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Why S&P Downgraded the US

Discussion in 'General Discussion' started by Tikka, Sep 25, 2011.

  1. Tikka

    Tikka Monkey+++

    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 cuts: $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 (this year) on the credit card: $16,500
    Outstanding balance on credit card: $142,710
    Budget cuts: $385
  2. beast

    beast backwoodsman

    yeah, our country runs on credit
    just like all the rest
    sheer ignorance and stupidity to buy into that game
    ive never owned a credit card
    never bought on credit
    and i sure as hell wont start now
  3. Tikka

    Tikka Monkey+++

    There is "sheer ignorance and stupidity" and then we have Geithner to takes "sheer ignorance and stupidity" to new levels...

  4. poacher

    poacher Monkey+++ Founding Member

    In other words he's saying "hey we've buried the current generation and the next two as well. So we need to go for the Great Grandchildren" Or did I misread that?

    Take care Be safe, Poacher.
  5. Witch Doctor 01

    Witch Doctor 01 Mojo Maker

    let's just report our credit card as stolen, pay the $50 fine and be done with it
    BackwoodsmanUSA likes this.
  6. BTPost

    BTPost Stumpy Old Fart Snow Monkey Moderator

    I don't think China has the same Rules for their Loans, as VISA or Mastercard....
  7. Witch Doctor 01

    Witch Doctor 01 Mojo Maker

    It was worth a try...
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