Originally posted by slomojoe Or to put things in perspective, if you had spent two and a half million dollars per day since the day the Cro-Magnons of the Upper Paleolithic painted the Lascaux caves in France 15,000 years ago, by now you'd have spent just about as much wealth as the US produces in a single year (assuming an annual GDP of about 14 trillions).
Seriously, all these calculations are meaningless, other than to impress the rubes with big fancy schmanzy numbers. It is of course unfortunate we find ourselves in this economic hole of our own creation, but there is no doubt that deficits, either caused by direct spending or by massive tax cuts (which would need to be several times as large in order to achieve the same economic recovery effect, according to the CBO estimates), are necessary at this point to support the economy and prevent it from going into a tailspin.
The Obama says he isn't going to use CBO numbers. So that dog don't hunt anymore.
You're right, the only numbers that mean anything is 1.09 trillion dollars so far this year. More than 2 times the entire 2008 fiscal year.
Last edited by graphicgr8s; 07-15-2009 at 05:36 PM.