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Thread: How Much is $700 Billion?

  1. #1
    Silver Member Vincent's Avatar
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    How Much is $700 Billion?

    Well, personally I think that it is a hellva lot of money.

    According to Live sciences, were the full article is..
    Based on the U.S. Census Bureau's estimate of the current population of about 305 million people, each person would have to pay $2,300 to fund the $700,000,000,000. If each American (including children) paid a dollar a day, it would take more than six years to pay the money in full. One might argue, however, that this $700 billion would be a modest splash in the bucket of national debt, which already stands at well over $9 trillion (which means Americans already owe $31,642 each).
    Last night the news said that South Africa's national debt was at $5.5 Billion, so if the Yanks gave us 8% of the $700 Billion as an interest free loan - I say interest free, because we'll pay it back - they won't get $700 Billion paid back too quickly, seeing that their debt already stands at $9 Trillion.

    Do you think getting this money would make a difference in this country?
    Vincent Marino
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  2. #2
    Site Caretaker Dave A's Avatar
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    Surely the real question is what is $700 billion as a percentage of US GDP?

    Being government, they would "print" the money (it'll go straight into the deficit) and it is financed by the inflationary effect. Given the wide reach of the USD, you end up with a major chunk of the world footing the bill.
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