Our deficit crossed the $1 trillion dollar mark today.
Our brains have a hard time understanding numbers that big.
"My favorite way to think of it is in terms of seconds," says David Schwartz, a children's book author whose How Much Is a Million? tries to wrap young minds around the concept. "One million seconds comes out to be about 11½ days. A billion seconds is 32 years. And a trillion seconds is 32,000 years. I like to say that I have a pretty good idea what I'll be doing a million seconds from now, no idea what I'll be doing a billion seconds from now, and an excellent idea of what I'll be doing a trillion seconds from now."
At current projections, the deficit will cross the $2 trillion mark before the end of this year 2009. Think about that. It took us 233 years as a nation to reach a $1 trillion deficit. And we will double it this year.
So, let's say you go to borrow money from someone. Such as when the United States goes to China and other nations that still have actual positive net worth and tries to sell them our Treasury bills. Those bills are only as good as our ability to pay them back.
What happens when nobody on earth will loan Uncle Sam money?
They day could come. Soon. And who could blame the lenders?
And this is before we have "additional stimulus packages", "additional business bailouts", "new universal health care". Where is that money going to come from?
We got real problems. We have spent and borrowed our way to hell.
And if you didn't read yet, the Euphrates River in Iraq is drying up. An event prophesied in the Book of Revelation as a sign of end times.
Wouldn't that be sweet.
"You can have my iPhone, I'm going to heaven!"