U.S. debt in understandable terms
I was never a whiz kid at math and numbers so I can understand why folks may be confused with some of the numbers being bandied about in conjunction with the fiscal cliff debate (or lack thereof). A friend recently sent me an e-mail that simplified the issue for me. He compared the U. S. Government budget to a U.S. household budget by removing eight (8) zeros from the U. S. Government numbers. See what you think.
* 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
Got it? OK now lets move on to lesson #2: Understanding the Debt Ceiling. Pretend you come home one day and discover there has been a sewer back up in your neighborhood. Your house has sewage all the way up to the ceilings. What would you do next, raise the ceilings or remove the sewage?
Now, I think you and I can understand our country’s fiscal problems a little better. And if we can understand, then why can’t our elected officials understand and fix the problem?
Martin Pomphrey, Jr. M.D.
Columbus
The Dispatch Editorial Board is made up of publisher Peter Imes, columnist Slim Smith, managing editor Zack Plair and senior newsroom staff.
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