Wednesday, September 24, 2008

Frightening Economic Numbers

China holds more than $502 billion (½ trillion) in U.S. treasuries.

Japan holds more than $592 billion.

More than 25% of our national debt is owed to international lenders.

If Congress, as expected, raises the debt ceiling to $11.3 trillion, it will be 79% of our $14.3 trillion economy.

Remember when we were children and we used the term trillion as some astronomical figure? Now we use the word frequently. Will our children or grandchildren start using the term quadtillion? And not be surprised when they use it as adults?

No comments: