Here is a short course on Understanding The United States Debt (101)
I recently ran across an analogy of the US debt and finance plan in a way we all can relate. Let me share the following.
Currently the US tax payers generate roughly $2,170,000,000,000 (Thats Trillion)
Our Federal budget is approx $3,820,000,000,000
Our new debt is approx $1,650,000,000,000
National debt of $14,271,000,000,000
Total budge cuts $38,500,000,000
Now let's remove some zeros and pretend this is a simple household budget.
Annual family income $21,700
Money family spends annualy $38,200
New credit card debt $16,500
Outstanding balance on credit card $142,710.00
Total budget cuts by family $385.00. Are you getting the picture ?
Here is another way to look at the debt ceiling. Let's say you come home from work one day and find there has been a major sewage backup and raw sewage is backed up all the way to the ceiling. What should you do?
1.Raise the ceiling?
2.Pump out the sewage?
Pretty simple isn't it!
If you are considering the sale or purchase of an Albuquerque, Rio Rancho or New Mexico home It would be my pleasure and an honor to serve you. Feel free to contact me, John McCormack via email, telephone or text so we can get better aquainted and discuss your paticular real estate goals.
Albuquerque Homes and Lifestyle Blog
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John McCormack Owner/Managing Broker, e-PRO
505-980-4576 / John@AlbuquerqueHomes.com
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