On Monday, the annual U.S. budget deficit topped (shouldn't we say bottomed?) "$1 trillion for the first time ever." But don't worry, by October (the end of the budget year) the deficit will be an even more astounding $1.84 trillion. According to cbo.gov, the reasons for this record deficit include: declining income and payroll taxes and increasing government payouts related to the economic crisis and unemployment benefits. Funding the wars in Afghanistan and Iraq also play a major role.

Over the 233-year history of the U.S., total debt has risen to $11.5 trillion. Which means that in just one year, debt will increase by about 1/6th of the total of the previous 233 years. That's a lot of cash. If you're wondering what the government's plan is, here's the full 142-page report. Let me know when you're done reading it. 

Basically, the deficit isn't going to get smaller anytime soon. Next year's is projected to be $1.26 trillion and from 2010 - 2019 another $7.1 trillion in deficit will be added. 

These numbers are so brobdingnagian that it's hard to put them into perspective. But here's a try. Right now, the federal minimum wage is $6.55 per hour.  To equal the projected deficit of $1.84 trillion for this year, you would have to work 280,916,003,100 hours. Wait that doesn't help at all. Here's another shot: it would take 1.84 billion millipedes to make 1.84 trillion millipede legs. Still too esoteric? $1.84 trillion is an absolute crap-ton of money. So just imagine an enormous, steaming pile of poo and you'll have the right idea.

If you're wondering how the heck we ended up in such a fecal financial mess, read this from news.yahoo.com. To solve the problem, I think we should just borrow some $100 trillion dollar bills from Zimbabwe. Too bad they're not worth anything.

--Jens

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