Bob McLain, the Forrest Gump of Broadcasting, stays on top of what's going on, and whether he sees the humerous side, or the serious side, he's not afraid to share it with you!
The Jones family budget
by bob mclain,posted Aug 5 2011 9:14AM
On yesterday's show I talked about the web posting I found. It's a simplified explanation of just how much money the U.S. owes and our plan to pay it down.
The U.S. Congress sets a Federal Budget every year that's in the trillions of dollars. few people know how much money that is so here's a breakdown on spending in June.
U.S. Income $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 cut $38,500,000,000 (About 1% of the budget.)
Think of it in terms we can relate to. I've removed 8 zeroes from the numbers and pretend this is the household budget for the "Jones" family.
Total Annual Income $21,700
Jones Family spending $38,200
New debt added $16,500
Current total debt owed $142,710
Amount cut from budget $385.
So in efefct last month Congress sat down at the kitchen table and like the Jones family agreed to cut $385 from it''s annual budget. They cut $385 in order to cut $16,500 in defecit spending. Will this work?
You tell me.
Outstanding Depiction of Real Finance Out of Control
There couldn't be a more realistic way of exressing how out of control out government really is.
umm, your analogy doesnt exactly work
How much is the Jones family paying for soldiers, weapons, and military bases?
I think the POINT is not what our government has to pay for, but that they are hypocritical in expecting American families to live within their means while they do just the opposite and expect us to pay for it. REAL PEOPLE spend what they have and do without what they can't afford. To do otherwise is to invite disaster, which is exactly what we're facing at a national level.