Notice that this shows only that there are no more whole numbers than rational numbers, and no more rational numbers than whole numbers. To conclude that there is the same number of each (more generally, that cardinal numbers are totally ordered (EDIT: as ionfish (http://news.ycombinator.com/item?id=4251492) points out, I should have said that the inclusion relation on cardinals is antisymmetric)) is actually a bit delicate; it's called the Schröder–Bernstein theorem (although Wikipedia attaches more names, in a different order: https://en.wikipedia.org/wiki/Cantor%E2%80%93Bernstein%E2%80...).
http://en.wikipedia.org/wiki/Cantor–Bernstein–Schroeder_theo...
That being said, although important in the theory of the order of the cardinal numbers, Cantor–Schröder–Bernstein doesn't show that the cardinals are totally ordered. That statement is actually equivalent to the Axiom of Choice, whereas as far as I'm aware Cantor–Schröder–Bernstein holds in ZF.
It's a little irrelevant to this thread... but as long as I'm quoting non-proofs that require lots of extra machinery, I'll give my favorite appeal-to-intuition equivalent of choice: the product of non-empty sets is non-empty (any point in the product of a collection of non-empty sets is a choice function on those sets).
http://en.wikipedia.org/wiki/Axiom_of_choice#Equivalents
Something I find pretty interesting is that some of these equivalences break down in weak systems.
http://www.math.uchicago.edu/~antonio/RM11/RM%20talks/mummer...
Equivalence breakdown in alternate systems is a wonderful topic. I've been trying for a couple years now to figure out how to get back into set theory now that I'm out of academia. Maybe later this summer...
Good point, thanks; I've corrected my post accordingly.
http://en.wikipedia.org/wiki/Calkin%E2%80%93Wilf_tree
In the tree every rational appears exactly once in lowest terms, and is easily generated recursively.