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Tuesday, November 25, 2008

The bailout is going to cost us ... Big Time

Did you ever wonder how much the Bailout brought on by the shrub's and the repgicans fucking up of our economy (not to mention the world's economy) will cost us?

Here's a clue:

The Bailout costs more than the Marshall Plan, the Louisiana Purchase, the Moonshot Program, the S&L bailout, the Korean War, the New Deal, the Iraq war, the Vietnam war, and NASA's lifetime budget ... COMBINED!

Barry Ritholtz says:
In doing the research for the "Bailout Nation" book, I needed a way to put the dollar amounts into proper historical perspective.

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.

Crunching the inflation adjusted numbers, we find 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

TOTAL: $3.92 trillion

And the repugicans still say they are better at handling the economy!? What a crock! It took only eight years to ruin our economy and screw us over for more than any time in history!

Never again!

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