I saw this late last week and thought it was somewhat helpful, and most definitely entertaining. Someone put together a visual aide to demonstrate what $1 trillion looks like, physically. And the picture below, that’s not it. Not even close. Click here to see the whole thing.
The Examiner’s Julie Mason does a helpful recap of the spending the government has been doing since President Obama took office: “a $2 trillion financial services bailout, a $788 billion stimulus package, the $13.4 billion preliminary bailout for automakers, a $410 billion spending plan to cover the rest of the current fiscal year, a proposed $275 billion foreclosure rescue plan, and a $3.5 trillion budget that includes a $634 billion fund for health care.”
All that does not include President Bush‘s $700 billion TARP money for financial institutions, as well as the billions used to bailout firms such as AIG, Bear Stearns and others.
Slate, in fact, has the total spent or committed on the economic crisis under Bush at $5.6 trillion, with $1.5 trillion of that money actually spent. Check out the helpful chart they have showing all the different spending up to Nov. 25, 2008.
The money spent or committed under Obama, excluding the $3.6 trillion budget, adds up to about $3.5 trillion. Add that to Bush’s $5.6 trillion spent or committed. Now go look at that picture of what just one trillion looks like.
— Jon Ward, White House reporter, The Washington Times
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