Laurie Newsome explains:
Why S&P Downgraded the US:
U.S. Tax revenue: $2,170,000,000,000
Federal budget: $3,820,000,000,000
New debt: $ 1,650,000,000,000
National debt: $14,271,000,000,000
Recent [April] 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
Budget cuts: $385
Hat tip to Small Dead Animals via Bird Dog and Karen L. Myers.
SDD
Clearly all this happened because millionaires and billionaires didn’t pay their fare share of taxes. It had nothing to do with the government being irresponsible. How many more of those $16 muffins can we order?
http://www.nypost.com/p/news/national/feds_muffins_hard_to_swallow_LyGpIXMUt6RzYqB5BVGIyN
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