Probably the best i've ever seen this problem explained and pretty stunning to boot.Financial Statement of the United States of America:
* U.S. Tax revenue:$ 2,170,000,000,000
* Federal budget:$ 3,820,000,000,000
* New debt:$ 1,650,000,000,000
* National debt:$ 16,571,000,000,000
* Recent budget cuts:$ 38,500,000,000
Let's now 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
* Outstanding balance on the credit card:$ 165,710
* Total budget cuts so far:$ 385
But, it's comforting to know our President doesn't see us as having a spending problem, huh?
Excellent post "wowed".