What’s Another Trillion-Plus ? ? ?

The $3.8 Trillion budget being presented to Congress calls for a deficit of $1.6 Trillion.

In other words, 42% of what is proposed to be spent is NOT covered by off-setting income.

And, according to the Associated Press, “…administration officials argued that Obama inherited a deficit from President George W. Bush’s Republican administration that was already topping $1 trillion when he took office, and given the severity of the downturn, the president had to spend billions of dollars stabilizing the financial system and jump-start growth.”

It is true to President Obama did inherit a deficit topping a Trillion Dollars (remember, that is One Million times One Million), but that is not a reason to triple that amount in two years (i.e., a $1.4 Trillion gap this year and $1.6 Trillion in the coming year).

If anything, the inherited deficit should be a call to arms to get spending under control.

In all areas.

How will any future Main Street USA generation be able to cope with such massive debt?

Economics 101: Deficit spending does not reduce a deficit.

Over For Now.

Main Street One

One Trillion Dollars, Illustrated (sort of)

We have all heard the news about the proposed national health care reform.

Conservative estimates put the price tag at $1 Trillion, assuming, of course, that the revenue and expense projections are correct.

What exactly is One Trillion Dollars?

Numerically that is: $ 1, 000, 000, 000, 000.

One Trillion is 1,000 times more than One Billion.

One Trillion is also One Million times One Million.

Just how long would it take a person to spend One Trillion Dollars if you spent One Million Dollars per day?

You know, picture yourself buying a One Million Dollar home every day.

It would take One Million Days, or 2,739.73 years, to spend One Trillion Dollars at that rate.

Make no mistake, One Trillion Dollars is a huge sum of money.

So, let’s stop our number calculating with national health care reform and not even consider the overall current national debt, which treasurydirect.gov puts at $11, 545, 275, 000, 000 as of June 30, 2009.

Over For Now,

Main Street One