I have read, understood and accepted Gartner Separate Consent Letter , whereby I agree (1) to provide Gartner with my personal information, and understand that information will be transferred outside of mainland China and processed by Gartner group companies and other legitimate processing parties and Imagining what you might do if you won the lottery or received a huge inheritance from a long-lost relative is a classic daydream. This website uses cookies to improve your experience while you navigate through the website. Republicans have made no secret about their opposition to the Inflation Reduction Acts investments to fight climate change. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, , Senior Digital Technology and Science Reporter, A game is offering players the chance to try their luck at spending Elon Musk's net worth, The Tesla boss has amassed a $166billion fortune, Players soon learn that chewing through billions of dollars is more difficult than it might first seem, Items you can 'purchase' include a $50million launch of a Falcon 9 rocket, You can also nab yourself a few dozen $194,000 Telsa Model S electric cars, Musk has enough cash to buy everyone in Los Angeles a $41,000 Rolex, Musk could purchase a fair few New York City apartments, which fetch $1million on average, Elon Musk reveals he has Aspergers as he hosts Saturday Night Live and is joined by his mom on the show, Independent Press Standards Organisation (IPSO). The cookie is used to store the user consent for the cookies in the category "Performance". But the bill does not specify the exact agencies or programs on the chopping block, leaving the task to lawmakers on congressional appropriations committees who craft spending bills that keep the government running and stave off a shutdown. The sp_t cookie is set by Spotify to implement audio content from Spotify on the website and also registers information on user interaction related to the audio content. If you owned a trillion dollars and spent $1,000,000 each day, it would take you just under 2,740 years to spend it all. I will likely bring someone in to manage my charity. Like the Federation. The cuts probably would target federal health care, science, education, climate, energy, labor and research programs, while leaving untouched the Pentagon and services for veterans. Tell us about the things you would do with your cool million, and we'll be able to tell you which of your traits is the most positive. Spend a Trillion Dollars The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling that includes sweeping spending cuts The timing of the government spending cuts in [the bill] is thus especially inopportune as it would meaningfully increase the likelihood of such a downturn, the company said. My question is, is this what leadership is going to demand from the Senate, or are we going to get something watered down? Rep. Ralph Norman (R-S.C.) told HuffPost. That is going to cost around $100 trillion in investment by 2050 to get us, globally, to zero carbon emissions. Youve mentioned a couple of philanthropists and billionaires. That is exactly what I'm talking about! WASHINGTONThe House on Wednesday passed a Republican debt ceiling plan that includes $4.5 trillion in cuts and raises the debt ceiling until May 2024, but Democrats say it won't ward off a potential government defaultthis summer. About 275,000 people, on average, would lose eligibility for food assistance through the Supplemental Nutrition Assistance Program each month, and 19,000 more would see their benefits reduced, the CBO said. If adhered to, the caps would cut about $3.2 trillion from the pool of yearly appropriations to agencies including the Pentagon, the Department of Health and Human Services and the Environmental Protection Agency. LinkedIn sets this cookie to store performed actions on the website. So how about cracking down on that unpaid tax a bit, freeing up a few trillion dollars. And its about the same as some of the biggest companies, like Apple and Amazon. White House: Nothing New To Say, House Republicans Have A This cookie is used to detect and defend when a client attempt to replay a cookie.This cookie manages the interaction with online bots and takes the appropriate actions. Yeah, absolutely. I'm going to buy a lot more clothes from all the places I'm going to visit. To inquire about a licence to reproduce material, visit our Syndication site. But what it could do is the ball is already rolling towards carbon-neutral energy, right? I mean, NASA have got projects going out to the moons of Jupiter and Saturn. The CBO baseline is projecting that if things stay on the current path for the next 10 years (2024-2033), the debt will be increased by $20.2 billion. a TRILLION If you could get a treaty, get countries signed up into an Earth Fund, you could perhaps start with trying to save the Amazon or the Arctic. IRA FLATOW: This is Science Friday. Highlighting the harm of such cuts earlier this year, Biden administration officials predicted more flight delays, slower Social Security checks, reduced college aid for needy students and significant reductions in the number of people served by affordable housing programs, according to letters they sent to Congress earlier this year. 5 facts about the U.S. national debt | Pew Research Center trillion I will eat at fancy restaurants with business associates so I can write it off. I may do some traveling to scout out some investment opportunities. Will you be buying new furniture for your home? Can You Waste $1 Billion In A Week? - Quizly Or if you prefer, a thousand billion. )3 Also in the spring of 2020, Congress appropriated $3.6 trillion, $1.9 trillion of which had been disbursed by July 2020. And what we need to do is push it faster, get it rolling faster. Its 1% of world GDP, is another way of looking at it. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. The use of these cookies is strictly limited to measuring the site's audience. No, but I could see contributing to a soup kitchen. IRA FLATOW: How much is a trillion dollars? To start off with, you won't be able to make any high value purchases in 24 hours, especially in cash. It's about finding ways to squeeze out more of America's middle class.". Potential cracks in the GOP lines persisted. But it makes it more equitable. Heres what you can do about it, and how to balance individual and systemic action. CQ Roll Call is a part of FiscalNote, the leading technology innovator at the intersection of global business and government. How to Spend a Trillion Dollars The nonpartisan Congressional Budget Office said the bill, would cut the budget deficit by $4.8 trillion over 11 years. I don't plan to be home very often. WebHow To Spend a Trillion Dollars is both original and ingenious. In fact, Bidens 2024 budget proposal also projected that when that $10 trillion mark is reached, the deficit for that year will be over $2 trillion. You couldnt build a particle collider thats within the orbit of Mars that would allow us to really throw particles, collide particles together with such velocity that youd be able to really probe the structure of reality much more than we can do with the Large Hadron Collider. Lets see what you could do with it. And they tacked on permitting legislation that could ease the way for more oil and gas drilling. All information these cookies collect is aggregated and therefore anonymous. I have read, understood and accepted Gartner Separate Consent Letter , whereby I agree (1) to provide Gartner with my personal information, and understand that information will be transferred outside of mainland China and processed by Gartner group companies and other legitimate processing parties and Do you think you will purchase a recreational vehicle? It's probably not for me, but I'd love to see others do it. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. There are some travel books that I'll want to pick up. And it would be just a beacon of hope. How would you use it? GOP leaders updated their bill in the hours before debate to allow some of those investments to continue. Not at all. They raised the debt ceiling three times during the Trump administration, she said, but now they are using the full faith and credit of the U.S. to try and force spending cuts Democrats will not accept. It's broken into 10 chapters/ways to spend the trillion, each with its own allure and reward. Revenues from both individual income taxes and corporate income taxes were the highest they have ever been. But they do that a lot. The JSESSIONID cookie is used by New Relic to store a session identifier so that New Relic can monitor session counts for an application. House Republicans would raise the debt ceiling by $1.5 trillion, or suspend it until March 31, 2024, whichever occurs first. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. If someone handed you a million dollars, you might feel inclined to hoard it - but the rules of this quiz require that you blow the lot! That is going to be my favorite new pastime. And so we really need to shut that down. So if you think about it as the richest people in the world, its either Jeff Bezos or Elon Musk, and theyve got about $220 billion. LinkedIn sets this cookie to remember a user's language setting. Let's go shopping! And I think that the consequences of a single power or corporation getting there are so, so incredible that, ideally, I would love to spread out the benefits of that wider across the world, just so that we dont end up with one corporation or one entity, one state, really dominating the rest of us if they do get to this breakthrough kind of AI, or a breakthrough kind of quantum computer as well. This cookie is managed by Amazon Web Services and is used for load balancing. McCarthy pointed the finger at Biden, claiming the president is "ignoring" the debt crisis. Imports turned up. So I just wanted to show that there are solutions out there, and we can do this. But opting out of some of these cookies may have an effect on your browsing experience. If Bidens 2024 proposed budget actually passed, he would add as much to the national debt as Trump and Bush 43 combined. Thank you for helping us continue making science fun for everyone. I think that would be something really worth doing, because then you get this pristine view into the galaxy, into the universe, that we simply cant do on Earth. This week, Biden threatened to veto the bill if it ever reaches his desk, arguing that it would inflict significant financial harm on families. 5 facts about the U.S. national debt | Pew Research Center But thats not something we can do anytime soon. Absolutely. I will keep it going for many, many years. So interestingly, this is what Jeff Bezoss Earth Fund is doing on a smaller scale than a trillion dollars, but still, theyre doing it on a very effective scale by purchasing land that is both vital for carbon stores and for biodiversity. The next trillion seconds is 317 centuries. We could go to the far side of the moon and put a space observatory there, a science observatory on the far side of the moon. If you had one trillion dollars, you could spend it in a lot IRA FLATOW: Yeah, so my question is, how do you get people to commit this kind of money? The outcome marked an escalation in the standoff between the House Speaker Kevin McCarthy (R-Calif.) and Biden, as Republican leaders hardened in their resolve to exploit a key fiscal deadline for political leverage even at the risk of causing the U.S. government to default. It does not store any personal data. With that, lets jump into the data. The bill would suspend the debt limit until March 31, 2024, or until the Treasury had used $1.5 trillion in borrowing authority, whichever arrived earlier. How likely are you to get the newest gadgets on the market? According to the CBO, Biden is going to match Trumps addition to the national debt in just three years, reaching a total of $7.1 trillion over his four years. Thats the question asked by Rowan Hooper. The United States hit its current limit set at $31 trillion in January, prompting the Treasury Department to start making special maneuvers to continue paying federal bills and stave off a fiscal calamity. What do you make of the game? Do it right and save the Nearly all of that debt about $31.38 trillion is subject to the statutory debt limit, leaving just $25 million in unused borrowing capacity. It's all about leverage. That's not going to be something that I spend money on. Trillion-dollar deficits: Bidens new normal, It's time for the president to meet Republicans at the negotiating table. IRA FLATOW: Wow. I could use that for a number of things. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". This would not be a focus of my spending. That is, actually, what the singularity is, isnt it? House Republicans would raise the debt ceiling by $1.5 trillion, or suspend it until March 31, 2024, whichever occurs first. All right, lets talk about where to spend the money, because you have some other ideas. spend There will be some, primarily as a tax write-off. "It's about cutting benefits for folks that they don't seem to care much about. There are so many people to help. Lets begin with some context here. SPEND A TRILLION DOLLARS Are you targeting governments? FactChecking Biden's Reelection Remarks - FactCheck.org Apparently, Biden decided to ignore that crucial point. And then youll get new ideas, and the thing will start rolling on. So there are things that people think about that are still very, very far off. I might get something that would be a fun project to work on. Would you like to open your own restaurant? But if it did, the effect on the economy would be harmful compared with passage of a clean debt limit bill, according to, While the economy skirts recession in both scenarios, recession risks are uncomfortably high, with a consensus of economists and many investors and business executives expecting a downturn beginning late. Do you anticipate that your circle of friends will change? Yeah. Consider that federal expenditures were about $4.8 trillion in 2019 but were over $6 trillion in 2022. In the fourth quarter, GDP increased It has 12 zeroes: looking for trillions-worth of video games and ramen noodles to repossess. The $7.2 trillion added to the debt held by the public under Trump compares with $8.1 trillion added during the eight years of former President Barack Obama and Vice President Biden. The federal governments total public debt stood at just under $31.46 trillion as of Feb. 10, according to the Treasury Departments latest daily reckoning. There will definitely be a charity aspect of my new venture. That could cost us under a trillion bucks? This cookie is set by GDPR Cookie Consent plugin. I don't need much, just something that gets me from point A to point B. Do you see yourself buying a lot more gifts for others? First, the bill targets the Supplemental Nutrition Assistance Program, or SNAP. Gross Domestic Product, First Quarter 2023 (Advance Estimate) I may direct my charity to make certain investments. The cuts in annual spending would still leave it in 2024 at about $125 billion above what former President Donald Trump had proposed in his final budget. Spending I recently did work to winterize my home. Contrary to Bidens constant complaint that business doesnt pay its fair share, revenues from corporate income taxes in 2022 were over $400 billion, also for the first time, and an increase of 101 percent over 2020. All rights reserved. Talk about that. IF you've ever wondered how tricky it would be to empty Elon Musk's coffers, then have we got the website for you. For McCarthy, the process proved precarious, forcing him to make late changes to the legislation to assuage about a dozen moderate and conservative holdouts. Speaker McCarthy unveils $1.5T debt bill, pushes toward vote I will have a whole team of financial experts working with me. Towards renewable energy. Oh yeah, I want to try anything that is new and innovative. The GOP bill would also make it harder for states to spare certain families on SNAP from federal work requirements a flexibility some states have used to help lower-income people during times of high unemployment. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. House speaker Kevin McCarthy (R-Calif.) outlined the partys new proposal at the New York Stock Exchange on April 17. What size house will you buy for yourself? That might be fun. I will definitely dress the part of the successful entrepreneur. But Republicans have run into problems as Biden refuses to even discuss the House majoritys proposals. House Speaker Kevin McCarthy has unveiled a sweeping package that would raise the nations debt limit by $1.5 trillion into next year. Let us know in the comments! That is a very strong possibility, especially if it is an innovative idea. I will leave the Biden reelection announcement to the Twittersphere to discuss. Biden told McCarthy he would not negotiate on the debt ceiling, arguing it should be raised by Congress without parameters. That sounds fun. This cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website. I'm sure that I'll bring back some pieces from my travels. Bidenpreviously said he will refuse to negotiate with Republicans over their proposal, claiming theplan would hurt "hard-working"peoplethe most. We also use third-party cookies that help us analyze and understand how you use this website. The work requirements may save the government money, but they threaten to come at the cost of millions of families financial well-being, according to some outside estimates. In other news, Musk recently claimed that his company SpaceX could landastronauts on the Moonwithin the next three years. More people, better technology, some costly ingredient or supply? LinkedIn sets this cookie for LinkedIn Ads ID syncing. This cookie is set by GDPR Cookie Consent plugin. We could do loads of observations of dark energy, dark matter. A free game challenges players to try their luck at spending the kooky Tesla boss's $166billion (116billion) fortune in just 30 seconds.
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