National Debt

If Bill Gates and I both buy our own private Gulf Stream jet planes, which of us will have the tougher time making the payments?

Narrowly avoiding a national default on it's debts, the US Senate passed the raising of the debt ceiling in a 74-26 vote. The raising of the ceiling will be offset by $2.4 trillion in budget cuts. Where will these cuts come from?

President Barack Obama said Sunday night that he and Congressional leaders had reached a debt deal that cuts trillions in federal spending. The debt ceiling plan was set to face a vote on Monday in hopes of enacting it before a Tuesday deadline, thus averting default, The New York Times reported.

That's a big number, right? Let's round it off to $3.66 billion. What is that number?

If you're like most people not involved with drug trafficking, you don't often actually see U.S. money with more than one or two zeroes on it, as in $50 or $100.