Here's a breakdown with numbers the human brain can grasp.
If the Federal government were scaled down to the size of the average US household, here’s what its finances would look like:Cutting $2,300 out of $86,000 is 2.67%, which is a bigger cut than either political party is pushing. The GOP is actually only after a 1.6% cut, and the Democrats want a cut so small it you can't see it without a microscope.
* The Federal government would earn $50,000 a year in tax revenue (the same as the average US household).
* It would be $325,000 in debt.
* It would pay almost $10,000 a year in interest on that debt.
* Last year, it would have spent $79,000.
* This year, it is hoping to spend $86,000.
* The $100 billion in spending cuts (that some politicians view as draconian) would be equivalent to the household cutting its $86,000 in planned spending down to a mere $83,700. Not a bad start, but the household has another $33,700 to go before it balances its budget.
The chart right below the text I blockquoted makes it plain: the US has a total debt load--both debt and unfunded obligations--of around $64,090 billion.
World GDP is $58,230 billion.
That's right: we owe more than the annual economic output of THE ENTIRE WORLD.
No one's even trying to do anything about it. This way lies ruin.
* * *
So the weather tomorrow is supposed to be unseasonably warm, and rainy. It's going to be 61°! It's proof of global warming!
* * *
Well, it's 9 AM; I've been up since 6:30 PM. Why can I stay awake all night without a problem, but if I am sleeping at night I can only go 12 hours before I need sleep again? My circadian rhythm blows.