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The Government’s Expanding Debt

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  • Description

    FBN’s Gerri Willis gives some perspective on how big the government’s rising debt really is.

  • Duration 2:35
  • Date

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This transcript is automatically generated

The national debt set to hit another milestone but.

Many folks across the country they're not too focused on it.

Is that fifteen point nine billion there is it is that billion or trillion that a trillion.

It's actually fifteen point nine trillion trillion not and that.

-- -- -- -- -- Want to trillion what number GC right -- here.

Let's Chileans debt as fifteen -- fifteen trillion.

Mileage of 26 billion.

Six -- and 21.

Million.

-- a little.

I and I know it's -- when I was not correct but I heard it was up the -- Hundreds of trillions as a lot of money and -- pay my taxes and I can't count that we've -- -- There's a lot of money but -- a credit card never gets paid off our national debt is growing like topsy.

On August 15 2008 it totaled nine point six trillion or -- This big number just four years later the debt is at fifteen point nine trillion here is -- this is how fast that debt popped higher.

At 66% higher another six point three trillion dollars down the drain.

Now in just six days next Thursday we hit sixteen trillion in debt your share is about 51000.

Dollars.

Every day every single day we add another four billion dollars to this.

And it's a New Yorkers another showed us earlier it's hard to get your arms around sixteen -- so we decided to break it down.

Give -- a sense of what that big number means so -- -- looking at the total debt.

Let's just consider how much debt -- build up this summer the last three months June July August.

That number is seventeen point four billion so what can you buy with seventeen point four billion dollars.

Well for starters he's good completely -- Medicare for less than two weeks.

Or.

For the sports enthusiasts out there.

You can even -- the eleven most valuable sports franchises in the world including Manchester United New York Yankees Dallas Cowboys eleven of them.

Or you could help out NASA was seventy and a half billion dollars with a build ten space shuttle endeavour's.

Or finally to bail out the housing market because we don't know how much this White House -- bailouts we did by this many -- 63545.

At seventy point four billion pretty good -- As I said that's just appease the plot -- you've been listening to this segment we that another eight and a half million dollars of debt and you're gonna pay for.

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