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A look at the U.S. budget -- for dummies

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Here's a super simplified explanation of why the country can't afford to not make big spending cuts (via Jazz Shaw):

U.S. Tax revenue: $2,170,000,000,000

Fed budget: $3,820,000,000,000

New debt: $ 1,650,000,000,000

National debt: $14,271,000,000,000

Recent budget cuts: $ 38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget:

Annual family income: $21,700

Money the family spent: $38,200

New debt on the credit card: $16,500

Outstanding balance on the credit card: $142,710

Total budget cuts so far: $385.00

Editor's note: This post originally reported the household budget cuts as $38.50 when it should've been $385.00. It has been updated to correct this mathematical error.

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