Tuesday, March 10, 2009
You've got to see this
What does one TRILLION dollars look like?
Let's start with a stack of one million dollars.
(I'm told I need several stacks like this one in order to retire.)
Now think about some of the figures we've heard lately.
Annual Government spending for 2007 was just under $3 trillion. Revenue was $2.5 trillion. Budget deficit therefore was 1/2 a trillion dollars.
The U.S. GDP in 2007 was $14 trillion. In 2008, it was just over $14.5 trillion.
At the end of 2007, the national debt was $9.3 trillion. On Sept. 30, 2008 (the end of the fiscal year) it was just over $10 trillion.
In the last half of 2008, government spending for bailouts and other guarantees related to the financial crisis resulted in new debt and obligations of an additional $8.7 trillion.
Keep in mind what that million dollar bundle looks like.
And now take a peek at one trillion dollars.
Do you see the guy standing in the left-hand corner?
Now imagine 9 more of these.
What the heck do we think we are doing?!