The large number associated with the stimulus bill is being used as a boogey man with which to scare people. There are legitimate reasons for concern, but the number, taken in isolation isn’t one of them. I think I heard Boehner or someone talking about how the stimulus represents more than $2 million per day “since Christ was born.”
Leo Morris references a site that tells us “A billion seconds is 31 years. A trillion seconds is 31,688 years,” before saying “when you see that actual enormous leap between a billion and a trillion, what the government is doing gets really scary.” That only works if a dollar spent by the government bears a relationship to a second. By contrast, as a counterexample, a mere drop of water has 1.5 sextillion molecules.
Now, if you assume — as our government officials currently are — that government spending can have a positive impact on economic activity and that the Gross Domestic Product of the economy is a reasonable way of measuring the size of the economy, then a more plausible comparison is government spending as a percentage of GDP. Another assumption (stacking one on top of the other gets precarious, I know — but this is a free blog, so you get what you pay for) is that World War II got us out of The Great Depression. World War II resulted in a 34% increase in government spending as a percentage of GDP (from about 9.8% in 1940 to 43.6% in 1943-1944). In 2008, the United States had an estimated GDP of about $14.58 trillion.
I don’t know if the real change (+34%) in government spending or the absolute amount of government spending (43.6%) was considered most important in getting us out of the Depression. As of 2003, we were at about 20%. A 23% increase in government spending as a percentage of GDP would mean about $3.3 trillion in additional spending. So, if any of this analysis is valid, it may well be that the $800 billion in the stimulus bill will be insufficient. (And, of course, there is the tiny matter of *what* we’re spending it on.)