If only every American could see it in these simple terms, maybe they could get out of this mess....
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 an average household budget:
• Annual family income: $21,700
• Money the family spent: $38,200
• New debt on the family credit card: $16,500
• Outstanding balance owing on the credit card: $142,710
• Total budget cuts to family credit card : $385.00 …………..
REMEMBER, you can’t solve a Debt Problem by taking on more debt as you’re just kicking... The I Owe U Can... down the road which creates a bottomless pit!
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