Out of curiosity I did the same thing in Ruby for comparison.

   N = 1E6.to_int
   N.times { |i| puts "x#{i} = #{i}" }

Then running it with:

   time ruby big.rb

It never completed, because it allocates variables on stack.

   Traceback (most recent call last):
   big.rb: stack level too deep (SystemStackError)
   ruby big.rb  1451.52s user 23.74s system 97% cpu 25:08.23 total