Friday, July 23, 2010

A Little Perspective On the Deficit

According NPR today, the federal government will run a deficit of $1.47 trillion this year. That is a lot of money.

Let's put that in terms that may mean something. The feds will spend $1,470,000,000,000.00 more than they have. That's putting $4,027,397,260.27 on the nation's credit card every day.

Now for some perspective, let's compare it to something else that is worth a lot of money... how 'bout something else in the news? Tourism in Florida. According to the State of Florida, the annual GDP of the leisure and hospitality industry was $42,321,000,000 in 2008. (I assume this number excludes GDP from transportation, since that's a separate listing.)

Florida tourism is worth $42 billion a year.

It means that every week and a half, that is every 10.48 days, the federal goverment will put the value of an entire year of Florida tourism on the credit card; three years worth about every month.

That's a lot of vacations our kids are going to miss.