A Few Relevant Numbers

Few people are publicly considering what the COVID-19 pandemic is doing to the American economy. Paul Krugman is not optimistic. I agree with him. The country will, arguably, have less money to spend in the future, although there are many caveats to that.

The right, in the past, has used crises to justify radical social changes. It’s time for progressives to do that. A Democratic sweep in November makes many things possible. Let’s assume that can happen.

To start, we need to know some numbers, to get a handle on the scale of things.

National Debt  $24.95 trillion

Deficit in 2019  $984 billion

Wealth of top one percent (Exceeds wealth of bottom 80 percent)  $25 trillion

Department of Defense 2019 budget  $686.1 billion

Department of State 2018 budget  $52.4 billion

Amount spent on policing 2017  $115 billion   Corrections  $79 billion

Community colleges   $126 billion*

Student debt  $1.5 trillion

Healthcare  $3.5 trillion

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* Calculated from the report as 9 million students x $14,000 per student per year

Cross-posted to Balloon Juice

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