I received this in an email a while back. I don’t know exact the numbers as of now, but this serves as an example of budgeting. Even the big guys need to budget.
The U.S. Congress sets a federal budget every year in the trillions of dollars. Here’s a breakdown of federal spending in simple terms.
The federal budget:
U.S. income: $2,170,000,000,000
- Federal budget: $3,820,000,000,000
- New debt: $ 1,650,000,000,000
- National debt: $14,271,000,000,000
- Recent budget cut: $ 38,500,000,000 (about 1 percent of the budget)
Let’s put it in perspective:
Remove eight zeros from these numbers, and pretend this is the household budget for the fictitious Jones family:
Total annual income for the Jones family: $21,700
- Amount of money the Jones 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: $385