Tuesday, June 04, 2013

Not "Show YOU the money"; "Show ME the money!"

What would you think of a family with following financial situation?
  • Annual Income: $24,500
  • Annual Spending: $35,370
  • NEW Credit Card Debt: $10,870
  • Existing Credit Card Balance: $167,600

You might think such people fiscally foolish at best.  And you'd be right.  Sadly, some in America are just like that when it comes to money.

What's worse? They are fiscally foolish with YOUR money.

Just add eight (8) zeros and you'll see.

  • Revenue: $2,450,000,000,000
  • Spending: $3,537,000,000,000
  • Deficit: $1,087,000,000,000
  • Debt: $16,760,000,000,000

"But make no mistake: As people my age retire and demand Medicare, America will eventually go broke."
~John Stossel
Source: "The Austerity Myth"

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