Budgeting for idiots
Birthpangs
2011/10/22 23:03:13
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Why the US Credit rating was downgraded.
The following is a pretty good explanation for those who do NOT see
a problem with the United States' finances or have a hard time grasping
the large numbers. The five lines below tell pretty well sum up the extent
the extent of our country's financial woes.
For those who felt the decision-makers at Standard & Poors were too
For those who felt the decision-makers at Standard & Poors were too
strict with their assessment or were out of line with their adjustment,
read the numbers and weep.
Why the US was downgraded...
. U.S. Tax revenue: $2,170,000,000,000
. Fed 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
Why the US was downgraded...
. U.S. Tax revenue: $2,170,000,000,000
. Fed 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
. 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
Top Opinion
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Luca~PWCM~JLA 2011/10/22 23:33:26How stupid does anyone have to be not to understand this.
+4We might add that the Democrats failed to pass a budget for 837 days..and when S&P; said we needed to cut 4.1 trillion, the GOP rejected the Dems proposals that at best (thru cooking numbers) would only cut 2 trillion. The GOP offered 6 different plans that the Dems refused to even look at...and naturally, their ignorant base still blames the GOP
and savings, so they can get their pay fof a few more months, I bet they'll put everyone on welfare
send them a check for $50.00 a month and charge them $50.50 to caah it. We are Screwed no
matter what we do!