Lesson One and Lesson Two for President Obama
This anonymous piece just came across the transom. It is a lesson on Economics 101 for Barack Hussein Obama. It makes it easy for even a high school graduate to understand.
Why the United States was downgraded by the credit rating agency:
• U.S. tax revenue: $2,170,000,000,000
• Fed budget: $3,820,000,000,000
• New debt: $ 1,650,000,000,000
• National debt: $14,271,000,000,000
• Recent budget cuts: $ 38,500,000,000
Let’s now remove eight zeros from each line item to simplify matters and pretend it is 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: $142,710
• Total budget cuts: $385
By taking on $16,500 of debt and reducing spending by only $385, the household is spinning rapidly towards bankruptcy. Got it? That is exactly where the United States is heading.
Lessen #2 – Here’s another way to look at the Debt Ceiling:
Let’s say you come home from work and find there has been a sewer backup in your neighborhood … and your home has sewage all the way up to your ceilings. What do you think you should do?
1. Raise the ceilings or
2. Pump out the sewage.
Your choice is coming on November 6, 2012….
Hint: Pump out the swage or, in other words, vote out the stench in Washington, DC.
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