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The Federal Budget Simplified

Below is a simple summary of the Federal Budget for 2012

  • U.S. Tax revenue........................: $  2,170,000,000,000 
  • Total Federal Spending..................: $  3,820,000,000,000 
  • New debt Taken This Year................: $  1,650,000,000,000 
  • Total 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 Family Spends This Year...........: $  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
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