How The Debt Ceiling Will Work
Great flow chart in the link below from the New York Times that reviews and summarizes the week's first big news which seems like a lifetime ago.
The most important point: $21 billion cut in 2012 from our $3.7 trillion in annual spending.
Everything else is spread out into the "future" in cuts and tax increase that will never come.
NYT FLOW CHART: HOW THE DEBT CEILING WILL WORK
For ean even better visual the graph below shows spending over the next ten years (red lines) against the proposed cuts (blue lines).
The most important point: $21 billion cut in 2012 from our $3.7 trillion in annual spending.This can be thought of visually as a tiny drop in the ocean.
Everything else is spread out into the "future" in cuts and tax increase that will never come.
NYT FLOW CHART: HOW THE DEBT CEILING WILL WORK
For ean even better visual the graph below shows spending over the next ten years (red lines) against the proposed cuts (blue lines).
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