Tuesday, December 2nd — Bailout

December 3, 2008

Today I Learned…

…that the so-called “bailout” will be the most significan outlay in the history of the United States.  Adjusted for inflation, it will cost more than the Marshall Plan, Louisiana Purchase, the race to the moon, the savings and loan crisis of the ’80s and ’90s, the Korean War, the New Deal, the Iraq War, the Vietnam War, and the entire lifetime budget of NASA (EDIT: and possibly the entire cost of World War II).

Combined.

EDIT: Check out this “new” (several-weeks old now) estimate from Bloomberg and the New York Daily News putting the total outlay at almost seven-and-a-half trillion dollars.

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3 Responses to “Tuesday, December 2nd — Bailout”

  1. dichotomousmind Says:

    Source? Evidence? I don’t know what “the bailout” adds up to, but two things I see:

    1) The total cost of the Iraq, Vietnam, and Korea wars in current dollars is about 1.6 – 1.7 trillion dollars. Everything else on that list probably brings the total to around about 2 trillion.

    2) Even if, somehow, the government is putting out 2 trillion dollars in bailout, you forgot WWII. Total cost in current dollars: 4.1 trillion.

    Source: http://manyeyes.alphaworks.ibm.com/manyeyes/visualizations/89ade5ae1b698c4b011b6b494ac80191/comments/253a88b8ada011ddbde3000255111976

  2. Tyler Says:

    I think the figures include the AIG bailout too. It might be based on the sum of the money that we’ve spend handling the so-called “economic crisis.” I can’t find the page that I took those figures from, unfortunately. I should have linked to it last night to begin with.

  3. Tyler Says:

    The NY Daily News and Bloomberg are reporting that the entire cost of the bailout is reaching $7.4T, and that’s a low-end estimate from a few weeks ago — I’ve seen as high as $8.5T. In that case, you could very easily include WWII on that list.


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