Got this the other day and thought I'd pass it on.
Excellent analysis of OUR problem.
This rather brilliantly cuts thru all the political doublespeak we get.
It 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:
* Fed budget:
* New debt: $
* National debt:
* Recent budget cuts:
Let's now remove 8 zeros and pretend
it's a household budget:
* Annual family income:
* Money the family spent:
* New debt on the credit card:
* Outstanding balance on the credit card:
* Total budget cuts:
OK now Lesson # 2:
Here's another way to look at
the Debt Ceiling:
Let's say, You come home from work and find there has been a sewer
backup in your neighborhood....and your home has sewage all the way up
to your ceilings.
What do you think you should do ......
Raise the ceilings, or pump out the crap?
Your choice is coming Nov. 2012