docs we love :: $10 trillion and counting

The last Frontline doc we posted traced the economic meltdown leading to the bailout. In this doc, Ten Trillion and Counting, you’ll see our worst nightmare unfolding before us – a debt estimated to double in the next ten years to$23 trillion. If you’re having a tough time envisioning or understanding that figure, let me help you out a bit. One trillion is a million million. If you were to spend a million dollars every day of the last 2009 years, you still would not have spent one trillion.

You’re probably wondering how this country is even functioning with this kind of debt and where the money comes from. If you guessed that the FED prints most of it up, you’re right.  That still means that we’re borrowing from the FED. What you probably don’t know is that the Treasury is also borrowing billions by auctioning US securities to fund essential government programs and services.

Another great Frontline piece you shouldn’t pass up. Good luck to us all…

- Moni Pineda

This entry was posted on Monday, April 6th, 2009 at 4:19 AM and is filed under FWL BLOG and tagged with country, debt, dj moni, docs, FED, forntline, friends we love, friendswelove.com, love, mike vargas, moni pineda, national debt, nuyorktricity, pbs, policy, production company, Treasury, trillions, video producers, web series. You can follow any responses to this entry through the RSS 2.0 feed.