Wednesday, April 13, 2011
To understand the U.S. federal budget, divide by 100,000,000
Mark Frauenfelder at 12:00 PM Wed
Philip Greenspun divided the U.S. 2011 federal budget by 100,000,000 and wrote a little parable:
We have a family that is spending $38,200 per year. The family's income is $21,700 per year. The family adds $16,500 in credit card debt every year in order to pay its bills. After a long and difficult debate among family members, keeping in mind that it was not going to be possible to borrow $16,500 every year forever, the parents and children agreed that a $380/year premium cable subscription could be terminated. So now the family will have to borrow only $16,120 per year.
Understanding Congress's solution to the federal deficit problem
a comment from Roy Trumbull
I think Dickens had it right in David Copperfield:
'My other piece of advice, Copperfield,' said Mr. Micawber, 'you know. Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored. As I am!'
Mark Frauenfelder at 12:00 PM Wed
Philip Greenspun divided the U.S. 2011 federal budget by 100,000,000 and wrote a little parable:
We have a family that is spending $38,200 per year. The family's income is $21,700 per year. The family adds $16,500 in credit card debt every year in order to pay its bills. After a long and difficult debate among family members, keeping in mind that it was not going to be possible to borrow $16,500 every year forever, the parents and children agreed that a $380/year premium cable subscription could be terminated. So now the family will have to borrow only $16,120 per year.
Understanding Congress's solution to the federal deficit problem
a comment from Roy Trumbull
I think Dickens had it right in David Copperfield:
'My other piece of advice, Copperfield,' said Mr. Micawber, 'you know. Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored. As I am!'
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