I tutor math. 1 billion dollars is easy. If you put one Billion dollars in a
cardboard box, and spend one million dollars a week, it will take 19.2 years
to spend it. Think about that. What do Bill gates or Warren Buffet or any
man do that is worth that kind of money. The calculation of how much 1
million dollars a week works out to per day is left to the student as an
exercise.

M

-----Original Message-----
From: piclist-bounces@mit.edu [mailto:piclist-bounces@mit.edu] On Behalf Of
Gordon Williams
Sent: Wednesday, October 01, 2008 8:14 PM
To: pic microcontroller discussion list
Subject: How does $150 billion in tax breaks help

The initial bailout of the banks will cost $700B.  I have an idea of how
much a $1Million is, but no idea how much 1Billion is, never mind $700B, but
this does work out to be about $8,000 per house of four, which I can
understand.  So each house hold is going into debt by another $8,000 to pay
for the bailout.

If that isn't enough, the government wants to reduce taxes by another
$150Billion!  So on top of the usual deficit that the government runs due to
its wars, etc. the expenses have increased by another 700B and the revenue
has decreased by 150B.  What is going on?

Does anyone know what the projected deficit is going to be this year and the
total debt?  What does that work out to be per person?

Seems like the US may be able to get out of this debt by devaluing the
dollar by printing dollars like crazy (ugh!).  But if the world (read China)
stops lending the US in USdollars and says it will only accept Euro
denominated loans, then even more bad times are ahead.

Regards,

Gordon Williams

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