Money Without Boundaries

Appendix BA House of Cards

As I was finishing up writing this book, the US government was in the throes of a record-setting government shutdown over President Donald Trump's demand that Congress allocate $5 billion to build a wall along the border with Mexico. I was at a dinner, and as it always does, whether you want it to or not, the conversation turned to this potentially volatile political topic. One bright individual, who is quite well-read on current events, was appalled that Trump would suggest spending so much money – $5 billion! – on the project. I was surprised.

“Do you think $5 billion is a lot of money?” I said. “Of course,” they said, and everyone around the table – very smart, well-educated people – nodded in agreement.

I guess that makes sense. People think millions of dollars is a lot of money, so of course $5 billion seems like gobs of money – but when you put it in perspective, it's not. Not in the make-believe money world we live in today. When you consider that in 2019 the US government would spend about $4.4 trillion and take in $3.4 trillion – creating a deficit of $985 billion¹ – $5 billion is chump change (everyone's feelings about the politics behind the wall aside, of course). It's like having household debt of $1 million, making $250,000, yet still putting $30,000 per year on a credit card, and arguing with your wife over the cost of toothpaste. There are so many bigger issues that could shut down a household, and to get a divorce over toothpaste ...