Skip to comments.How much is 1 trillion dollars? (Line by line, what ObamaReidPelosiNomics will cost us)
Posted on 05/01/2009 12:16:39 AM PDT by Syncro
How much is 1 trillion dollars?
A stack of one trillion one-dollar bills would reach 68,000 miles in space. If you spent $1 million dollars a day from the day Jesus was born until now, you would only have spent about three quarters of a trillion.
If you laid one trillion one-dollar bills end to end, it would make a chain from the earth to the moon 200 times. One trillion dollars would stretch nearly from the earth to the sun. It would take a jet flying at the speed of sound, reeling out a roll of dollar bills behind it, four years before it reeled out one trillion dollar bills. A million seconds is 11.5 days. A billion seconds is 32 years. A trillion seconds is 32,000 years.
Record Spending In The Budget: The budget increases spending to $3.9 trillion in 2009, or 27% of GDP the highest level since World War II. This is simply too much spending and will lead to higher taxes, slower economic growth, and fewer jobs for middle class families.
Historically High Deficits For The Next Ten Years: the budget promises historically high deficits stretching out until 2019, when the budget deficit will stand at $712 billion.
A Record Deficit In 2009: The budget would produce a $1.75 trillion deficit, or 12.3percent of GDP, in 2009. This deficit level is more than three times the previous record deficit.
$24 Billion Spent A Day: Over the first fifty days of the new Administration, approximately $24 billon has been spent a day, most of it with borrowed money.
Doubling The National Debt Over The Next Eight Years: The budget doubles the national debt over the next eight years.
Trillion Dollar Increase In Entitlement Spending: The budget includes a $1 trillion increase in entitlement spending over ten years. The budget dramatically increases entitlement spending while doing very little to improve the budget impact of existing entitlement programs.
Increasing Your Families' Share Of The Debt: The current debt per capita exceeds $35,000. The budget would double the national debt in only eight years, thus ballooning your share to approximately $70,000.
Growing The Debt At Record Pace: During the last eight years, the debt rose by $4.9 trillion. The proposed budget will exceed that within three years.
Skyrocketing Net Interest Payments: Beginning in 2012, and every year thereafter, the government will spend more than $1 billion a day in net interest. By 2019, the government will spend $1.7 billion per day on net interest.
The Largest Tax Increase In American History: The budget will raise taxes by $1.4 trillion over the next ten years.
Harming Small Businesses: The budget will raises income taxes harming the many small businesses that pay taxes at the top two individual rates. According to the National Association of Manufacturers, 68 percent of American manufacturers pay taxes at the individual income tax rate and most of them will see their taxes increase.
Higher Energy Prices: The budget will lead to higher energy prices and a tax for every American who uses energy. The cap-and-trade proposal represents a new national climate tax that will cost every household up to $3,128 annually in higher costs for natural gas, electricity, home heating oil and gasoline.
Hurting Charitable Giving: The budget will put a new tax on charitable giving that could cost American charities as much as $16 billion a year. This will harm numerous organizations at a time when many of these groups are now struggling with the economic downturn.
Harming The Housing Market: The budget will harm the housing market by limiting the mortgage interest deduction and making it more expensive to purchase or afford a new home. As the National Association of Realtors reports, lowering this deduction will impact all home prices and values for all Americans.
Bringing The Death Tax Back: The budget brings back the estate tax currently scheduled to be repealed next year re-imposing a heavy tax burden on small businesses and family farms.
Taxing Charitable Contributions Will Deter Giving: Included in the tax increase is a cap on itemized deductions for charitable giving. By putting a new tax on charitable giving, the budget could cost American charities as much as $16 billion a year.
Increasing Taxes On Charitable Giving Comes At A Time When Millions Of Charities Are Struggling With The Economic Downturn: Many charities are now struggling with the economic downturn. Taxing charitable giving will only make it worse for these organizations and would cause many to shut down. Charities depend on donations by lessening the deduction the public is discourage from giving.
The Largest Tax Increase in American History: The budget will raise taxes by $1.4 trillion over the next ten years. The cap-and-trade proposal is expected to raise at least $646 billion alone.
A Tax Increase On Families Of More Than $3,000 A Year In Higher Energy Prices: The cap-and trade proposal in the budget will lead to higher energy prices and a tax for every American who uses energy. The cap-and-trade proposal represents a new national climate tax that will cost every household up to $3,128 annually in higher costs for natural gas, electricity, home heating oil and gasoline.
Tax Burden Would Hit Lower-Income And Middle-Income Families The Hardest: The cap-and trade tax is highly regressive, impacting most the lower-income and middle-income families who spend a greater portion of their monthly income on energy than higher income earners.
Potential To Destroy Anywhere From 1.8 Million To 7 Million Jobs*: National Association of Manufacturers estimated a net job loss of 3 to 4 million; the Heritage Foundation estimated job losses between 1.8 and 5.3 million; and Charles Rivers Associates estimated job losses as high as 7 million
Stifling Economic Growth*: The Environmental Protection Agency estimated a decline in GDP of $238 billion (0.9%) to $983 billion (3.8%) in 2030 and $1,012 billion (2.4%) to $2,856 billion (6.9%) in 2050. The Heritage Foundation estimated a decline in GDP of $1.5 to $4.8 trillion.
Higher Energy Costs*: The Environmental Protection Agency estimated a rise in electricity costs of between 44% and 79%. The National Association of Manufacturers estimated an increase of between 101% and 129%.
Fannie Mae and Freddie Mac plan to pay more than $210 million in bonuses through next year: http://news.yahoo.com/s/ap/20090403/ap_on_bi_ge/mortgage_giants_bonuses
If you paid down a $l trillion debt at the rate of $1 a sec, how long would it take to pay off the trillion?
And that’s without interest.
I think I heard Glenn Beck say that the interest on the plus-or-minus 12 Trillion Obama has saddled us and our descendants with is a million dollars a second.
One Million.... Million dollars.. or..
One thousand Billion dollars.. or...
Oh heck. let’s just print more funny money. Don’t worry, it won’t led to inflation. Riggggtttthhhh.
A million seconds is a vacation
A billion seconds is a career, and
A trillion seconds is 310 centuries.
But but but the Anointed One said that he was going to cut the deficit in half, and from his poll numbers, most Americans believe him. So how can this be true?
Oh, that’s right, a majority of American voters were stupid and/or ignorant enough to vote this zero into office in the first place. Res Ispa Loquitur — modern Americans are by and large gullible and stupid.
Nope, try 1,000,000,000,000...
Sorry, Res Ipsa Loquitur...
One trillion = 10^12 or 1,000,000,000,000.
mark for later use
Gonna need a lot of them to take enough 100 dollar bills to the store to buy a loaf of bread.
Soros is working on his Zimbabwe plan for America, it worked well for him there.
I believe that.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.