What Does A Trillion Dollar Deficit Mean?

• A trillion
• $1,000,000,000,000
• A thousand Billion dollars.
• A million Million dollars.

• The top 50% of taxpayers each becomes liable for $14,159. (1)
• The bottom 50% of taxpayers each become liable for $333. (1)
• The Deficit hit 15 Trillion 11/11. That is $212,391 liability for each of the top 50%.
• The Deficit hit 15 Trillion 11/11. That is $5,000 liability for each of the bottom 50%.
• The simple interest at 5% on $15T is $750,000,000,000. That is 3/4 of another Trillion dollars, EVERY YEAR.

Thoughts on Our deficit.

• It is not realistic to imagine that this deficit will be paid off, or even reduced in the near future. What we are doing as a nation is stealing from future generations, stealing from our own children!
• Our children have every right to default on the loan obligations that we create today. We have no right to bind them to our debt. The argument that we do this to protect the future of america is groundless.
• Deficit spending is a legalized method of buying votes. Our elected leaders (both parties are equally guilty in this) can "give" benifits in order to get more votes and then pay for it by stealing from future revenue.
• The end game is to default on our obligations. The Ponzi scheme will unravel.

(1) The basis for the $14,159 and $333 figures. (A little arithmatic here.) (ref "Summary of 2009 Federal Individual Income Tax Data", http://taxfoundation.org/taxdata/show/27235.html)

• 138 million taxpayers.
• The top 50% paid 97.7% of the total income taxes.
• The top 50% pays ($1T * 0.977) = $977,000,000,000.
• $14,159 for each taxpayer.
• The bottom 50% paid 2.3% of the total income taxes.
• The bottom 50% pays ($1T * 0.023) = $023,000,000,000.
• $333 for each taxpayer

(2) According to the same source as (1) the top 5% of taxpayers pay 59% or $509B in taxes

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?DocID=203&Topic2id=20&Topic3id=21