Interesting comparative by John Stossel.

Annual income: $24,700

Annual spending: $37,900

New credit card debt: $13,300

Existing credit card balance: $153,500

Recent belt tightening: $385

Additional Details

The president will send Congress a budget that will provide short-term help to a struggling economy while offering a long-term plan to deal with soaring deficits, the White House said Sunday. Republicans attacked the spending blueprint as offering more of the same failed solutions for the economy.

The 2013 budget being released Monday will propose public works spending while seeking tax increases on the wealthy and corporations to claim progress on the federal deficit in his upcoming budget. The spending plan projects a deficit for this year of $1.3 trillion, the fourth straight year of $1 trillion-plus deficits, and $901 billion next year.

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