How Big is the National Debt
Posted in : Economics:
- On : Apr 12, 2016
The Washington Post and the US Treasury official website indicate that Obama has increased national debt by $10 trillion since he’s been in office.
How much is $10 trillion? If written out its $10,000,000,000,000, but that doesn’t express the magnitude of how much money this is.
$10 trillion is enough to:
– build a new $25 million school ….every six hours…until the year 2043 …($1 trillion) AND
– build 200 hospitals at $100 million each….in each of the 50 states…($1 trillion) AND
– have more money than a lottery that gave away a million dollars every day from the time of Jesus Christ to today…($730 billion) AND
– pay every man woman and child in Wyoming $100,000 a year for the next 10 years…($500 billion) AND
– buy every single car produced in America for the entire year and give them away…($570 billion) AND
– hire 1000 top scientists at $500,000 salary each and give them each a million dollar budget each for research into curing cancer for 10 years ($15 billion)…AND
– fill a major football stadium with 80k people and give them each a $200k Rolls Royce…every one of the 16 games football for the season ($256 billion) ….AND
– make a stack of $100 bills that is as high as the Eiffel Tower and burn them…every evening before bed…for five years ($1 trillion)
And still have more money left than most people can imagine. This is just how much he increased the debt by…it was already $10 trillion when he took office, placing it at a total of $20 trillion.
(Side note, please don’t confuse debt for deficit and fall for the propaganda about deficit being reduced – the deficit is simply the difference between how much we take in and how much we spend, debt is what we actually owe.)
The INTEREST payments on this giant government credit card are in the neighborhood of $100 million…an hour.
So when people talk about more wars and more government programs we should ask a simple question: where does the money come from?