Word: trillion
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Dates: during 2000-2009
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...this explains why Obama is being very careful about how he packages the new spending ideas, which could push the total stimulus price tag past the $1 trillion mark. For starters, he never used the word stimulus in his Dec. 8 speech to describe the new effort, perhaps because according to a Rasmussen survey, that's a concept that only one-third of Americans support. Nor did he say how much the new programs would cost. He gave few details of how they would be paid for, and he never explained when the plan would go into effect...
...same time, international confidence in the government's ability to pay its $12 trillion debt is tenuous, and Obama has yet to take any clear steps, beyond rhetoric, to reassure investors. His 2010 budget, announced last February, projected medium-term deficits that even Obama's aides agree are unsustainable. And by most accounts, his health care reform package, if it passes, is unlikely to yield the clear long-term savings that Obama once suggested...
...course, Congress is pretty busy right now, and not just with health care reform. There are still five of the 12 appropriations bills to pass this year as well as a much-dreaded but necessary measure to raise the federal debt ceiling to $13 trillion. With all these must-pass bills lining up and an imminent sense that the spigot will soon be turned off, Democrats are starting to treat everything as a potential jobs bill. "The appropriations bills can also be looked at as jobs bills," says a Senate Democratic leadership aide. "There's money in them for projects...
...Tuesday, Deputy Prime Minister Naoto Kan, who is also the national strategy chief, and Finance Minister Hirohisa Fujii, stressed the importance of quantitative easing to the Bank of Japan. In turn, the Bank agreed to cooperate by lending 10 trillion yen, in the form of short-term loans, to commercial banks at the rate of 0.1%, and to accept government bonds and corporate debt as collateral...
...told, by the time I took office, the cost of the wars in Iraq and Afghanistan approached a trillion dollars. Going forward, I am committed to addressing these costs openly and honestly. Our new approach in Afghanistan is likely to cost us roughly $30 billion for the military this year, and I will work closely with Congress to address these costs as we work to bring down our deficit...