How Much is 700 Billion Dollars?

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What does it look like?

How many ways can it be expressed?

How many mortgages would it pay off for regular Americans?

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Type: Discussion • Score: 2 • Views: 2,025 • Replies: 16

[+3] - OCCOM BILL - 09/23/2008A small percentage of the debt we are sticking our children and grandchildren with... To see our debt increase in clock form;...
[+3] - cicerone imposter - 09/23/2008OBill, Not many people have noticed, but Bernanke has reversed his goal to control inflation into growing inflation as never seen before on this planet. That's also one of the reasons these...

@squinney,

$2,333 for each person in the USA.

Not each taxpayer, mind you. Each of the 300 million individuals....

1 Reply

@DrewDad,

To piggy back on DrewDad, that's $2,300 for each man, woman and child in the US. Since we know all are not "workers" earning income, the real liability is many multiples of that, and that's only the principle amount - not the real long-term cost.

According to some recent articles about how much the federal debt was before this $700 billion bailout, each citizen's share was somewhere in the $70,000 range; much more than most average wages.

That's the reason why this administration and congress has not only put us into debt, but our children and grandchildren. Our government now wants to extend that debt to many more generations into the future.

People still don't understand what kind of handicap that's going to create for our economy; now and in the future.

We're already mortgaged to the hilt, but people don't see what's not in their checkbooks or purse. All our bank accounts have already been overdrawn.

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According to the ed.gov figures, $700B would fully pay for 17.8 million 4-year, in state college degrees " including room and board. Even if you double those figures to cover additional expenses, books, travel, etc, you still wind up with 9 million, fully paid college educations.

1 Reply

@squinney,

McCain just said that " 700 Billion dollars could rebuild the crumbling infrastructure in every city, county and state in this country."

Wow! Would like to know which infrastructure items he includes in that statement, but that sure makes it sound significant.

He also related it to $10,000 per US household.

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Quote:

It is one third of the total amount of money received by the federal government in 2007, including social security, income tax, corporate tax, and all other receipts.

It is $140 billion more than has been spent on the Iraq war since the invasion.

It is $120 billion more than that spent on social security benefits.

It is almost 3 billion nonrefundable bus fares from Durham to San Francisco, leaving tomorrow.

It is nine times the amount spent on education in 2007.

It could pay for 2,000 McDonalds apple pies for every single American.

It is 35 times the amount spent on all foreign aid in most years.

It is more zeros than the calculator that comes with my computer allows.

It is 7,000 times bigger than the Sierra club’s yearly budget.

According to some estimates, it is three times what it would cost, over 10 years, to reduce oil dependency by 20%.

Its over twice the amount of all money given to all charitalbe organizations in the United States in any given year.

It is more than $100 for every person in the world.

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This stack of single bills represents the 87 billion Bush asked for in 2003 (that's a human and a car down in front).

http://www.crunchweb.net/87billion/eight.jpg

So, 700 billion would be a little more than eight of those stacks.

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@littlek,

"This?"

1 Reply

It's roughly 1000 times my annual salary. Damn blood suckin' wall streeters!

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@cicerone imposter,

What?

1 Reply

@littlek,

littlek, Sorry, but I didn't understand your "this stack of single bills..." without the visual.

1 Reply

@cicerone imposter,

I see the visual. Does no one else?

Here's a link: http://www.crunchweb.net/87billion/

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@squinney,

A small percentage of the debt we are sticking our children and grandchildren with...
To see our debt increase in clock form; Click here

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@OCCOM BILL,

OBill, Not many people have noticed, but Bernanke has reversed his goal to control inflation into growing inflation as never seen before on this planet. That's also one of the reasons these "government" workers cannot be trusted.

1 Reply

@OCCOM BILL,

Whatever your political affliations USA has strong support from amost all countries government.
Not excluding China, Israel
India.
But the global people who are struggling in their countries have smpathy and affection with the american people and not their banal Government or barbaric corporate culture.
Please note the word BARBARIC corporate culture.
It is 0405 in Köln and there are 553 people on line.

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@cicerone imposter,

cicerone imposter wrote:

OBill, Not many people have noticed, but Bernanke has reversed his goal to control inflation into growing inflation as never seen before on this planet. That's also one of the reasons these "government" workers cannot be trusted.

If we could print money the old fashion way (without screwing the rest of the people who rely on our currency) to pay the back-bills... I would almost find it appropriate; because at least that way we, instead of generations to come, would be paying the debt. I find it staggering that anytime the inheritance tax (or death tax, or whatever you want to call it) is brought up; you get people claiming they already paid their fair share of taxes on that money: Eh, NO, obviously not.

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@OCCOM BILL,

After all these years, it makes one wonder what Greenspan and Bernanke has been doing in their efforts to control inflation, but suddenty that's no longer an important issue. What happened? Inflation is no longer important, and all their past "efforts" were for naught?

0 Replies

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