http://www.cnn.com/2008/US/03/26/beck.deficit/index.html?iref=mpstoryview
Some interesting excerpts from Glenn Beck’s article on CNN:
$200 billion is the approximate total amount of write-downs announced so far as a result of the current credit crisis.
$14.1 trillion is the size of the entire U.S. economy
And $53 trillion is the approximate size of this country’s bill for the Social Security and Medicare promises we’ve made.
Perspective:
A million seconds is 12 days. A billion seconds is 32 years. A trillion seconds is 32,000 years. And 53 trillion seconds? 1.7 million years.
In an article that will appear in an upcoming issue of my magazine, Fusion, former Comptroller General of the United States David Walker tries a different tactic. He writes that our unfunded promises translate into “an IOU of around $455,000 per American household.”
US Treasury Secretary Henry Paulson tried to up the ante this week. “Without change,” he said, “Rising costs will drive government spending to unprecedented levels, consume nearly all projected federal revenues, and threaten America’s future prosperity.”
