Why the US was downgraded...

[daftandbarmy]

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


Even more scary:

http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8

 

[Greymatters]

Removing those zeroes makes it much easier to grasp... big numbers must hurt my brain.

 

[Haletown]

Time for the adults in America to take Barry's credit cards away and stop him from applying for more.

Amazing how one Presidential term can be used to inflict such massive economic damage.

It will be interesting to see what Obamassiah decides on the XL Pipeline.  His Enviro-Eco-Greenie base is making it a test case for him, but he needs good economic news to get re-elected.

I'm thinking he'll decide against it . . . . 

 

[Nostix]

Time for the adults in America to take Barry's credit cards away and stop him from applying for more.

Amazing how one Presidential term can be used to inflict such massive economic damage.

These two sentences sum up exactly why the United States' financial situation is allowed to continue.

Rather than acknowledging the large systematic flaws that run deep within the American financial system, from the tax code, to entitlements, to wasteful spending, it becomes trivially easy for partisan members of both parties to boil the problem down to a simple finger-point at the president of the party they don't support.