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$441 for each person on earth

President Bush’s record $3.1 trillion budget request for fiscal 2009 would add $407 billion to the federal debt, which already is more than $3 trillion.

How much can America’s taxpayers continue to cough up to keep the federal government from going bankrupt?

Let’s take a look at that unprecedented $3.1 trillion amount in real world numbers and dollars.

A person given $1 million a year to spend would need 3 million years to blow $3 trillion. The United States, a government of sizable financial appetite, can do it in one year.

A trillion is a figure more commonly used when talking about outer space. A light year, the distance that light travels in a vacuum in a year, is about 6 trillion miles.

Written out, a trillion is a one (1) followed by 12 zeros, or: 1,000,000,000,000.

That’s a million times one (1) million, or a thousand times 1 billion (dollars).

There are about 6.8 billion people in the world, meaning that every living person would get $441 if the U.S. government’s budget was divided up. If the money was split among the 300 million Americans, everyone would take home $10,000.

…every living person would get $441 if the U.S. government’s budget was divided up…

Counting to 3 trillion at a rate of one number a second would take almost 95,000 years.

Looking at it another way, one would have to circumnavigate the globe 120 million times to travel 3 trillion miles.

Similarly, that would be some 17,000 round trips (back-and-forth) to the sun.
  
The universe, around 15 billion years old at the outside, would need another 200 such lifetimes to reach 3 trillion years.

Three trillion dollars is about what the federal government will spend this year for domestic and defense programs and benefit entitlements such as Social Security and Medicare, according to President Bush’s latest federal budget proposal.

The above statistics were gathered by the Associated Press, the world’s largest syndicated news.

Bush’s budget calls for an 11th straight funding increase for the Pentagon and virtually freezes domestic spending by make cuts in Medicare and Medicaid funding.

The deficit is projected grow from $162 billion in fiscal 2007 to $410 billion in fiscal 2008, the White House announced in an article published by The Washington Times.

Other reasons for the massive deficit, which is forecast at $407 billion in fiscal 2009, include the $146 billion economic-stimulus package being debated in the Senate, and spending for the wars in Iraq and Afghanistan.

The record budget deficit for a single year is 2004’s $413 billion.

Bush called his budget “innovative” and “balanced.”

Bush’s budget director, Jim Nussle, acknowledged that “sluggish economy…does pose some challenges with regards to the deficit,” but said the White House believes the deficit increase will be “temporary” if taxes and spending remain low and the president’s tax cuts are made permanent.

However, the full cost of the two wars is not included in the budget request. The White House requested only $70 billion for Iraq and Afghanistan, and will issue a second request for the full amount “once the specific needs of our troops are better known.”

That amount will likely be determined once U.S. commanders report back in March on their decision for future troop levels. Precedent suggests the amount will likely be around $100 billion. The full defense request is $515.4 billion, not including the $70 billion in war funding.

Bush said his request “keeps spending under control” by holding nondefense, discretionary, or optional spending to less than 1 percent growth. And he said it saves taxpayers $18 billion by eliminating 151 “wasteful or boated programs.”

The president’s request seeks to cut more than $200 billion over five years. About $178 billion of those cuts would be made in Medicare expenditures.

In his second term, Bush has attempted to reduce discretionary spending after it ballooned in his first year and remained high for all of his first term, outpacing the rate of discretionary spending under President Clinton, a Democrat.

SOURCE

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