So as not to offend, I'm sure not everyone will agree, however, from a humorous standpoint
you have to admit that putting things into a perspective that most people can grasp is brilliant.
This puts it into a much better perspective and is the same for many countries in Europe…
Why the U.S. 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 cuts: $ 38,500,000,000
Let's now 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
Got it ?
OK now Lesson # 2:
Here's another way to look at the Debt Ceiling:
Let's say, you come home from work and find there has been a sewer backup in your neighborhood.
Let's say, you come home from work and find there has been a sewer backup in your neighborhood.
...and your home has sewage all the way up to your ceilings.
What do you think you should do
What do you think you should do
…Raise the ceilings, or pump out the crap?
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