The Obama tsunami

posted by
April 26, 2011
Independent Institute
by Randall Holcombe  
Posted in Commentary

"The terrible earthquake and tsunami in Japan last month helps visualize some big numbers. Surely you’ve seen image after image of the terrible destruction the Japanese have suffered. Recent estimates place the damage suffered in Japan as high as $309 billion. Those images give some indication of how massive destruction of that magnitude is. Meanwhile, the 2011 federal budget deficit in the United States is about $1.5 trillion, or about five times as large as the damages from those natural disasters in Japan." (04/25/11)  

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