[Linda Frances]

Lesson 1:
 
Why the U.S. credit 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: $16,500
• Outstanding balance on the credit card: $142,710
• Total budget cuts: $385
 
Got it?
 
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 raw sewage up to your ceilings.
 
What do you think you should do?
 
1. Raise the ceilings, or
2. Pump out the sewage.
 
 
Your choice is coming in November of 2012. 

[jpsb]

"Let’s now remove 8 zeros and pretend it’s a household budget:

Excellent!

[P8riot]

Mind if I use that?

[Irish Eyes]

Perfect......That is the ONLY way that most people will understand what we are facing.

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: $16,500

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

• Total budget cuts: $385

[PMAS]

Nicely done

[battletank]

The sewage metaphor is priceless!!! May I use it elsewhere on the internet?

[RipSawyer]

Not a good analogy at all. If the sewage were up to the ceiling you would need to walk away, nothing is salvageable no matter how much pumping is done. Of course the current system is also not salvageable, it must and will collapse, I have no idea what will eventually replace it.