US Budget Numbers Simplified To The Household Level
Someone sent this to me via e-mail, and I dont know the original source. From the $38.5 trillion number, that seems to refer to the budget cut deal that averted a US government shutdown in April 2011. In any case, it does make the numbers much more easy to grasp.
Some stats about the US government:
- U.S. Tax revenue: $2,170,000,000,000
- Fed 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
Now, remove 8 zeroes 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
I know that this is macroeconomics vs. m
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When hiring a financial planner, you should make it a point that you understand how he or she would be charging for the services that he or she would be providing. Most financial planners today can charge based on a commission or based on a fee. There are also some who charge just a fee for their services.
Commission-based financial planners are those who receive compensation through the commissions they earn from the investment companies that they are working for. Although commission-based financial planners want to make sure that they would be able to sell some of the financial products that they are selling, they are usually able to provide sound advice and information for their clients. If you would be choosing to hire a planner who works on commission, make sure to check for any potential conflicts of interest which could arise so that you could be certain that the recommendations you are getting are truly some of your best investment options and not just products which the planner would make the most money on. Read more…
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