I don’t know about you, but when I start hearing or reading big dollar amounts like the current U.S. debt of $15 trillion, I find it hard to relate or grasp those figures. I’ve always been a lower middle class person who never made a lot of money.
I remember hearing one time about an athlete that signed a $10 million a year contract and thinking that I had no idea what that kind of money was like. I actually sat down and calculated how that broke down for a 40 hour a week job like real people work. When I saw that it equated $4,807.69 an hour I was lost. It just doesn’t seem real to me.
So when I read about the how much money the federal government takes in, how much they spend and such, I just know the numbers are BIG, but somehow they don’t seem real or something I find easy to understand. I’ve talked to a lot of people over the years that have admitted to feeling the same way about these numbers.
I got an email from a friend of mine, like so many of us do, but instead of hitting the delete button, there was something in the email that caught my eye. I know this email has gone around a few times and some of you may have seen it, but for those of you who haven’t, I think it puts the federal monies in an understandable way.
* 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
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 so far: $3.85
I don’t know about you, but I can relate to the second scenario. I can also see how this family won’t be in their house very long before it is foreclosed and they have to file bankruptcy. Now realize that this family is us – All Americans – and it may not be too much longer before our creditors demand payment and take over our house (country).
Just as a real family would find themselves in vital need of a credit counselor, our nation is in the same situation. We desperately need someone with good business experience that can take over, cut spending, reduce the deficit and get the country back on the right track. President Barack Obama is the problem, not a solution. He is the main problem. We need a proven businessman like Mitt Romney. He saved companies like Staples from what seemed certain death and made them profitable. He can do it again if given the chance.