The U.S. budget deficit for fiscal year 2009, which ended in September, was a record-shattering $1.4 trillion, equal to about 10 percent of Gross Domestic Product.
In case you're wondering, the p...
The U.S. budget deficit for fiscal year 2009, which ended in September, was a record-shattering $1.4 trillion, equal to about 10 percent of Gross Domestic Product.
In case you're wondering, the previous record had been set in...2008.
$1.4 trillion dollars is a lot of money and it's hard to get your mind around that figure. One way to appreciate the sum is to think of it in terms of all the things that you could buy with that dough.
The budget deficit, for instance, would pay for more than 1.2 billion nights at Rep. Charles Rangel's vacation condo in the Dominican Republic. And that's just for starters.
Don't worry if you have trouble doing the math, because you'll get another chance next year.
The Obama administration has just released its estimate for the fiscal year 2010 budget deficit. The number? Another $1.4 trillion.
Approximately 1.30 seconds. Written and produced by Meredith Bragg and Nick Gillespie.
For downloadable versions, links to related articles, and many more videos, visit http://reason.tv
Like to rate videos and let people know what you think?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
Like to share videos with friends?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
Just remember that we owe it to ourselves! Also don't forget that Obama's budget is an investment in our children and our future. Only a right-wing scumbag would be opposed to that!
You knew that something was wrong, didn't you? I am making a mockery of those who believe Obama's rhetoric and economists like Paul Krugman. One good way to mock such nonsense is to pretend to be a true believer in it.
TheShnuz, I love the argument that "we owe it to ourselves" to justify government debt. Who thought of that one? I can't remember now, but he deserves a Nobel Prize for advancing statism.
Be sure to see Jan Helfeld's interview with Pete Stark, too!
Ignore cat. He's a troll. He has NEVER provided any facts to support his claims. He lives in this world, where he can just say, Bush did it, Obama is fixing it, and that's fact to him. Never mind the fact that the treasury is STILL borrowing money to pay off the debt. That doesn't exists.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
"Do you know how big the national debt is?"
"Around 5 or 6 trillion?"
"Twelve trillion; with trillion deficits set out for years"
*jaw hits floor*
Be sure to see Jan Helfeld's interview with Pete Stark, too!