FinancialEdge: If The U.S. Was A Real Household

There's no question that discussions about the deficit and debt dominate coverage of the United States federal government - especially during an election cycle. It's easy to get overwhelmed by the numbers to the point where they become simple abstractions. Let us consider, then, what the fiscal state of the U.S. looks like in terms of numbers that are a bit more relatable to everyday experience.

The Bare Numbers
I recently saw a picture sent around Facebook that portrayed U.S. government finances in a simplified form that dropped eight zeros from the numbers. Do that for the 2012 budget that Obama proposed and you get the following:

Income - $26,270
Expenses - $37,290

That means that the U.S. has to borrow $11,020 (or almost half of its income) to pay its bills.

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