Friday, November 28, 2008

Relative cost of the bailout

In response to the so-called credit crisis, the government has obligated itself to spend $4.6 trillion. That number is so large, it is hard to grasp. Someone in cyberspace was kind enough to adjust other large government expenses for inflation so that we can compare the current bailout to the cost of other major government expenditures that have occurred at other times in history.

Inflation adjusted government spending for ALL of the below programs combined is LESS that the cost of the current bailout which is $4.6 trillion:

• 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
• 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


Anonymous said...

I didn't think it would bother me - the local health care coverage for those who opt for work that doesn't cover bills, and those who opt for bills that aren't covered by wages.

But now it does. I sacraficed a good part of life to earn enough money to provide, and it irks the hell out of me to see others sitting comfy in two parent households where the wife can stay home with the lone child.

Either we all get health care, or none.

Either we all get housing, or none.

Either we all get bailed out, or none.

Either we're all equally responsible for our children, or none.

Was it always this way and illusion was only recently shattered?

Anonymous said...

And further, I'm out here working like a freakin dog for a hostile boss in order to make enough money to be responsible.

I'm pissed.

But talk does nothing. Nothing. People need to vote differently, things are seriously out of control when taxpayers flood the gov't website in numbers that crash the site, and the elected reps still vote against the taxpayers.

jim adams said...

Anonymous, you said it, talk does nothing. So stop bitching and do something - run for office.

Of course if you win we well all bitch about you, and not the other guy.

Don't you just love human nature.

Anonymous said...

At risk of providing an opening for unproductive dialogue that I have no intention of perpetuating, there are more ways to make a difference than running for office.

Freemarket said...

The people who make a difference are people who come up with creative ideas like Bill Gates, Steve Jobs, and the millions of other entrepreneurs in this country. I have little or no respect for elected officials, and I don’t think that being elected to office is honorable at all.

Anonymous said...

Even beyond good ideas which are plenty, are the people who can make things happen.

Infrequently it's elected people - they are more in the way than anything else.

Putting a plan or improvement into action and practice is the goal.

Anonymous said...

Also, being elected is nothing that a good salesperson can't do.

And that's the only skill required.

jim adams said...

Anonymous, you sure sound like a politican.

I still think you should run,
how do you know what it is like until you have been in another man's (or woman's) shoes.

Nothing ventured,
nothing gained.

PZGURU said...

This Country would be so much better off if we could lay off Congress - permanently. When we have people like William Jefferson, Charlie Rangle, Ted Stevens, and so on, in Congress, and they keep getting re-elected, is it any surprise that Congress is so messed up, and that they in turn have so messed up the entire country?

JIM - you're being very naieve about this. Even if anon got elected, how does one person get all of the other corrupt or incompetent elected officials to stop being corrupt or incompetent? The answer is you can't. That's why Obama will be a total disappointment. 65 million people think he's going to change things but he's just as partisan and politically corrupt as anyone else in DC. Money rules the day, that's why the people's voice doesn't mean much.

jim adams said...

PZGURU, run for office.
You wouldn't want to be corrupt or incompetent would you, so we would have two good politicans in office, you and Anon.

But I think you'll respond by giving me one, two or a dozen reasons why you wouldn't or can't run, but that's understandable, it's human nature for people to wimp out when it comes to making a difference.

We have a right to complain about our government, but we also have the right and the means for changing our government.

It is my opinion that most people just want to complain, and again I understand, it is easier to Bitch, Bitch,Bitch, than it is to make a positive difference.

More than half of the County hated Lincoln for more than 50 years,after he was elected, but now most people think he didn't do such a bad job.

Your not giving Obama much of a chance if your want to complain before he even gets into office.

Imagine what it would be like if your employer thought that way about you when you were hired???

Call me naive, I have been and well be called worse, but I believe there is a better side to human nature, and as bad as you think our system of government and the politicans are, it's hard to find anything better, even no government as you propose would not be as good.