List Of Government Expenditures That Cost Less Than Credit Crisis Bailout

Whenever I discussed the current bailout situation with people, I find they have a hard time comprehending the actual numbers involved. That became a problem while doing the research for the Bailout Nation book. I needed some way to put this 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.

Read the whole story here.

Comments

[totaldisbelief]

I'm in favor of the new " Trickle Up " theory ....Give every U.S.taxpayer $100,000 dollars and let them spend it how they want to.
Most people will pay off debt....then their money is back to the banks....
Some people will by homes.... then their money is back to the banks...
Others will pay off student loans ...then that money can be reloaned to new students...
Some people will by new cars and buy stuff...and the money goes into banks and the retail sector...
The money would "trickle up" to the financial sector after making the lives of every taxpayer a bit better.

[SeanOcali]

For $4 trillion, you could put up enough wind turbines to provide all energy needs for this country. The economic jump start form the jobs it would create would be beyond measure. Not the mention the long term economic and environmental benefit of producing all our energy from a renewable source.

Most people don't realize that propane, jet fuel, diesel, and even gasoline can all be produced synthetically. With virtually unlimited electric power available for cheap, synthetic fuel can become an economical reality. And with a vast supply of cheap energy comes the means to create even more cheap energy for the future. For example, hydrogen and solar panels require a lot of energy to create. This $4 trillion subsidy would be the gift that keeps on giving. A true revolution. Our economy would grow so fast we might actually be able to pay back the Chinese this century.

[research]

YES!

The GOP is trying to bankrupt the US government to

STOP public works investment and social services.

The conservatives

ARE TRYING TO FORCE A DEPRESSION!

[smurfshoe]

Doesn't anybody wonder what the master plan is? These things don't just happen by accident? How much longer with all these bailouts (for the very few people who caused this mess) until the entire American government is bankrupt? There's a plan, Really how does gas go from 4.00 to 2.50 overnight for no reason? it's speculation and manipulation, same with the economy. In some ways we get what it deserve for letting Bush steal two elections and alowing the war president go on his rampage. Now ithe rampage is our economy, and the whole of America well fall like Bagdad. Bush is dumb, and we are dumber.

[MakeAWish]

The US Congress, is a disgrace. You make me ashamed for my country. All of you should be tried on treason. Your derelict of duty is criminal and a disgrace. Under your watch, you have sat and done nothing, or participated in the financial downfall of our country.

Your names and what you have done to our country should be put into stone, so that the generations to come, will know who you are and what you have done. This country will take generations, if ever to recover.

[Charlie769]

I understand your sentiment. But I think the author of this blog misses one thing... inflation adjustment is one of the poorest ways to judge relative value.... it always understates te net present value. To get a more accurate picture you may want to do some of your own math .... see http://www.measuringworth.com/uscompare/ to find relative dollar values by year...

[leeman79]

Double the taxation amount for everyone who voted for this disaster.

[SCG]

People should be in the streets.

[sposton]

All of this because of sub-prime mortgages! Boy, do they know how to deflect. Nobody is at fault and the same people are in charge. Congress does not want to investigate. Are we ever going to have the equivalent of Pecora Commission?

Regardless of party in control, our Congress has devolved into an utterly useless body. Without effective checks and balances we have tyranny - disaster capitalism tyranny.

[Sundialsvc4]

"Yes, it is, Barry ... but then again, it isn't."

You see: we don't actually have $4,616,500,000,000.00.

But we think that we have the ability to conjure up "that much cash" from thin-air. And, with "all that money," we can "bail out" of any situation.

This fabrication is not only "the root of our problem," but also "a magnifying glass" ... a distortion field that makes the situation seem much worse than it actually is.

Let's drill-down to the actual root of our evil: aside from blatant "high crime," we also have problems like "usury," a "swindle" that would make Mr. Ponzi blush, and "the endless war" that all of this financial shenanigan was used to pay for.

Let's look at our assets: we are still a nation of 300 million people who not only want to live, but to "live well." There are a few thousand sociopathic criminals in our midst, but that sure looks like "a tiny fraction of one-percent" to me...

So, instead of conjuring up "money from nowhere" in an attempt to "fix" problems that "money from nowhere" brought in the first place, let's buy some orange jumpsuits.

[joebaggadonuts]

Why don't we instead give them used orange jump-suits from some drug user inmates and let them out of prison instead?

[Bluedanube]

In the grand scheme of things the bailout is nothing more than an attempt to save a broken and dysfunctional system and ultimately the lives of the plutocracy who would be in jeopardy should the house cards come tumbling down.

[bubbuh]

Bailout Bread For All...with a nice oil dippin' sauce.

[PhilipTaylor]

The Republican Government under Bush has, according to Bloomberg, "Pledged $7.7 Trillion to Ease Frozen Credit" and today added $800 Billion MORE!

Republican CRISIS EFFORTS = $8.5 Trillion

So that means Obama can use up to $8.5 Trillion without "ONE WORD OF CRITICISM" FROM THE REPUBLICANS!

The Trigger is $8.5 Trillion!

As long as Obama stays under the Trigger Republicans should be VERY QUIET! Shhhh! Shhhh!

[Indedave]

Using my family as an example, if the Treasury just mailed us a check for $96,000, we could pay all our debts except the mortgage, then make 5 years of payments on it without earning a dime of interest needed. Multiply this effect by 100 million households and the banks would be flush again. All we have to do is outlaw derivatives trades for commercial banks and tighten the lending standards back to where they should be. In the meantime, the banks can write down their bad loans in proportion to their growing reserves, we all will have more cash to spend to kill the deflation monster and create more jobs.

[957]

Yes Yes Yes now why has not this plan been discussed by the "boys"? american write/call/e-mail your senator and demand this happen.

[1st2vote]

I,m sure the Gov. wants 2 class of people Rich & Poor/Master & Slave. Thats why I think the auto makers didn't get a bail-out the other day most of their worker are the middle class. I think the Gov has cerated this crisis on purpose. They keep printing money like its going out of style with nothing to back it up. I agree with you if you wanted to kill the deflation monster and create more jobs they should give the money to the American people and we spend it and it trickles up.

[Aurin]

America, Dont pay your mortgage!! Dont' pay your credit card bills!! Whats the point of trying to be fiscally responsible and have good credit when the government doesn't hold the same standards to the institutions. Just go bankrupt. Just like out banks. Who cares anymore?!?!? Its a free for all. Spend all you want and don't pay it back!!

There is no more hope. We have no future. Our lives are over. We are forever enslaved.

[AmandaBC]

"Just go bankrupt."

With the new Bush bankruptcy law (very first item of his presidency, the CC companies had showered him with money...), you will no longer get away scot-free... Good thing I live in a country where bankruptcies are still protected... (similar law to what the US had before Bush.)

[joebaggadonuts]

Our FICO scores are the bars of our prison, man.