Tea Party Group Casts National Debt as a Household Budget

By Perry Chiaramonte, FOXNews.com

America’s ever-growing debt crisis is in the trillions — more than $14 trillion, give or take a few billion.

That’s a lot of zeros, numbers so large they’re sure to make Americans numb when trying to get their arms around what it means to them.

But what would the federal debt crisis look like if you set it up as a household budget?

A heck of a lot simpler, according to new figures from one Tea Party group, which estimates the government “household” spends nearly twice as much as it takes in every year, has a credit card bill nearly seven times annual income and cuts back less than 2 percent of that spending in an effort to control the debt.

“We had discussed about how any citizen needs to understand what the proposed cuts mean,” said Laurie Newsom, president of the Gainesville, Fla., Tea Party. “One of our members had figured it out and put it in terms of a household budget. If you ran a household with these numbers, you would see that it’s simply not enough.”

To read more, visit:  http://www.foxnews.com/politics/2011/09/27/tea-party-group-casts-national-debt-as-household-budget/

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