The Mega Millions lottery jackpot has made headlines of late by hitting an all-time high of $640 million.
Editorial cartoonist Gary Varvel puts that into perspective:
To see how fast the Federal Government is spending money, divide the budget for 2011 by 8760 hours in a year you get over $400 million per hour. Now, here’s a perspective on how much 1 trillion is: If you spent $1 million every day since the time Christ was born until now, you will have spent approximately, $735 billion. Think about that. $1 million every day for 2012 years and you still will not have spent $1 trillion. And we’re $15.5 trillion in debt.
At the rate of $400 million/hour, it would take the federal government 96 minutes to spend the entire Mega Millions jackpot.
That’s not a problem we can fix by raising taxes.