We spend a lot of money

An insightful discussion with one of my fraternity brothers prompted me to do some comparisons. Talk of billionaires came up, and contrary to popular belief, there aren’t that many billionaires in the United States. (Wikipedia says 403)

It got me thinking….

  • How much are the Forbes 400 worth if you add their total net worth? $1.369 trillion dollars.
  • How much was the Federal Budget Deficit in FY 2010? $1.290 trillion dollars.

So, if we confiscated the entire accrued wealth of who are widely understood to be the 400 richest Americans — something that has taken thoseĀ 400 people their entire lives (26,281 years combined) to earn, we’d have about $80 billion left over after paying off last fiscal year’s deficit.

Just some perspective.

To see the Forbes 400, and my data, click here.

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