1. A TRILLION DOLLARS IS 1,000 BILLION $.
2. A BILLION DOLLARS IS 1,000 MILLION $.
3. A MILLION DOLLARS IS 1,000 THOUSAND $.
A Trillion is ONE MILLION MILLION!
A Trillion is $1,000,000,000.
Do you know the story of the worker who asked her boss to pay her one cent per day?
1¢ per day, then to double the second day to 2¢ and 4¢ the next day? And to do it for 30 days?
If you were her employer would you do that for 30 days?
Not if you knew power of COMPOUNDING, which would make a salary of over $8,053,063 for the smart girl’s 30 days.
Another version of the power of compounding numbers is borrowing and not paying back debts. The interest on the debt is compounded, it adds to the debt
We have not paid our DEBT down ANY in this century. It just keeps getting bigger. The DEBT is about 22 TRILLION and it grows every day.
Now we hear that the ANNUAL DEFICIT is projected to be a Trillion Dollars per Year!
The IRS reports that they have failed to collect all of the taxes they are assigned to collect for more than 26 years. They call it “The Tax Gap”.
In the 2010 year study by the IRS the “Tax Gap” was computed to be 458 Billion Dollars. That works out to be more than 1 Billion $ per day.
Back in the 2010 year the 458 billion would have been close to being enough to pay the annual interest on the debt.
The 9-30-2019 year’s interest on the DEBT will be about 2/3 of a Trillion Dollars, or so. Soon it will be OVER A TRILLION A YEAR.
How will we ever be able to pay some principal on the DEBT? Or pay it off?
Any year where the ND gets bigger we have had another Deficit Year. This Chapter 11 mismanagement by America can’t end well.
This is “SUICIDE BY COMPOUNDING”.
Anson Avery, CPA