Let’s take a look at fiscal year 2013′s projected numbers:
U.S. tax revenue requested: $2,900,000,000,000
Federal budget: $3,800,000,000,000
New debt (low estimate): $900,000,000,000
National debt: $16,443,000,000,000
Recent budget cuts: $15,000,000,000
Outstanding debt liabilities: $86,800,000,000,000
Found an updated one-
Now if you picture these numbers like a household budget by removing 8 zeroes, you’d get the numbers below:
Annual family income: $29,000
Family spending: $38,000
New debt in 2013: $9,000
Credit card debt: $164,430
Mortgage (on the future): $868,000
Cutting expenses: $150
Beyond this parable, there is the fact that the U.S. government has the largest tax-to-spending shortfall of any major developed nation.
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