"The nations shall know that I am the Lord,” says the Lord God, “when I am hallowed in you before their eyes." ~ Ezekiel 36:23

Sunday, September 18, 2011

in simplest terms

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In Simplest Terms: 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 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

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