US Economy explained

[cube]

This is really well put, in terms the average person can understand…..

This rather brilliantly cuts thru all the political doublespeak we get...........
Food for thought..... 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 ?

[Davo36]

Yep, got it.

The credit card limit is unlimited, so the family can still go out and buy a new telly, car, vacation etc.

The bank can't do anything about it as the family are their biggest customer.