This popped up on Facebook today. I have no idea where it came from, but if I find out I will add a link.
And we wonder why US credit was downgraded
The numbers leading S&P to downgrade U.S. Credit:
• 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 cut:______________________$38,500,000,000
Let’s remove 8 zeros and pretend this is 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
You can kinda see where the problem is.
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