A Quote by Douglas Alexander
In an era of billion-person countries and trillion-pound economies, we need to find ways to amplify our voice. We are most likely to be heard when the Chinese negotiate with a £10 trillion E.U., not a £1.5 trillion Britain.
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They [Chinese] have very smart, experienced people. I don't want to paint them all with the same brush. There was a little bit of a feeling that the stock market, which went from something like $4 trillion in valuation to $10 trillion, that the Chinese wanted that.
When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national debt was around $5 trillion. It's now over $10 trillion. We've almost doubled it.
When George W. Bush entered office, the national debt was $5 trillion. When he left, it was $10 trillion. I think the administration spent too much money.
The world has produced about 1 trillion barrels of oil since the start of the industry in the nineteenth century. Currently, it is thought that there are at least 5 trillion barrels of petroleum resources, of which 1.4 trillion is sufficiently developed and technically and economically accessible.
And people really behaved in a fraudulent way or something, we'll go back and find the culprits later on. But that really isn't the problem we have. I mean that's where it came from, though. We leveraged up and if you have a 20 percent fall in value of a $20 trillion asset, that's $4 trillion. And when $4 trillion lands - losses land in the wrong part of this economy, it can gum up the whole place.
Republicans and Democrats agree that this should be done, $2.5 trillion. I happen to think it's double that. It's probably $5 trillion that we can't bring into our country.
The issue is: $1 trillion or $2 trillion is a lot of money. If our objective is to have stability in the Middle East, secure oil, or extend democracy, you can do a lot of democracy buying for this sum. To put it in context: The whole world spends $50 billion a year on foreign aid.
One of the simplest ways to get an idea of one trillion dollars is to consider the amount in terms of the passage of time. One million seconds is equal to roughly eleven days and twelve hours, and one billion seconds is thirty-two years. One trillion seconds equals thirty-two thousand years.
According to a recent Harvard study, $6 trillion, when you include the ongoing healthcare expenses for our wounded soldiers, which is the least they deserve, but $6 trillion for Iraq and Afghanistan alone.
A trillion here, a trillion there and pretty soon you're talking about real money.
The world spends two trillion dollars a year on military, and of that two trillion the United States spends one trillion. We have a bigger military than the rest of the world put together. We have 150 foreign military bases.
The universe is a trillion, trillion threads moving in seemingly unrelated directions. Yet when you look at them together, they create a remarkable tapestry.
I wish we had the $4 trillion or $5 trillion. I wish it were spent right here in the United States, on our schools, hospitals, roads, airports, and everything else that are all falling apart.
The problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents - number 43 added $4 trillion dollars by his lonesome - so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic.
I think, my generation, it's hard to have hope when you got a $700-trillion derivatives debt to pay and a bubble about to explode and $500 trillion worth of GDP.
Millions are unemployed and our roads are falling apart. If we can spend $6 trillion sending people to war, we can spend $1 trillion to put Americans to work fixing our nation's crumbling infrastructure. Let's rebuild America and create jobs.
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