A Perspective on Debt

I came across this debt ticker over at Marvelous Medley:

Just look at that number…  $11 Trillion dollars and growing fast! A trillion is a large number, and a bit hard to wrap my head around, so I looked around for some comparisons. I came across this over at tysknews:

Trillion = 1,000,000,000,000. 
The country has not existed for a trillion seconds. 
Western civilization has not been around a trillion seconds. 
One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.

NPR gave this for comparison:

$1 Trillion would be enough money to buy about a 1,000 boxes of Girl Scout cookies for every person in the United States.

And here is a youtube video to give a bit more explaination:

Debt SurgeIt is hard to wrap one’s head around this number. Take the above, multiply it by 11. Now you have our current debt. Next year, we’ll be adding around $2 Trillion to that number. And we will continue to add Trillions to the debt every year until we get this out of control spending in check.

The United States GDP was just over $14 Trillion in 2008. Yes, our debt is nearly as much as our entire GDP! The interest payments on this debt is the third largest item on our budget at over $412 Billion. Now, throw in that the Federal Government alone is slated to spend over 27% of our GDP this year. Certainly someone other than me has to see the obsurdity in this.

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Posted under Economy

Orlando Tea Party: 4000 Attendees

I know a lot of my readers are interested in the teaparties that have been occurring across our great neation. The Orlando Sentinel reports that 4000 people attended their tea party at Lake Eola on Saturday afternoon. The movement is going strong, and may grow stronger with yet another $1 Trillion bailout in the works.

 

The next Cincinnati event is April 15 (details at cincinnatiteaparty.org).

Video courtesy of RThomasBlog.

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Posted under Economy

Written by admin on March 23, 2009

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Stimulus Rush and AIG

How did the AIG bonuses get approved? It was approved by the members of Congress that voted to approve the stimulus package. The rush to vote prior to reading and understanding the bill is the reason the AIG mess hit.

Hat tip to Richmond Tea Party.

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Posted under Economy

Written by admin on March 23, 2009

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Barack Obama’s Top 10 Gaffes

The Telegraph has compiled what they consider the Top 10 Barack and Biden gaffes so-far. The youtube collection below is in reverse order (#10 is first on the list, #1 is the last one). Also there are 11 videos because #5 is a two-parter.

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Posted under Misc

Written by admin on March 20, 2009

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CBO: Deficit is $1.8 Trillion Dollars

The CBO has reported that Obama’s budget would put the United States into a deficit of $1.8 Trillion this year.  Even more worrying is that under Obama’s policies the debt would grow to 82 percent of the entire US economy by 2019. This will certainly pose problems for Obama’s proposed $3.6 Trillion budget.

The massive spending needs to stop before we get swallowed up by a black hole of debt. This is not the time to be pushing things like governmental health care, not that there would ever be a good time to institute it anyhow.

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Posted under Economy

Written by admin on March 20, 2009

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