The Congressional Budget Office of the United States just issued its projected budget shortfall for the fiscal year ending September 30. If the projections hold true, the US will be $1.3 trillion dollars in the hole. It will be the second largest deficit ever. The first? Just last year.
No doubt, the drop in revenue through property taxes has contributed to the loss. Not to mention the handouts and bailouts to prop up a struggling economy.
Yet, all this talk about the deficit and a “trillion” dollars got me to thinking: What does a trillion dollars actually look like?
And so, I did a little research. Here’s a few tidbits to help you get your head around it (via Mint.com):
- One trillion dollars can pay the rent for every renter in the US for 3 years
- One trillion dollars can purchase every home foreclosed upon in the US during 2007 and 2008
- One trillion dollars can run the federal government for 103 days
- One trillion dollars can pay for every US military intervention and war since 9/11
- One trillion dollars could pay for every US homeowners mortgage for 14 months
Pretty staggering stuff.
But I still was having a hard time visualizing this. Until I found this graphic. There is a guy standing next to these crates of 100 dollar bills. Each crate is 100 million dollars. And, the crates are double-upped.