What Could You Do with a Projected U.S. Debt of $15 Trillion?
Here are some ways to wrap your head around $15 trillion of debt.
Feb. 14, 2011 — -- While our nation's current $14.3 trillion debt limit sounds staggering as it is, President Obama submitted a report to Congress this week saying that the figure will top $15 trillion this year.
That much cash is hard to imagine, even if you're Donald Trump. So with the help of usdebtclock.org, let's look at what that kind of money can buy, to put the size of the debt in perspective.
1. 4,080,522,307 Super Bowl tickets
If the average price of a ticket to this year's Super Bowl at the Cowboys Stadium in Dallas was $3,676, according to Forbes, then the country's debt could cover attendance for the next 56,674 annual games, if average attendance at a Super Bowl game is 72,000 people. Or we could just invite half the population of the world, which is expected to reach seven billion people this year. There would need to be a few no-shows.
2. 2,584,121 Hines Wards
The veteran Pittsburgh Steelers' wide receiver reportedly made $5,804,680 last year. That means $15 trillion could pay Hines Ward's salary for 2.58 million years. Unless he negotiates a raise.
3. $48,081.66 per person in the U.S.
The U.S. debt at the moment comes to over $45,000 per man, woman and child, given the current U.S. population of 311,969,269. But that would rise to $48,081 if the debt reaches $15 trillion.
4. The entire annual output of the U.S.
The U.S. GDP is $14,870.4 billion using current dollars, according to the Commerce Department earlier this month. That means the debt will top the current 95 percent of GDP, the value of all economic activity here.
5. The U.S. defense budget for the next 21 years
The defense budget is $690.8 billion, which means the country's debt could cover this largest budget item for the next 21 years.
6. Ten times the U.S. Budget deficit of $1.5 trillion, according to the Congressional Budget Office's 2011 forecast.
7. 61 million homes
Stephen Bronars, senior economist at Welch Consulting, said that at the median home price of $242,000, the deficit could buy over 61 million homes. That would surely boost the housing market.
8. Over 400 of the country's largest companies
You could buy over 400 of the country's largest companies, according to their market capitalization, said Bronars. Or you could buy ExxonMobil, the largest company in the country, 37 times. It currently has a market value of $399.52 billion. If you prefer, you could buy Apple, Inc., 48 times over. Apple's current market cap: $310.79 billion.
9. 109 New York State budgets
The nation's debt could cover the cost of New York State's budget 109 times. This year the state expects to spend $136.5 billion. The state's budget year ends on March 31; the state's budget gap next year is projected to be about $10 billion.
Related Stories
ABC News Live