Thursday, January 10, 2013

Remove the Zeros

Here's a helpful way for us to understand the US debt issues.

US Tax revenue: $2,170,000,000,000
Federal budget: $3,820,000,000,000
New debt: $1,650,000,000,000
US National debt: $14,271,000,000,000
Recent budget cuts: $38,500,000,000

Now remove 8 zeros and pretend it is 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

Gold in New Zealand dollars: $1975.80 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $36.20 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
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