But what I wanted to share with you is the very clear way they have of explaining exactly why the U.S. was downgraded in a way that all of us can understand. Here it is, "simply put":
SIMPLEST TERMS: Why the US was downgraded.
• U.S. Tax Revenue: $2,170,000,000,000
• U.S. Federal Budget: $3,820,000,000,000
• Annual New Debt: $ 1,650,000,000,000
• Total US Federal 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 Spends Annually: $38,200
• New Debt on the Credit Card: $16,500
• Outstanding Balance on the Credit Card: $142,710
• Total Annual Spending Cuts: $385
How long would your household last with this 'economic' policy at home? Not long.
Now you know what this is all about. You know why I'm working hard to convince my American friends to take the necessary actions to stop this insanity before it buries us all. All petty differences must be set aside (without compromising on godly absolutes) to put together a united endeavor to defeat those that spend like this and put in the White House some who will do something about it.
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