Tuesday, September 6, 2011 – 10:50 a.m.

Why S&P downgraded​ the US credit rating.

• 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: $14,271,00​0,000,000
• Recent budget cut: $ 38,500,000​,000


Now 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