A Higher Science : Finance ... Simply Put

If only every American could see it in these simple terms, maybe we 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 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


h/t to Tony and Dave