The Congressional Budget Office says that the budget deficit for 2009 — through only the first six months of the year — has surpassed $1 trillion. That’s a lot of zeros for only six months.
How big is a trillion? The NASA website says that one trillion seconds equals 31,546 years.
The rate at which we are spending ourselves into a deep well of debt is frightening, and the long-term costs of financing that debt will be staggering. Every dollar in future federal budgets that will go toward paying interest on that debt — and which will largely be paid to foreign investors — will be a dollar that cannot be spent on schools, or roads, or other governmental projects or services.