Via The Atlantic:
If The Federal Government’s household income was $55,000 per year, they’d actually be spending $96,500–$41,500 more than they made! That means they’re spending 175% of their annual income! So, in 2011 they’d add $41,500 of debt to their current credit card debt of $366,000!
Yup, it’s as bad as you thought.
Would be interesting to see what Rome’s debt-to-income ratio looked like before they fell.