Good old Stephen Harper, Mr. “I will never run a deficit,” is now proposing that Canada run up a $30,000,000,000 (thirty billion dollar) deficit to tackle the economic problem. The truth is that nothing Canada can do will really help things until the USA wrestles their problems to the ground. Our economies are so interconnected anything Canada does is for naught without an American recovery.
So what are they doing?
American President Elect Obama says it may take $1,000,000,000,000 (one trillion dollars) for the country to spend their way out of the economic crisis. That figure is astonishing. Just to put it in perspective consider the following:
One trillion dollars laid end to end would stretch nearly from the earth to the sun. It would take a modern military jet flying at the speed of sound, reeling out a roll of dollar bills behind it, 14 years before it reeled out one trillion dollar bills.
If you had gone into business the year Hadrian’s Wall was completed, near the end of 128 AD, and your business lost a million dollars a day, day in and day out, 365 days a year, it would take until the end of the year in 2865 to lose a trillion dollars.
One trillion seconds equals 1,688 years.