Could You Run Your Family or Dental Practice This Way?

The following was passed on to me by one of our readers . . .

Interesting Perspective on the American Debt –

If you’ve been watching the world news lately, here’s some math to consider…

• U.S. income: $2,170,000,000,000
• New debt: $ 1,650,000,000,000
• Federal budget: $3,820,000,000,000
• National debt: $14,271,000,000,000
• Budget cut: $ 2, 100,000,000,000 ( CBO estimated )/ Annualized over 10 years (210,000,000,000)

It helps to think about these numbers in terms that we can relate to. Let’s remove eight zeros from these numbers and pretend this is the family budget for the fictitious Smith family.

• Total annual income for the Smith family: $21,700
• Amount of money the Smith family spent: $38,200
• Amount of new debt added to the credit card: $16,500
• Outstanding balance on the credit card: $142,710
• Amount cut from the budget: $210

So in effect last month Congress, or in this example the SMITH family, sat down at the kitchen table and agreed to cut $210 from its annual budget.

What family would cut $210 of spending in order to solve $16,500 in deficit spending?

Now I believe that this does not take into consideration the interest on that credit card!

It is an obvious expression of the frustration almost all of us have with the current political process and the resulting economic mayhem that we are being forced to endure.

At this point the market collapse has seen over one trillion dollars of American investors’ capital investment and dentists’ retirement funding vanish in the last two weeks.