Federal Budget Deal (in perspective)
2011 Federal Budget Deal
Federal Budget: $3,820,000,000,000 ($3.82 Trillion)
Income: $2,170,000,000,000 ($2.17 Trillion)
New Debt: $1,650,000,000,000 ($1.65 Trillion)
Amount Cut: $38,500,000,000 ($38.5 Billion) –
The above cut is about 1% of the total budget.
Harry Reid is calling this a "historic amount".
The President said it is a "historic deal".
John Boehner simply said, "We've come to an agreement".
Let's put this into perspective.
Remove nine zeroes from each of those numbers and pretend this is a monthly household budget for the Smith family.
Amount of money the "Smith's" family spent this month: $3,820
Total income for the "Smith's" family this month: $2,170
Amount of new debt added to the credit card this month: $1,650
Outstanding balance on the credit card: $14,271
So last week, the "Smith's" sat down at the kitchen table and agreed to cut $38 from their monthly budget.
A historic amount!
Most families could do this easily by having a sandwich at home instead of a meal out.