I received this as an email forward. I’m not sure of the accuracy of the numbers but the point is still the same and communicates it very clearly. Have a look for yourself.
Why S&P downgraded…
- U.S. Tax Revenue: $2,170,000,000,000
- Federal Budget: $3,820,000,000,000
- New Debt: $1,650,000,000,000
- National Debt: $14,271,000,000,000
- Recent Budget Cut: $38,500,000,000
Let’s remove 8 zeros and pretend it’s a household budget…
- Annual Family Income: $21,700
- Money the Family Spent: $38,200
- New Debt on the Credit Card: $16,500
- Outstanding Balance on the Credit Card: $142,710
- Total Budget Cuts: $385
This makes sense, doesn’t it?