Thursday, November 8, 2012

All the Money in the World

U.S. Currency in Circulation
 As of 10/31/12 - $1.14 Trillion
 Federal Deficits by Year
 2009 - $1.413 Trillion
2010 - $1.293 Trillion
2011 - $1.300 Trillion
2012 - $1.089 Trillion
 * The figures shown above were obtained from their respective sources on 11/8/12.

For each year of Obama’s first term in office, we have had an average deficit of $1.274 Trillion. This is not the amount the government has spent each year, but how much was spent above and beyond all the money the federal government took in by way of taxes, etc. The government has to borrow that money each year. Now, look at that in terms of all the U.S. currency in circulation (all the American money anywhere in the world), and realize that if everybody, everywhere in the world who has any American money, were to put it all in one big pile, it would only be 89.48% of the average amount the government has borrowed every year that Obama has been in office.

This post was inspired by a video produced by the fine folks at back in 2009. I think it's interesting that when the video was made, there was only about $800 Billion of U.S. currency in circulation and $13 was still enough to get "half a tank of gas and a candy bar." Watch it for yourself.

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