Thursday, October 9, 2008

Oh, Perfect.

Coyright laws be damned. I have to record this AP article in its entirety.
NEW YORK (AP) -- The National Debt Clock in New York City has run out of digits to record the growing figure.

As a short-term fix, the digital dollar sign on the billboard-style clock near Times Square has been switched to a figure -- the "1" in $10 trillion. It's marking the federal government's current debt at about $10.2 trillion.

The Durst Organization says it plans to update the sign next year by adding two digits. That will make it capable of tracking debt up to a quadrillion dollars.

The late Manhattan real estate developer Seymour Durst put the sign up in 1989 to call attention to what was then a $2.7 trillion debt.


Anonymous said...

So why does Robert Reich, Clinton man, say the following in today's NYTimes? "At first glance, January 2009 is starting to look a lot like January 1993. Then, the federal deficit was running at roughly $300 billion a year, or about 5 percent of gross domestic product, way too high for comfort. By contrast, the deficit for the 2009 fiscal year is now projected to be $410 billion, or about 3.3 percent of gross domestic product."

KAZ said...

Well, maybe it's clearer when I say, "$480,000 per household." The percent doesn't matter so much as the actual figure, I believe.