2011 US Federal Budget Deal
Federal Budget: $3,820,000,000,000 (3.82 Trillion)
Income: $2,170,000,000,000 (2.17 Trillion)
New Debt: $1,650,000,000,000 (1.65 Trillion)
Amount Cut: $38,500,000,000 (38.5 Billion) ? about 1% of the total budget.
National Debt Total: $14,271,000,000,000 before this years budget.
Harry Reid is calling this a ?historic amount?. The President said it is a ?historic deal?. John Boehner simply said, ?We?ve come to an agreement?.
Now, Let?s Put This In Perspective. It helps to think about these nurabers in terms that we can relate to.
Let?s remove eight zeroes from those nurabers and pretend this is a household budget for "Bob" .
Amount of money Bob spent this Year: $38,200 (his "budget")
Total income for Bob this Year: $21,700
Amount of new debt added to the credit card this Year: $16,500
Outstanding balance on the credit card: $142,710
New outstanding balance on credit card: $159,210
So last week, Bob sat down at the kitchen table and agreed to cut $385 from his yearly budget. A historic amount isnt it!
Federal Budget: $3,820,000,000,000 (3.82 Trillion)
Income: $2,170,000,000,000 (2.17 Trillion)
New Debt: $1,650,000,000,000 (1.65 Trillion)
Amount Cut: $38,500,000,000 (38.5 Billion) ? about 1% of the total budget.
National Debt Total: $14,271,000,000,000 before this years budget.
Harry Reid is calling this a ?historic amount?. The President said it is a ?historic deal?. John Boehner simply said, ?We?ve come to an agreement?.
Now, Let?s Put This In Perspective. It helps to think about these nurabers in terms that we can relate to.
Let?s remove eight zeroes from those nurabers and pretend this is a household budget for "Bob" .
Amount of money Bob spent this Year: $38,200 (his "budget")
Total income for Bob this Year: $21,700
Amount of new debt added to the credit card this Year: $16,500
Outstanding balance on the credit card: $142,710
New outstanding balance on credit card: $159,210
So last week, Bob sat down at the kitchen table and agreed to cut $385 from his yearly budget. A historic amount isnt it!