What could you buy with $1.2 Trillion?

The New York Times did an article in 2007 about putting into perspective, how much $1.2 Trillion actually is.
Here is one way the U.S. could spend $1.2 Trillion

For starters, $1.2 trillion would pay for an unprecedented public
health campaign — a doubling of cancer research funding, treatment for every
American whose diabetes or heart disease is now going unmanaged and a global
immunization campaign to save millions of children’s lives.

Combined, the cost of running those programs for a decade wouldn’t
use up even half our money pot. So we could then turn to poverty and education,
starting with universal preschool for every 3- and 4-year-old child across the
country. The city of New Orleans could also receive a huge increase in
reconstruction funds.

The final big chunk of the money could go to national security. The
recommendations of the 9/11 Commission that have
not been put in place — better baggage and cargo screening, stronger measures
against nuclear proliferation — could be enacted. Financing for the war in
Afghanistan could be increased to beat back the Taliban’s
recent gains, and a peacekeeping force could put a stop to the genocide in
Darfur.

Here's another way they could spend that kind of dough.

War

This is close to what the states has, or will spend on the war. According to this article (up to the time the article was written), direct spending on the war was up to $700 Billion. Hmm, that's a familiar number.

Read the article. It's pretty interesting.