Word: dollarize
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Dates: during 2000-2009
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...take office as both chambers attempt overrides of the veto. Such a situation might force Obama to expend some of his political capital on fixing the holdover problem, and it could drain support for what he prefers to be concentrating his time and energy on: a potentially trillion-dollar stimulus bill. That too, of course, is essentially another bailout, but it's directed at Main Street, so the President-elect can count on a little more gratitude from the American public. If he can't spend his entire inaugural week celebrating, that's the least he can expect in return...
President-elect Barack Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Mr. Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on." - Associated Press...
Seriously, what is it? To the average person, a number that big probably doesn't mean much. At some point long before the hundred-billion-dollar mark, large numbers simply become figures on the page, well beyond human scale and intuitive understanding. And yet as discussion about the economy and the impressive numbers that come along with it continue to dominate the news, it may be more important than ever to try to understand. Is a $700 billion financial-industry bailout a lot? Is a $775 billion economic-stimulus package enough? (See the worst business deals...
...next move on to more formal manipulations. When trying to comprehend a trillion-dollar deficit, you might calculate how much money that represents per person in the U.S. One trillion dollars divided by 300 million Americans comes out to $3,333. Then you search for a useful comparison. A convenient - though perhaps unsettling - comparison is to the amount of credit-card debt carried by the average person in this country. That figure is $3,245. "So a good way of thinking about government debt financing is that it's similar to what the average person is doing," says Camerer...
...hour, 21 minute flight home for Christmas, it sounded utterly delicious. “Excuse me, sir,” said the flight attendant. “Would you like some lunch today?” For a moment, I was disoriented—there was no five dollar price tag attached to the offer, only an enticing lunch box on her outstretched arm. And I had been addressed politely, an antiquated notion of civility other airlines had led me to give up on. Further surprising me, the attendant returned after lunch for a second time with a beverage cart...