[nidokidos] US Federal Budget

 

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US Federal Budget   The U.S. Congress sets a federal budget every year in the trillions of dollars. Few people know how much money that is. Below is a breakdown of federal spending in simple terms.   Put the 2011 federal budget into perspective:   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)   It helps to think about these numbers in terms that we can relate to.   Remove eight zeros from these numbers and assume this is a fictitious household budget;   Total annual income for the family : $ 21,700   Amount of money the family spent : $ 38,200   Amount of new debt added to the credit card : $ 16,500   Outstanding balance on the credit card : $142,710   Amount cut from the budget : $ 385   So in effect last month Congress, or in this example the family, sat down at the kitchen table and agreed to cut $385 from its annual budget.   What family would cut $385 of spending in order to solve $16,500 in deficit spending?   It is a start, although hardly a solution.   Now after years of this, the family has $142,710 of debt on its credit card (which IS the equivalent of the national debt).   You would think the family would recognize and address this situation, but it does not - Neither does Congress!!!!!!       Love, Rajendra

Will defense spending bankrupt the US?

Some are saying it is time for the US to cut its military spending and focus on domestic issues.

watch the report Will defense spending bankrupt the US?

http://www.nidokidos.org/threads/87032-Will-defense-spending-bankrupt-the-US

 

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