A Trillion Here, a Trillion There…

A billion here, a billion there, and pretty soon you're talking real money.
--Attributed to the late Sen. Everett Dirksen

With the kinds of numbers we are seeing nowadays, I reckon the good ole Republican Senator from Illinois might have been known for a slightly different quip if he had lived for another 40 years or so:

Consumer credit outstanding: $ 2.4 trillion

Mortgage debt outstanding: $ 10.6 trillion

Federal debt outstanding: $ 14 trillion

Commercial/multifamily mortgage debt outstanding: $ 3.2 trillion

Municipal bonds outstanding: $ 2.8 trillion

Corporate debt (non-financial companies) outstanding: $ 7.4 trillion

Public pension underfunding: $ 2.5 trillion

Infrastructure investment needed: $ 2.2 trillion

U.S. fiscal gap: $ 202 trillion

Not so funny anymore, however.