Now the White House says that its previous 10-year deficit projection of $7.1 trillion was too low. The new projected figure is TEN trillion dollars.
Thanks to Pagetutor.com, some visualization of the holes that the administration is intentionally digging in which to bury the American economy.
First, here is $1 million, packaged in 100 packets of $100 bills, each packet having 100 of the bills. Hence, each packet is $10,000.
Next is a stack of $1 billion, which in this picture is 10 stacks of $100 million each.
Next we'll look at ONE TRILLION dollars. This is that number we've been hearing so much about. What is a trillion dollars? Well, it's a million million. It's a thousand billion. It's a one followed by 12 zeros.
You ready for this?
Note the tiny red-shirted figure at the lower left. Note also that each pallet is double stacked.
That's as far as Pagetutor went. But let's visualize the new, White House projected deficit, ten trillion dollars. You'll have to keep paging down.
Update: Harvard economics Prof. Greg Mankiw points out that the federal debt today, the product of 43 previous administrations, stands at $7.4 trillion. That is to total accumulated from George Washington's inauguration in 1789 until the last day of George W. Bush's term - 220 years. And the Obama administrations plans to more than double that amount in only 10 years.