One problem with government spending is that it is usually so gigantic that is nearly impossible for people to put their minds around it. It's hard to differentiate between a sum like $25 billion and a larger sum, such as Obama's propose stimulus, of $825 billion. Certainly, it's difficult to personalize an astronomical number like that. Here is my attempt. I have done this routine before on here, but I am doing it again because I think it is easy to forget just how big a stimulus package this is.
The current U.S. population is about 305 million people. At $825 billion, that comes out to about $2700 per person- that's over ten grand for a family of four!
P.S. Despite my unrelentingly bleak viewpoint, I feel like America's great political hope lies in initaitives like this. Look at the spreadsheet that is linked. First, it is remarkable that kind of information is now available at your fingerprints and that it has been supplied (and will be supplied going forward) by a growing army of volunteers. Second, one glance at that spreadsheet should make it clear that the stimulus is being pumped based completely on politics and not economics. Virtually all that money will be wasted.
Wednesday: FOMC Announcement, CPI
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