Given that today, August 2nd, was the day the government would have defaulted on its debts had a compromise not been reached, I thought it might be interesting to see how well we all understand the concepts of billions and trillions of dollars.
In my November 25, 2008 post, I noted that the pundits were predicting that the federal deficit was going to be $1 trillion in 2009. On February 9, 2010 I published a second post about the same subject and the deficit had made it to $1.8 trillion.
Now, about 18 months later the deficit is $14.3 trillion! Wall Street, the Wars, Healthcare, Republicans, Democrats,- pick your favorite scape goat. The point of this post is not why or who, but what.
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Author: ED CALLAHAN
