I’m no politician. I don’t even do office politics.<\/p>\n
Having said that, I’m having a real “WHAT” moment after reading a news article from the hill.com. According to the article<\/a>, the Senate is going to have to raise the federal debt limit to well beyond $12.1 trillion by October… just about four weeks from now. This is “a move viewed as necessary despite protests about the record levels of red ink”.<\/p>\n But Treasury Secretary Timothy Geithner said in the article<\/a> that “failing to raise the cap could lead the nation to default in mid-October, when the debt is expected to exceed its limit.”<\/p>\n To quote a famous movie<\/a>, “That would be bad. Okay, alright, important safety tip.”<\/p>\n Before I rant on, though, take a moment to click this link to see what a single trillion dollars looks like, starting from a $100 bill<\/a>.<\/p>\n Did you see it? Double stacked palettes of $100 bills<\/a>. But that’s just A<\/strong><\/em> billion. Imagine 12 stacks of that.<\/p>\n But that’s not the “WHAT” moment.<\/p>\n A math whiz on another website<\/a> pointed out that the biggest surplus ever was 236 billion, way back in the Clinton\/2000 era<\/a>. No surplus of that magnitude has ever happened before or after. But it did happen once, so you can argue it could happen again.<\/p>\n The thing is, even if the spending stops right now, it would still take over 52 years of $230 billion surpluses to pay off 12.1 trillion.<\/p>\n 12.1 trillion divided by 230 billion = 52.6086957.<\/p>\n WHAT<\/p>\n Yeah. Time for a coffee.<\/p>\n","protected":false},"excerpt":{"rendered":" I’m no politician. I don’t even do office politics. Having said that, I’m having a real “WHAT” moment after reading a news article from the hill.com. According to the article, the Senate is going to have to raise the federal … Continue reading