Word: trillion
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...though, there is abundant gas and limited capacity for storage. The U.S. is on track to store 3.8 to 4.0 trillion cu. ft. this year. The contiguous U.S. has never put more than 3.6 trillion cu. ft. of gas in storage...
...equivalent position in the October futures contract amounts to over a trillion cu. ft. of gas. Given that the U.S. consumes an average of about 2 trillion cu. ft. of gas per month, UNG's position in the front month - at over half of that month's consumption - seems too large for a purely speculative fund...
...these are penny-size ideas. Now that trillion has replaced billion in our fiscal conversations, the scope for inventive incentives is vast. The cost of treating obesity has doubled in a decade, to $147 billion. So how about Cash for Chunkers: we get to trade in that extra 20 pounds for a coupon good at the local farm stand. Roads and bridges crumbling? Why bother allocating $27 billion in stimulus money when we could pay people to reroute or, better yet, stay home? California plans on releasing at least 37,000 inmates to ease prison overcrowding and save $1 billion...
...hoard your money under the mattress just yet. After all, the $9 trillion figure is just an estimate, and who knows what the economy will look like in 10 years. With any luck we won't be in a recession anymore, so revenue will be up and stimulus spending will disappear. The real budget problems lie in the long-term programs, such as Medicare and Social Security: Medicare's 2003 prescription-drug program has added nearly $1 trillion to the deficit and baby boomers' looming retirement will stress Social Security's already financially precarious situation. It's one thing...
...Bernanke's War on the Great Panic, David Wessel details how Bernanke essentially turned himself into a fourth branch of government, exploiting a loophole in a 1932 law that gave the Fed wide latitude in "unusual and exigent circumstances" to become a virtual economic commander in chief, dropping several trillion dollars into the nation's credit jet stream without presidential or congressional input, inaugurating all kinds of unprecedented programs with obscure acronyms. His motto, Wessel writes, was "whatever it takes...