The US Budget Problem Put On A Household Level
Our very good friend and fellow trading veteran, Dennis Gartman, came across an enlightening analogy from the blog “Things That Make You Go Hmmmmm.” Here’s the bit: If the US government was a family, they would be making $58,000 a year; they spend $75,000 a year and are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget and debt reduces to a level that we can understand. Kind of puts the debt debate in a rather different perspective.
Cashin’s Comments 8.15.11
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