The Fiscal year for the U.S.A. ended on September 30th. Last year the U.S. government borrowed 1.6 trillion dollars this year alone to spend above and beyond what the taxpayers sent to Washington.
Lets put this number into something tangible that the average American can relate to.
Borrowing 1.6 trillion = at the current gold price of $1,000 ounce = 3,636,360 official bars of pure gold weighing 27.5 pounds each and measuring 7 in X 3 5/8in X 1 3/4in. This is a volume which would slightly overfill a warehouse with dimensions 100 ft. x 45 ft. x 20 ft. Thanks to Donnie Morrow for his help.
Or in other terms, the government borrowed $50,000 every second last year.
A stunning assault on our liberty.
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It's not 3636 bars of gold. It's 3,636,000 bars, a volume which would slightly overfill a warehouse with dimensions 100 ft. x 45 ft. x 20 ft..
ReplyDeleteStill working on that money tree, Uncle Sam, or do you think you're ready to try capitalism yet?
Well said, Donnie
ReplyDeleteYou are correct, my miscalculation. And maybe that is the point, the government is throwing around numbers that make the average head spin. Ok, basic math, I get it...
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