Budget

A friend of mine sent me a simplified way to look at the US budget. He just subtracted 8 zero’s and called it a family budget and it looks like this. Family income $21,700 Money the family spent $38,200 New debt on the credit card $16,500 Outstanding credit card balance $142,710 Total budget cuts so far $38 I would like to add some further details to explain why this family budget is allowed to get so far out of control. Money to take care of aging parents $1,600 Money to take care of people not working $4,200 Money spent on interest on our debt $2,470