Tuesday, August 30, 2011

Why S&P Downgraded The United States

Let's remove 8 zeros from the Federal budget 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 "deep" budget cuts: 385

When will this family get their budget balanced?
Correct - NEVER!

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