rocket finance

Numbers and debt

If you spent a million dollars a day every day since the day Christ was born, you still would not have spent a trillion dollars.

If you stacked $1 bills on top of each other, your stack would have to go 78,914 miles into space before you reached a trillion dollars.

If you laid 1 trillion dollars in $1 bills next to each other – not end to end, but flat side to flat side on edge – the stack would stretch around the earth more than three times.

Total American Debt defined as all U.S. debt (federal and state & local governments, international, and private debt, incl. household, business and financial sector) totals $57 trillion.

The last Bush budget was $3 trillion, President Obama has increased that number 33% to $4 trillion – at a time when our economy is under stress.

President Bush spent like a drunken sailor. President Obama has proposed to quadruple the Bush deficit in a little more than two months.

We often hear about the “big Reagan deficits”. As a percentage of GDP, Reagan’s worst deficit was only half as big as the projected Obama deficit this year.

The national debt is currently 11 trillion dollars. At the end of this year is is projected to be close to $12.5 trillion. In ten years, projections put our national debt at over $23 trillion.

China holds almost 700 billion dollars in U.S. debt. Japan holds $578 billion in Treasury bills. China is getting worried about its investment.

I would be worried too.