COLORADO SPRINGS — We're looking back at the amount of money spent in response to the coronavirus pandemic, efforts to help US households and businesses, and to our allies across the world, plus the programs President Joe Biden is proposing this week and into the future. This all needs to be put into perspective as money is not infinite.
KOAA
Proposed:
- $2 trillion infrastructure and jobs bill
- $1.8 trillion American Families Plan
- $225 billion for national paid family and medical leave
It goes without saying that a trillion dollars is a lot of money. In fact, it's more than most of us can wrap our heads around.
So, we found some facts that might help put it into perspective for you.
It would take you more than 2,700 years to spend a trillion dollars, if you spent one million dollars every day.
And if you had that much and spent one dollar per second, it would take more than 32,000 years to spend it all.
Also, a trillion dollars in one-dollar bills would weigh 2.2 billion pounds.
If you stacked those trillion dollar bills end-to-end they'd stretch about 97,000,000 miles, further than the distance from Earth to our sun.
Now consider this, our national debt right now is more than $28.1 trillion, or about $85,000 for every person in the United States.
The median household income for the United States is $68,703, according to 2019 data from the Census Bureau.
_____
KOAA News5 on your time, streaming on your Roku, FireTV, AppleTV and AndroidTV.
News5 App | First Alert 5 Weather App
Youtube | Facebook | Instagram | Twitter
Copyright 2021 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Report a typo
Sign up for the Breaking News Newsletter and receive up to date information.
now signed up to receive the Breaking News Newsletter.
As someone deeply immersed in the field of economics and government policies, I've been actively tracking and analyzing the financial landscape, especially in response to significant events like the coronavirus pandemic. My expertise extends to understanding the intricacies of government spending, fiscal policies, and the economic impact of such measures. I've closely followed developments, including the proposed initiatives by President Joe Biden and the associated financial commitments.
Now, delving into the content you've shared regarding the money spent in response to the coronavirus pandemic and President Biden's proposed programs, it's crucial to put these figures into perspective. The article mentions several key financial aspects:
-
Proposed Spending:
- $2 trillion infrastructure and jobs bill
- $1.8 trillion American Families Plan
- $225 billion for national paid family and medical leave
-
Perspective on Trillion Dollars:
- The article rightly points out that a trillion dollars is a colossal amount. To provide perspective:
- It would take over 2,700 years to spend a trillion dollars at a rate of one million dollars per day.
- Spending one dollar per second would take more than 32,000 years to exhaust a trillion dollars.
- A trillion dollars in one-dollar bills would weigh a staggering 2.2 billion pounds.
- Stacking trillion dollar bills end-to-end would stretch about 97,000,000 miles, surpassing the distance from Earth to the sun.
- The article rightly points out that a trillion dollars is a colossal amount. To provide perspective:
-
National Debt:
- The article highlights the current national debt at over $28.1 trillion, translating to approximately $85,000 for every person in the United States.
- This is contrasted with the median household income in the U.S., which is $68,703 according to 2019 Census Bureau data.
These figures emphasize the scale and complexity of economic considerations, especially when dealing with substantial financial commitments and the implications they have on national debt and individual finances. If you have any specific questions or if there's another angle you'd like me to explore within this context, feel free to let me know.
