Millions, Billions, Trillions, all terms for a large amount, and depending on where you are all having different meanings. I live in the United States where a billion is a thousand million, and a trillion is a thousand billion. Or to put that another way, a trillion is a million million.
So, whenever you read about the 1.9 trillion dollar spending package or the 3.5 trillion dollar spending package think on those things. We’re really talking (giving the benefit of the doubt on the actual size of the packages) about a total of five million four hundred thousand million dollars worth of spending.
According to The U.S. Department of Housing and Urban Development the median household income in the United States for 2021 is estimated to be $79,900. So that spending package, based on the median income would require sixty seven million five hundred eighty four thousand four hundred eighty one households income to cover. And based on information from World Population Review, there are about one hundred twenty eight million five hundred seventy nine thousand households in the entire country, so covering that amount of spending will take the gross income of half of the country to pay off.
Sure, median means that there are as many households making more as there are less, but you get the idea. But, if you don’t like that calculation, look at that spending compared to the gross national product. In 2020 the gross national product fell by five hundred thousand million dollars to twenty million nine hundred thirty thousand million dollars. And congress wants to spend a quarter of that?
This is unsustainable, and the American people need to get a little perspective.