If the US Government was a family they would be making $58,000 a year, they spend $75,000 a year and are $327,000 dollars in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year.
Here's the math, folks. The U.S. takes in about $185 billion a month. Monthly liabilities for debt interest, Social Security, Medicare, Medicaid, Prescription Drugs and Military and Federal Payroll total about $170 billion. If we default, it will be by political design rather than necessity.
Monday, August 1, 2011
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