Saturday, May 28, 2011

Pile of debt would stretch beyond stratosphere | Reuters

Pile of debt would stretch beyond stratosphere | Reuters


* United States borrows about $125 billion per month. With that amount, the United States could buy each of its more than 300 million residents an Apple Inc iPad.
That is: an iPad for every person in the US EVERY MONTH!

* The U.S. government borrows more than $40,000 per second. That's more than the cost of a year's tuition, room and board at many universities.

* In one hour, the United States borrows about $168 million, more than it paid to buy Alaska in 1867, converted to today's dollars.

* In two hours, the United States borrows more than it paid France for present-day Arkansas, Missouri, Iowa and the rest of the land obtained by the 1803 Louisiana Purchase.

* The net worth of Bill Gates, roughly around $56 billion, could only cover the deficit for 15 days," said Jason Peuquet, a policy analyst with the Committee for a Responsible Federal Budget. "The net worth of Warren Buffet, roughly around $50 billion, could only cover the deficit for 13 days.

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