A Trillion Here and a Trillion ThereOctober 12, 2012 @ 3:05 PM EST
U.S. Budget Deficit Tops $1 Trillion
Well, it’s official. The U.S. budget deficit has topped $1 Trillion for the current fiscal year - for the fourth consecutive year!
September’s deficit was $75.02 billion, which was well above the estimate of $50.8 billion.
To be clear, this is not the total amount of government spending, but rather the amount of money the government had to borrow to fund its spending.
How much is a trillion dollars, you ask? If you spent $1 million each and every day since the day Christ died, you wouldn't have spent a trillion dollars. No, in order to reach a trillion dollars, you would need to spend $1.362 million a day for 2012 years.
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