It is predicted the Federal budget deficit will reach $1.65 trillion this year with a $14.1 trillion debt and about $2.1 trillion in income. Yet the House cannot reach agreement on spending cuts. The House Republicans want to only cut $60 billion in spending and the Democrats only want to cut spending $6.5 billion. If you were to scale this down into numbers people might be able to relate to it would look like the following.
If your family income were $50,000 then:
- Family debt is $335,700
- Family deficit is $39,300 (spending is $89,300/year)
- The head of household wants to cut $1,430 in yearly spending
- The spouse wants to cut $154.80 in yearly spending
Props to
Joe Huffman
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