Fiscal Cliff explained

U.S. Tax Revenues: $2,170,000,000,000

Federal 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 remove 8 zeroes and pretend it is a household budget.

Annual Family Income: $21,700 Annual Spending by the Family: $38,200 New Debt on the Credit Card: $16,500 Outstanding Balance on the Credit Card: $142,710

Reduction in Expenses So Far: $385

Bottom line: Be afraid. Be very afraid.

Thanks to Gail for forwarding!