We can all comprehend how much $100 is, or $1,000, or even $1 million. But just exactly how much is $1 trillion? We hear Congress and Obama's administration casually toss around the number "one trillion" as if it's commonplace or inconsequential.
But how much is $1,000,000,000,000?
The graphic below helps visualize one trillion, and the following videos should help too:
* How Much is a Trillion, Anyway? Part 1
* How Much is a Trillion, Anyway? Part 2
* How Much is a Trillion? by Chris Martenson
* How Much is a Trillion, Anyway? Part 2
* How Much is a Trillion? by Chris Martenson
Now ask yourself. Who will pay for this?
Got kids? Grandkids?
I guarantee it won't be that man behind the tree...
The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to $1.09 trillion. The administration forecasts that the deficit for the entire year will hit $1.84 trillion in October. The U.S. debt now stands at $11.5 trillion. Interest payments on the debt cost $452 billion last year - the largest federal spending category after Medicare-Medicaid, Social Security and defense. The overall debt is now slightly more than 80 percent of the annual output of the entire U.S. economy, as measured by the gross domestic product. During World War II, it briefly rose to 120 percent of GDP. The deficit of $1.09 trillion so far this year compares to an imbalance of $285.85 billion through the same period a year ago. The deficit for the 2008 budget year, which ended Sept. 30, was $454.8 billion, the current record in dollar terms.
ReplyDeleteCURRENT POLICIES ARE UNSUSTAINABLE!
http://apnews.myway.com/article/20090714/D99DSUG00.html