USA Credit Rating Down Graded! Thanks!!

[Chubminnow]

I think Dave Ramsey broke it down into laymen's terms for us...He said....pretend like the U.S. Government as a typical household family of four....the numbers are as follows;

1. They bring in $58,000.00 dollars per year
2. They spend $78,000.00 dollars per year
3. They have a credit card debt of $327,000.00 dollars
4. After they came up with their spending cut plan they will now spend $72,000.00 dollars per year, but they still only make $58,000.00 dollars per year.

[Devils Horse]

I think Dave Ramsey broke it down into laymen's terms for us...He said....pretend like the U.S. Government as a typical household family of four....the numbers are as follows;

1. They bring in $58,000.00 dollars per year
2. They spend $78,000.00 dollars per year
3. They have a credit card debt of $327,000.00 dollars
4. After they came up with their spending cut plan they will now spend $72,000.00 dollars per year, but they still only make $58,000.00 dollars per year.

Leave it to Dave to sum it up nicely. Went down and saw him in Nashvegas last year, he is awesome.

I don't care what you make a year, just imagine owing 327K in credit card debt. Holy Moley!

Only problem with the new spending cuts is I personally don't believe they'll really happen until we the voters make some changes in 2012. Our President and Harry Reid won't allow spending cuts.