Monday, January 26, 2009

If I had a dime everytime I've heard that...



I'm going to get off New Agers today (but don't worry, I'll be back) and revisit the economic crises we seem to be amidst. Specifically, let's talk federal budget deficit...again.

While reading through several articles this weekend concerning recent job loss news, more stimulus plans and a swelling budget deficit, I came across one article in particular that made me stop and think...wow, that is really scary!

President Obama has already warned - "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

Trillions...years. Actually Mr. President, most analyst predict $1.2 trillion in 2009, but what's a couple of hundred billion here and there? What made my brain lock up like Windows Vista trying to multi-task, however, was the staggering analogy used to demonstrate what a trillion dollars looks like in terms we can all relate. Apparently, our minds just can't wrap around the concept of very, very large numbers. After all, it takes the same amount of time to write 1 million dollars, 1 billion dollars and 1 trillion dollars. Most people look at $1,000,000,000 when written out and initially proclaim it to be a trillion dollars. But the extra three 0's they're missing make a world of difference...and about 430 lifetimes.

David Schwartz, a children's book author whose How Much Is a Million? tries to wrap young minds around the concept- "One million seconds comes out to be about 11½ days. A billion seconds is 32 years. And a trillion seconds is 32,000 years. I like to say that I have a pretty good idea what I'll be doing a million seconds from now, no idea what I'll be doing a billion seconds from now, and an excellent idea of what I'll be doing a trillion seconds from now."

You think?

Now that you've rebooted, let's look at how the $1 trillion gets spinned by the people doing the spending. According to the Office of Budget and Management, $1 trillion divided by the 300 million people in the United States comes to $3,333 per person. Well...yes there is $99 million missing from this governmental equation...but they can't worry about amounts under $1 billion (someone needs to pass that memo to the IRS). Since the average person in our country carries a credit card balance of $3245, government debt is very similar to what the average person is doing.

Here's another good one but pertaining to the bailout. The $700 billion bailout translates into $45 per week for each American man, woman and child. Going one step further, it comes out to $6 a day. Six dollars a day is also 25 cents an hour, or less than half a penny a minute. Would you be willing to pay less than half a penny a minute to save our economy?

Well...okay... that doesn't sound too bad...but, my 1 year old and 13 year old are going to be pretty ticked when they get their $3,333 bill AND we take their credit cards away.

So much for a happy 2009.




5 comments:

BeckeyZ said...

Dude, you broke my brain.

That is pretty amazing, extremely sad, and very depressing.

On the other hand, you've given me incentive for saving some money.

Great post!

David said...

And there's more (pun intended)

If you asked for a trillion dollars at your bank in $100 bills, it would make a stack 800 miles high.

Laid end-to-end, a trillion dollars worth of $1 bills would extend from the Earth to the Sun.

It would take a military jet flying at the speed of sound, reeling out a roll of dollar bills behind it, 14 years before it reeled out one trillion dollar bills.

If you were locked in a vault and you could keep every dollar bill you initialed,(we're assuming that you initial one bill every second and that you don't need to eat, sleep or take comfort breaks!) Twelve days of non-stop effort would earn you a million dollars.

120 days would give you $10 million.

1200 days -$100 million. That's over three years to get a paltry $100 million ... Still a long way to go ...

After 31.7 years, you'd be a billionaire.

But wait, there's more ... we're still only at the billionaire stage ... Keep initialing!

After initialing a dollar bill every second without stopping, it would take you 31,709.8 years to get to your first trillion.

If your annual salary or wage is $50,000 it would take you 20 million years to earn a trillion dollars.

One trillion dollars ($1,000,000,000,000) is enough money:

To buy 88,052, 394' custom mega yachts; enough to stretch around ¼ of the world.

To get two Mitsubishi 73 HDTVs for every household in America.

$1 trillion is enough money for everyone in Buffalo, NY to buy their own 65-acre island in Panama.

A person given $1 million a year to spend would need 1 million years to blow $1 trillion.

There are about 6.8 billion people in the world, meaning that every living person would get $441 if the U.S. government's budget was divided up. If the money was split among the 300 million Americans, everyone would take home $10,000.

Z said...

Tony, great piece...and I like the look of your site !! Nice change!

Also, why haven't I blogrolled you? Consider it done.....This way, I will remember to come by !!

Big blessings to you and Mrs. C..xxx

AtlantaMama said...

Palin creates SarahPAC Posted: Tuesday, January 27, 2009 12:19 PM by Domenico Montanaro
Filed Under: Republicans
From NBC's Norah O'Donnell


In a sign Sarah Palin wants to continue to be a player on the national political stage, the Alaska Governor has started a new political action committee to raise funds, SarahPAC.

The PAC is registered in Virginia and is modeled after HillPAC, Hillary Clinton's former political committee. Palin's committee allows her to raise money for other Republicans.

According to the Web site, the committee will also support Palin's "plans to build a better, stronger, and safer America in the 21st century."

Palin continues to have a huge political following. As of noon today, she has 464,000 friends on Facebook.com.

CarefulWhatYouSay said...

My perspective change a bit just now...

wow.

What is Obama getting us into?

I am going to keep praying- like tons.