Why was the U.S. downgraded?

[Relyt89]

This says it all! What blatant irresponsibility!



Why S&P downgraded.....

* U.S. Tax revenue: $2,170,000,000,000
* Federal budget: $3,820,000,000,000
* New debt: $1,650,000,000,000
* National 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 spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385

Nice.

[TwistedMetal]

Spending money that you don't have, no way that is irresponsible, those dummies in Washington should know better!!!!.

[Neltech]

Its the american dream. Spend money you don't have? Yep. Its called a car loan, or a mortgage.

[TwistedMetal]

Its the american dream. Spend money you don't have? Yep. Its called a car loan, or a mortgage.

Well, that statement wasn't completely shortsighted or ignorant.

There is nothing with taking out personal/vehicle/house loans if you:

• Maintain a stable and secure income stream
• Your debt to income ratio is below 50%
• Are responsible and understand how to live within your means

In the real world you simply can not spend more than you make and expect someone else to foot the bill (or print more money to balance it out). Why do you hate the American dream?