Everyone knows the debt and spending of the United States is out of control. But how can we relate to billions and trillons of dollars that the Federal government spends? There are just too many zeros flying around. Below, the column to the right reflects the US government's finances while the numbers under the $50,000 reflect the budget shortfall and the accumulated debt in numbers equivalent to that of a household making $50,000.
This shows that a typical household making $50,000 would be overspending by $27,765 on their credit card each year. It also shows that your total credit card debt, the cumulative overspending from past years would be $342,542 and your total liabilities including promises to pay others in the future would be over $2.5 million - A certain prospect for bankruptcy.
This shows that a typical household making $50,000 would be overspending by $27,765 on their credit card each year. It also shows that your total credit card debt, the cumulative overspending from past years would be $342,542 and your total liabilities including promises to pay others in the future would be over $2.5 million - A certain prospect for bankruptcy.
