{"id":22794,"date":"2013-01-09T13:29:41","date_gmt":"2013-01-09T18:29:41","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=22794"},"modified":"2013-01-09T13:29:41","modified_gmt":"2013-01-09T18:29:41","slug":"guest-post-fiscal-cliff-in-plain-english","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2013\/01\/09\/guest-post-fiscal-cliff-in-plain-english\/","title":{"rendered":"Guest Post: Fiscal Cliff in Plain English"},"content":{"rendered":"<p>Mark T. a listener of the TDI Podcast sent this in and I thought it was worth a look. Good stuff!<\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/twitter.com\/andrewhorowitz\" class=\"twitter-follow-button\" data-show-count=\"false\">Follow @andrewhorowitz<\/a> <script src=\"\/\/platform.twitter.com\/widgets.js\" type=\"text\/javascript\"><\/script><\/p>\n<p style=\"text-align: center;\">\n<strong>&#8220;Fiscal Cliff&#8221; in plain English<\/strong><\/p>\n<p>Lesson # 1:<\/p>\n<p>* U.S. Tax revenue: $2,170,000,000,000<br \/>\n* Fed budget: $3,820,000,000,000<br \/>\n* New debt: $ 1,650,000,000,000<br \/>\n* National debt: $14,271,000,000,000<br \/>\n* Recent budget cuts: $ 38,500,000,000<\/p>\n<p>Now, let&#8217;s remove 8 zeros and pretend it&#8217;s a household budget:<\/p>\n<p>* Annual family income: $21,700<br \/>\n* Money the family spent: $38,200<br \/>\n* New debt on the credit card: $16,500<br \/>\n* Outstanding balance on the credit card: $142,710<br \/>\n* Total budget cuts so far: $385.00<\/p>\n<p>Got It ? &#8230;.. OK now,<br \/>\nLesson # 2:<br \/>\nHere&#8217;s another way to look at the Debt Ceiling:<\/p>\n<p>Let&#8217;s say, you come home from work and find<br \/>\nthere has been a sewer backup in your neighborhood<br \/>\nand your home has sewage all the way up to the ceilings.<\/p>\n<p>What do you think you should do &#8230;..<\/p>\n<p>Raise the ceilings, or remove the shit?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mark T. a listener of the TDI Podcast sent this in and I thought it was worth a look. Good stuff!<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12],"tags":[],"class_list":["post-22794","post","type-post","status-publish","format-standard","hentry","category-markets","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/22794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=22794"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/22794\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=22794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=22794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=22794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}