$700,000,000,000.00

Understanding $700,000,000,000.00

Kevin at wizbang has done a yeoman's work in helping us understand the magnitude of 700 Billion!

Look at that number. It's amazing. Yet to hear our leaders talk about it, they need every penny to prop up the mortgage lenders. They don't. And I figured out how to put it in terms anyone can understand:.

At first, I saw that number and I had to ask... How many bad mortgages are there? Then after playing with that hypothetical in my head I wondered, how many mortgages are there in active in the whole country? So I looked it up. According to this 2006 pdffrom the U.S. Census, there are 33 million owner occupied dwellings with first mortgages active. (1)

Hmmm 700,000,000,000 / 33,000,000 = Over $21,000 cash the government could just give to everyone with a mortgage! What kind of stimulus would that have on the economy to hand 33 million people $21,000?....(wait, it gets better....)

MORE....