If you want to understand the magnitude of the recent debt and budget reduction actions agreed to by Congress and the President, this non-partisan example really puts it in perspective.
U.S. income: $2,170,000,000,00
- 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 percent of the budget)
It helps to thin about these numbers in terms that we can relate to. Therefore, let’s remove eight zeros from these numbers and pretend this is the household budget for the fictitious Jones family:
- Total annual income for the Jones family: $21,700
- Amount of money the Jones 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
Perry has not kept his promises. I have reason to believe the bought and paid for media have placed him as a front runner and he would be a puppet of the ruling elite as is Obama.
Victor L. Jordan