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Commerce · September 24, 2011

WT

Why the US got 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 Puts it into perspective a bit, huh? (Source: https://plus.google.com/u/0/115560790731793704368/posts/5TRu4CdDW3R)

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