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	<title>ball of lightning [dot] com &#187; economy</title>
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		<title>Is trillion the new billion?</title>
		<link>http://balloflightning.com/2009/02/is-trillion-the-new-billion/</link>
		<comments>http://balloflightning.com/2009/02/is-trillion-the-new-billion/#comments</comments>
		<pubDate>Thu, 05 Feb 2009 01:06:53 +0000</pubDate>
		<dc:creator>Colin</dc:creator>
				<category><![CDATA[media]]></category>
		<category><![CDATA[cnn]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[stupidity]]></category>

		<guid isPermaLink="false">http://balloflightning.com/?p=20</guid>
		<description><![CDATA[CNN.com is running a story regarding whether Americans are becoming desensitized to the notion of a trillion dollars in light of the bailout bill. There is no real argument here&#8211; the growing economy and significant inflation have brought us from an era where cars cost $1,000 to the point where one can become a millionaire [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.cnn.com/">CNN.com</a> is running a story regarding whether Americans are <a href="http://www.cnn.com/2009/LIVING/02/04/trillion.dollars/index.html">becoming desensitized to the notion of a trillion dollars</a> in light of the bailout bill.  There is no real argument here&#8211; the growing economy and significant inflation have brought us from an era where cars cost $1,000 to the point where one can become a millionaire simply by spinning a giant wheel on The Price is Right in a mere 50 years, signifying that precedent certainly exists for breaking through yet another &#8216;-illion&#8217; barrier.</p>
<p>The part that caught my eye was nestled away a few paragraphs in.  It is not an indictment of the premise of the column, nor the veracity of the claims made by those within.  Senate Republican leader <a href="http://mcconnell.senate.gov/">Mitch McConnell</a> believes that the growing stimulus package is detrimental to the American economy.</p>
<blockquote><p>&#8220;To put a trillion dollars in context, if you spend a million dollars every day since Jesus was born, you still wouldn&#8217;t have spent a trillion,&#8221; McConnell said.</p>
<p><strong>CNN checked McConnell&#8217;s numbers with noted Temple University math professor and author John Allen Paulos.<br />
</strong></p></blockquote>
<p>I&#8217;m not sure if this is merely for name-dropping purposes, but the simple problem for which CNN felt obliged to use a &#8220;<a href="http://www.math.temple.edu/~paulos/">Temple University math professor</a>&#8221; to solve is something that might be better suited for a 2nd grade quiz.</p>
<p>2008 years x 365.25 days in a year (accounting for leap years; would account for a .3% error) = 733,422 days x $1,000,000 per day = $733,422,000,000 or $733.5 billion.</p>
<p>Shockingly, Paulos&#8217; result?</p>
<blockquote><p>&#8220;A million dollars a day for 2,000 years is only three-quarters of a trillion dollars. It&#8217;s a big number no matter how you slice it,&#8221; Paulos said.</p></blockquote>
<p>Glad it took us one university professor and three paragraphs to verify McConnell&#8217;s &#8220;claim.&#8221;  And with the extra money the journalist got for putting in &#8220;overtime&#8221; on that piece, he/she just got one step closer to the elusive trillion dollar plateau.</p>
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