This information was found on the internet. The article notes that these numbers are from 2011. I believe this is still relevant if one used percentages. I believe most folks will be very surprised and clearly this is unattainable trajectory. This is “trillions” of dollars.
Some stats about the US government:
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: $385
Don Jordan
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