Just to help those that truely don't understand.
3 posters
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Just to help those that truely don't understand.
The following simplifies how our government spends money in relation to how one household spends money.
Why S&P Downgraded the US - Simplified
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
Do you understand now?
Why S&P Downgraded the US - Simplified
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
Do you understand now?
Parker- Share Holder
- Posts : 1566
Join date : 2011-05-12
Humor : WDWA none
Re: Just to help those that truely don't understand.
And they should be really grateful that the interest rate on that national debt is not what the credit card companies charge.
ferret- Share Holder
- Posts : 10353
Join date : 2010-05-23
Re: Just to help those that truely don't understand.
Boy, ain't that the truth Lizzy
bobnliz- Share Holder
- Posts : 1662
Join date : 2010-04-05
Location : Colorado/Mexico
Humor : wry ans dry
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