I love it when complex things are simplified so that we can all understand. All numbers based on 2016 National Debt clock.
United States Tax revenue: $ 3,294,000,000,000
Federal Budget: $ 4,100,000,000,000
New debt: $ 806,000,000,000
National debt: $ 19,800,000,000,000
With government budget cuts of $44,000,000,000 it would look like this.
Annual family income: $ 32,940
Money the family spent: $ 41,000
New debt on the credit card: $ 8,060
Outstanding balance on the credit card: $ 198,000
Hypothetical budget cut: $ 440
At Financial Solutions, we prefer to make sure the numbers all add up. Contact us for a review of your portfolio.
The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.