America’s Debts: Even More Calamitous Than We Thought
Brace yourself. This isn’t going to be pleasant. If you’re in a bad mood or get easily upset, you may wish to pass on reading this article.
The country is in even worse shape economically than we thought. We awoke on Feb. 14 to find that this year’s federal budget deficit is going to be larger than previously projected—a record $1.65 trillion.
Recently, the official accumulated debt of the federal government passed the $14 trillion threshold. A trillion is a gigantic number. If you stacked $100 bills flat on top of each other, then turned that stack on its side, a trillion dollars would stretch from where I live in western Pennsylvania to somewhere past St. Louis.
That’s just ONE trillion. Multiply that by 14, and it would stretch from here to Honolulu and back with plenty to spare.
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