Fiscal Cliff put in a much better perspective
As America approached the Fiscal cliff, perhaps I’m on my own in saying that the amount of money the U.S government have, owe or print is completely confusing. The Fed’s recent budget cut looks more like a phone number than it does a hair cut off its current debt ceiling. Some of us look at that number ($38,500,000,000) and think that if the U.S can cut spending by that amount then surely things have to start looking better. But – what do we know? How does one empathise or resonate with the running of a country?
Fiscal Cliff put in a much better perspective:
Let’s now remove 8 zeroes and pretend it’s a household budget:
It’s clear that these budgets cuts do little more than confuse us! It’s obvious spending cuts do more harm than good whilst we all know that the inevitability of printing more money shrinks the purchasing power of the annual family income…