WTF - EEK!

About: big bailouts, bigger bucks | the big picture

Bailout costs more than marshall plan, louisiana purchase, moonshot, s&l bailout, korean war, new deal, iraq war, vietnam war, and nasa's lifetime budget -- *combined*!   - (boing boing)
source: ...

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


...... related to the book by Barry Ritholtz Bailout Nation - his blog is here.

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  1. bailout

Comments

Mark de LA says
& here is a clue for who will get the bailouts: (both parties did it see 11033)
WND: ...

Key industry actors in the current financial crisis gave $14 million to conventions, CFI reports. The following are some of its findings:

  • Freddie Mac gave $500,000, half to each committee.
  • Ford Motor Company donated $200,000 for the conventions, half to each host committee (Also, Kirk Kerkorian, Ford’s largest shareholder with ties to GM and Chrysler, gave $3.5 million).
  • General Motors provided 735 new cars to the Democratic and Republican Party convention committees for elected officials' use.
  • American International Group, or AIG, gave $1.5 million split evenly between the two committees
  • Hedge funds and their managers gave $3.9 million – $2.7 million to Republicans and $1.2 million to Democrats.
  • Investment companies including Goldman Sachs, Morgan Stanley, J.P. Morgan Chase, UBS and Lehman Brothers, gave $1.5 million.
  • Other financial institutions that have received or are eligible for bailouts, such as Citigroup, U.S. Bancorps, Wells Fargo, Cobank and Bank of America, donated $2.9 million – much of it was given to the Republican committee.

... &
ibid: ... Krumholz said, "By taking advantage of the false distinction between a political party and the committee hosting the party's convention, unions were able to support the Democratic Party in a way that hasn't been allowed since the days of soft money, when labor was among the biggest givers."
...


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