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Tuesday, November 25, 2008

More on the Economy

Maybe I'm able to be detached about this because I haven't lost my job yet, but at some point you just have to laugh at the actions of our government. Again, this deserves to be quoted.

If we add in the Citi bailout, the total cost now exceeds $4.6165 trillion dollars. People have a hard time conceptualizing very large numbers, so let’s give this some context. The current Credit Crisis bailout is now the largest outlay In American history.
Jim Bianco of Bianco Research crunched the inflation adjusted numbers. The bailout has cost more than all of these big budget government expenditures – combined:

  • Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
  • Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
  • Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
  • S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
  • Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
  • The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
  • Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
  • Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
  • NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion (Note: this would be the TOTAL cost of all annual expenditures over 50 years.)
    TOTAL: $3.92 trillion

I mean, really...damn.

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