Today’s Lesson: Government 101

Why the U.S. bond rating was 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 cuts: $ 38,500,000,000 

Let's now 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 for this year: $16,500 

• Outstanding balance on the credit card: $142,710 

• Total budget cuts: $385 

Now here’s your test question………..How long could your family sustain this?