What’s a Few Billion or Trillion Dollars?

What’s a few billion, or trillion, dollars between friends, businesses, or countries? Billions and trillions of dollars are numbers we hear quite often in the media. A few notable examples include:

• In 2016 the U.S. sent $400 billion to Iran in the nuclear deal. 
• Our government bailed out banks to the tune of $700 billion back in 2008. 
• The total government spend in 2023 was $6.1 trillion, increasing the national debt by $1.7 trillion.

U.S. national debt currently stands at $34 trillion…and counting. That’s 34 with 12 zeros after it ($34,000,000,000,000)! 

Even though it’s a little dated now because the debt increases about $5 billion per day, if you want a visual to drive home just how huge our debt is, click here. 

Can we realistically pay it off in our lifetime, or any lifetime?

In persuasion there’s something known as the contrast phenomenon. This tells us two things will appear more different depending on what’s presented first. Without something to compare to, none of us can really grasp billions and trillions of dollars so let me give you some comparison points.

With 340 million Americans, we could pay off the national debt if each of us, including children and infants, gives the government $100,000. Not doable so what are other options?

What if we eat the elephant one bite at a time and slowly pay it down by $1 million per day? A million dollars is a lot of money. At that pace it would take 93,151 years to pay it off. Let that sink in for a moment!

Okay, a million dollars doesn’t go as far as it used to, but a billion dollars is a lot of dough. What if we reduce the debt by a billion dollars a day? Sorry but it’s not likely anyone reading this, or their kids, will be alive to see it paid off because it would still take 93 years. 

How about sticking it to the ultra-rich? If we liquidate the wealth of the 10 richest people on the planet (their worth is $1.2 trillion) that still leaves us with $32.8 trillion in debt. We’d still need 90 years to pay it off at a billion dollars a day.

Let’s go for the 100 richest people in the world. That should do it, right? Their net worth is almost $4.2 trillion. Unfortunately, that still leaves $29.8 trillion, or about what we owed at the end of 2021.

I could go on and on, but you get the picture. We don’t have an inequity problem or a tax revenue problem, we have a spending problem. It stems from limited resources and unlimited needs (military, social security, health care, education, etc.). 

Trying to reduce the debt by taxing people more and more is like trying to lose weight through exercise alone. You can’t burn enough calories to lose significant weight if you don’t also change your eating significantly. 

Running a marathon only burns 3,275 calories which isn’t even equivalent to a pound of fat! Maybe a marathon is too big a goal so let’s reduce it somewhat. Most candy bars are 200-250 calories, about the calories you’ll burn running a couple of miles a day. I think we’d all agree, skipping the candy bar is probably the right, and much easier, choice (sorry Snickers).

I don’t share this to depress you but to alert you. There are two important takeaways I want you to remember:

1. Pay attention to what’s shared with you and find legitimate comparisons so you really understand the data.
2. Use the contrast phenomenon to your advantage. When people might not grasp what you’re proposing, make sure you include valid comparison points.

Brian Ahearn

Brian Ahearn is the Chief Influence Officer at Influence PEOPLE and a faculty member at the Cialdini Institute.

An author, TEDx speaker, international trainer, coach, and consultant, Brian helps clients apply influence in everyday situations to boost results.

As one of only a dozen Cialdini Method Certified Trainers in the world, Brian was personally trained and endorsed by Robert Cialdini, Ph.D., the most cited living social psychologist on the science of ethical influence.

Brian’s first book, Influence PEOPLE, was named one of the 100 Best Influence Books of All Time by Book Authority. His follow-up, Persuasive Selling for Relationship Driven Insurance Agents, was an Amazon new release bestseller. His latest book, The Influencer: Secrets to Success and Happiness, is a business parable designed to teach you how to use influence at home and the office.

Brian’s LinkedIn courses on persuasive selling and coaching have been viewed by more than 700,000 people around the world. His TEDx Talk on pre-suasion has more than a million views!