Saturday, August 6, 2011

The National Debt Explained in Simple Terms

Your family has an annual income of $58,000 a year, but spends $75,000 a year and has $327,000 in outstanding credit card debt. 

As head of the household, you decide it is time to deal with this problem. So, you decide to cut annual spending to $72,000 per year.

Now you understand what Congress just did.

- Adapted from Dave Ramsey

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