President Obama is now the $5 Trillion Man. $5 Trillion in deficit spending in just over 3 years. It took our nation from George Washington through Bill Clinton to hit our first $5 Trillion in debt. It took George W Bush 8 years to add just under $5 Trillion to our deficit. Pres Obama is the clear record holder. And if re-elected, his proposed budgets would have him deficit spending as much (or more) than all previous presidents combined.
So, just what can one buy with $5 Trillion?
- Pay off half of all mortgages in the United States
- Give 100 Million people $50,000 each
- Offer all small businesses that you will pay the salaries of 2 new workers each (total of 12 million new jobs) up to $50K each for the next 8 years.
- Buy 20 Million American made automobiles for $25K each
- Two years of all health expenditures in the United States
What other things can $5 Trillion buy?