The Hole May Be Even Deeper Than We Realize

Summary

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An Associated Press article this week told us, "Total bailout commitments reached a staggering $7 trillion," which is a nearly meaningless number unless at least broken down into a per capita basis.

I have found many college students cannot write 1 billion or 1 trillion in Arabic numbers, which means they must rely on Joe the Plumber or some other prototypical Republican to do the long division for them. Many students also are handicapped by having no idea the population of their own country.

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The Hole May Be Even Deeper Than We Realize

Well, if we split up our mostly newly assumed debt into nice round numbers, it comes to $23,000 for each of us, which is darn near as much as the $33,000 per capita national debt t...

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