Word: trillion
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...driving that figure down. First, people are paying off debt - which goes hand in hand with their not spending money on as many new things. In April, outstanding consumer credit - which includes credit cards, auto loans and tuition-financing but not mortgages - fell by $15.7 billion to $2.52 trillion, an annualized drop of 7.4% and the second largest dollar drop on record, after March's $16.6 billion decline. Numbers from April show that people are now saving 5.7% of their disposable income, the highest rate in 14 years. Second, people are shirking their obligations. According to the Mortgage Bankers Association...
...Jersey GRANDMA breaks world record at craps with 1--in--1 trillion...
...display. In today's troubled economic times, the role of the appointment-only museum is arguably growing in importance as consumers worldwide become desperate for bargains. Security experts with the Hong Kong-based consultancy Asia Risk recently estimated that international trade in counterfeit goods could rise to nearly $1 trillion in 2009. The business has long exceeded the value of the global narcotics trade...
...April than they did in March-a sign that the pullback on debt-fueled spending continued into the spring. New data from the Federal Reserve shows that outstanding consumer credit which includes credit cards, auto loans and tuition financing, but not mortgages, fell by $15.7 billion to $2.52 trillion, an annualized drop of 7.4%. That marks the second-largest dollar drop on record, following March's $16.6 billion decline...
...Lawmakers are reluctant to squeeze Medicare and Medicaid payments to hospitals and doctors much more than they already have. And while there's talk of new taxes on cigarettes and alcohol - even junk food and soda - they are not likely to bring in anything close to the $1.5 trillion that outside experts say it could cost over the next decade to bring about universal coverage...