Budget explained
From
CNS News:
Going Broke: Treasury Down to $58.6B in Cash, $130.5B Borrowing Authority
Imagine that you had an average monthly income of about $170 balanced against average monthly expenses of about $940--and that you were more than $14,000 in debt.
Then imagine that as of today, you had only $58.60 in cash left in your bank account and $130.50 left on your line of credit.
Now multiply these numbers by 1 billion and you will have the up-to-date financial situation of the U.S. government.
A good way of bringing it home -- and the damn fools still keep spending like there is no tomorrow. The days of cheap money are over as bond sales have slacked off -- people are unwilling to trust this government so they are demanding higher returns for their money with the end result of hyperinflation. Welcome back Carter...
Posted by DaveH at March 30, 2011 8:03 PM