$700 Billion equals what exactly?

Many people have been asking this question. What does $700 Billion reall equal/mean? Very good point/question! What does that mean to us in the Panama City Beach Florida Real Estate market? How will it affect us? What does it mean for people who own and people that rent? Below is a good breakdown of what it means exactly:

Daily Real Estate News September 22, 2008

How Much Is $700 Billion Anyway? The proposed financial bailout package being considered by lawmakers will come at a cost of as much as $700 billion.

To put it in perspective, using numbers from the U.S. Census, the $700 billion is equal to:
About $2,300 per American
About $6,000 per U.S. household
About 85 percent of the New York State economy
The combined economies of all U.S. states beginning with the letter "A": Alabama, Alaska, Arizona, and Arkansas; plus Oklahoma.The tally for all the various rescue measures launched by U.S. authorities this year runs to about $1.8 trillion. The $1.8 trillion is equal to:
About $6,000 per American
About $15,500 per U.S. household

Really not a lot of money when you break it out. Stay tuned to Panama City Beach Florida Real Estate for more information!