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Today
Traders & Investors Club Event

Elliott Wave International

The Fiscal Cliff For Local People

Kevin Barry  |  Fri, 04/01/2013 - 18:35

Are you having difficulty getting to grips with the large number of zeroes involved with The Fiscal Cliff?

No problem. Here it is explained in terms that we can all understand.

a) US Tax Revenues $2.170,000,000,000

b) Federal Budget $3,820,000,000,000

c) New Debt $1,650,000,000,000 (b - a)

d) National Debt $14,271,000,000,000

e) Recent Budget Cuts $ 38,500,000,000

 

Let's trim the figures a touch by removing a few zeroes and pretend that it is our household budget.

Ready?

a) Annual Family Income $21,700

b) Money That The Family Will Spend This Year $38,200

c) New Credit Card Debt $16,500

d) Outstanding Credit Card Balance $142,710

e) Household Budget Cuts $38.50

So, that's all right then.

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Comments

She Trades  |  Mon, 07/01/2013 - 19:17
She Trades's picture

A well timed and much needed post. I don't think I have seen the situation expressed as clearly as this anywhere - and it has certainly brought the message home! Thanks Kevin

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