Why is the $US in trouble? Why will gold rise and rise in value?
Why will EXS be worth more and more in the coming months and years? Why will the U.S. be downgraded? No offense to my US friends. These is just a wake up call for all people to protect their wealth. (I did not validate the numbers for this post but the gist is there)
* 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: $385
Got It ?????
OK now Lesson # 2:
Here's another way to look at the Debt Ceiling:
Let's say, You come home from work and find there has been a sewer backup in your neighborhood....and your home has sewage all the way up
to your ceilings.
What do you think you should do ......
Raise the ceilings, or pump out the sh!t?