On the recordFebruary 10, 2016
It is coming. This goes back to what my friend from Pennsylvania was commenting on. What do we look like in the year we are in right now? Functionally, we are going to be borrowing about $545 billion this year. This was supposed to be one of the good years. Understand that the inflection doesn't happen until 2018, when the debt starts to explode. This was one of the good years. Do you understand what $545 billion is? No one does. That is a lot of zeroes. It is $1.493 billion a day. It is $62 million a hour. But, think of this. My favorite one is that it is $1 million a minute. It is $17,000 a second. And understand this goes up in 9 years. It basically triples. This triples in 9 years. So, we are borrowing $17,000 a second, and that number triples in 9 years. I threw these together because I figured we would have a little bit of fun here. So, we are holding a townhall. We get some of the groups that come in and fuss at us and say: Well, I saw somewhere on some news article that said you should get rid of subsidies for fossil fuels. First off, it is depreciation, just like every business has, but let's say you took away that depreciation from the production of natural gas and oil. You took it all away. If we are borrowing, functionally, $1.5 billion every single day, and you took it all away, it would buy you 12 minutes and 41 seconds of borrowing coverage a day. There are 1,440 minutes in a day, and you just came up with a way to cover 13 minutes.…
