PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Torch Guy
 
Comments: 72
Article views: 8429
 
 
Latest Badges:


 
View all Torch Guy's badges.
 

How much is a billion rand?

02 October 2014, 21:00
How much is a billion rand? I got to thinking about this question after reading about how various government departments are spending a couple of billion here, or can't account for a couple of billion there. And then I saw an article about our national debt, which is over a trillion rand. How much is that, really?

Well, a million seconds is 12 days, a billion seconds is 32 years, and a trillion seconds is over 30,000 years. If a million rand were divided among the 52 million South Africans, we'd all get 2c. If we split a billion rand equally, we'd all get a little under R20. But a trillion rand is almost R20,000 each.

I read today that our national debt is R1,551 trillion, and state-owned enterprises owe another R0.47 trillion, giving a total national debt of over R2 trillion. That's over R40,000 for every man, woman and child in this country.

Considering that roughly half our population is children, and a good number of adults take money out of the government piggy bank, rather than putting it in, we're talking about roughly R100,000 that must be paid back by every economically productive person... with interest.

That's on top of our regular living costs, and the taxes which are used to pay all government salaries and running costs.

Oh, and they're talking about borrowing a LOT more to increase electricity generating capacity, and prop up SAA, and, and, and... So now you know what a billion and a trillion mean, would you like me to explain the word "unsustainable"?

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
72 comments
Comments have been closed for this article.

Read more from our Users

Submitted by
Thandisizwe Mgudlwa
Don't take Zuma's accusations lig...

Zuma's accusations that two of his comrades Ngoako Ramatlhodi and Siphiwe Nyanda, among others, were agents of the apartheid regime, hence they want to destroy him, can not be taken lightly. Read more...

0 comments 1409 views
Submitted by
Submitted by
LETTER: Zuma's testimony meant to...

I would have rather not allowed Jacob Zuma to derail the focus of the country and the movement away from mandate of the Zondo commission of inquiry because that is precisely what his outburst is intended to achieve.  Read more...

0 comments 256 views
Submitted by
Thandisizwe Mgudlwa
Ramaphosa doomsayers' criticism p...

It may be naive to seek to predict what the outcome of a nation's leader would turn out to be. South Africa's sixth administration is still coming out of the starting blocks. Read more...

0 comments 1250 views
Submitted by
An exodus of talent caused by cor...

When the country sees the very top of the pile getting away with blatant corruption it is little wonder why crime flourishes. Read more...

0 comments 2790 views
Submitted by
Patient abuse: Sharing content mu...

It is extremely easy, taking a mere split-second to share a video, but pre-sharing it, it is the duty and responsibility of the sharer to ethically deem whether the to-be shared content is an infringement on the basic privacy rights of the subject within the video.  Read more...

0 comments 672 views
 

services

Press Code We subscribe to the Press Code.

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

Terms and Conditions 24.com Terms and Conditions - Updated April 2012

 
Interactive Advertising Bureau
 
© 2019 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.