It is also important to look at what one billion or one trillion dollars looks like in terms of what it will buy.
It takes not $1 billion, but $2.4 billion to keep The University of Colorado
running for one year.
2007 revenues were $404 billion (or 0.404 trillion).
Their expenditures were $334 billion (about 1/3 of a trillion).
GDP for 2008 is just over $1 trillion.
The estimated cost of the war in Iraq
is $1.3 trillion, and expected to reach $3.5 trillion by 2017.
J.P. Morgan Chase & Co.
has assets of $2.2 trillion.
The U.S. federal budget for 2008
was just under $3 trillion.
The estimated GDP of the United States
for 2008 was $14.3 trillion.
I am not saying that $1 trillion is not a lot of money, because it certainly is, especially if you saw it loaded on pallets. I am saying that whenever you start talking about national economies or even those of large corporations, the numbers are going to be large, and big problems cost more to fix than small ones. Whether the money is being spent wisely is another question, but I wouldn't assume the fix is wasteful just because it is large. I don't expect our economic problems to simply fix themselves either, and like most problems, the longer we wait to do something about it, the more it is going to cost.
The virtues are lost in self-interest as rivers are lost in the sea.
-- Franklin D. Roosevelt