Friday, March 18, 2011
How much does the government borrow every second?
What is that number? The annual salary of Alex Rodriguez? The yearly earnings of Oprah?
The other day, I heard a politician say that the U.S. is currently borrowing $4B per day. I thought, "no way", but that's pretty close. $4B x 365 = $1.46T. Yikes!!
So I started to work it backwards and I got $46,269/second. That's how much the U.S. is borrowing (printing) every freaking second of every freaking day. Oh, but if you listen to CNBS or read Barron's, you'll hear that QE3 is very much in doubt. Whatever...