The Morning Briefing

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The 1600 Report's daily roundup of what the White House is reading this morning online and in the papers:

Obama's day: Selling his budget plan (USA Today)

Obama budget: Tax plans aim at rich (CNN Money)

Further Hurdles Ahead for Greece (WSJ)

Stocks head for gains after Greece OKs austerity (CNN Money)

Hague Welcomes ‘Strong Signal’ Sent to Syria by Arab League (Bloomberg)

Israel says bombs target embassies in India, Georgia (Reuters)

Obama Proposes $8 Billion for Job Training at Community Colleges (Bloomberg)

GE to hire 5,000 U.S. veterans, investing in plants (Reuters)

Topics: Morning Briefing

Howard

HERE'S ANOTHER WAY TO LOOK AT THE DEBT CEILING:
.................................................................

* U.S. tax revenue: $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 cuts: $ 38,500,000,000
..................................................................

Let's now remove 8 zeros and pretend it's a household budget:
.........................................................................................

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385
.........................................................................................

Let's say, you come home from work and find there has been a sewer
backup in your neighborhood and
your home has sewage all the way up to your ceiling.
What do you think you should do?
Raise the ceilings; or, pump out the sewage?
Your choice is coming this November, 2012 !!!

February 13, 2012 at 4:21 pm | Reply