Why S&P downgraded - this puts it in perspective...

Why S&P downgraded - this puts it in perspective...

• 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 family spent: $38,200
• New debt on credit card: $16,500
• Outstanding balance on credit card: $142,710
• Total budget cuts: $385