"Does Your Family Spend 50% More Than It Earns?
America is a rich household that takes home $216,200 a year (estimated 2010 federal tax receipts). We are also a spendthrift household, throwing way $345,600 a year (estimated 2010 federal spending).
Those numbers alone should tell the tale pretty clearly. After all, how long could your family spend nearly 60% more than it earns before going bankrupt?
But let’s break it down further to show just how out of control things are, and see if we can find some ways to improve the family finances. Monthly, we take in about $18,016 for the bills. But our expenses break down along these lines."
Some folks seem to think I occasionally have interesting things to say. I don't always agree.
Sunday, July 10, 2011
The Federal Budget is not the same as a family budget
What if the U.S. Federal Budget Was Spending $200k a Year, Not $2.2T? | InvestorPlace:This kind of post pisses me off so much because it is not only an analogy failure, which is bad enough, but is fundamentally dishonest.
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