US Debt ceiling explained in easy to understand...

I came across this great analogy on Facebook posted by one of my friends and had to share it with you, it’s too good not too. US budget debts/ceilings put into an easy to understand perspective…. Lesson # 1: U.S. Tax revenue: $2,170,000,000,000 Fed 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 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 so far: $38.50 Lesson # 2: Here’s another way to look…