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Published on Mar 26, 2012
The U.S. federal government collected $2.2 trillion and spent $3.8 trillion in 2011. At the same time, it was $14.6 trillion in debt. These numbers are too big to comprehend, so what if we scale it down to an average household's income level? If you spent the way the government does, you might be contemplating bankruptcy. What should be done to ensure the government gets its fiscal house in order before it becomes impossible to pay the bills?