Cut now or pay later
The doom and gloom panic over the upcoming sequester budget cuts is almost humorous. If you believe President Obama and his media water-carriers, zombies will be loosed, mental patients will escape, planes will fall from the sky, schools and firehouses will be forced to close, and anarchy will reign in the suddenly lawless country. Of course, the fawning media is fanning the flames because whatever the White house spouts must be true according to them.
I found the following outline of the supposedly draconian cuts in a chat area and I think it spells out the reality very well. Too bad Congress and Obama can’t seem to stop their madness.
Budget Cuts for Dummies:
U.S. Tax revenue: $2,170,000,000,000 (Trillion)
Fed Spending: $3,820,000,000,000 (Trillion)
New debt: $1,650,000,000,000 (Trillion)
National debt: $16,420,000,000,000 (Trillion)
Recent budget cuts: $38,500,000,000 (as in Billion)
Proposed sequester cuts: 85,000,000,000
Now, let’s 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 Balance on the credit card: $164,200
Total budget cuts so far: —-$38.50
Proposed sequester cuts: –$85.00
Total cuts: ———————-$123.50 [From the $164,200 we owe.]
If any of us here in flyover country ran our personal budgets like Washington, we’d have been in the poorhouse long ago.
Submitted by Virtual Newsroom