7 December 2008

Here's an amazing factoid

Barry Ritholtz, author of "Bailout Nation," claims that the bailout has cost more than Marshall Plan, Louisiana Purchase, moonshot, S&L bailout, Korean War, New Deal, the Iraq war, the Vietnam war, and NASA's lifetime budget combined. In fact, the bailout is said to be almost double (over 7.6 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 (Est)
  • Invasion of Iraq: Cost: $551 billion, Inflation Adjusted Cost: $597 billion (Note: This is actually a bit low once delayed costs are completely factored in.)
  • 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

Some debate this, saying that much of the money will be paid back. We'll see. I'm assuming that there's a reason why U.S. and foreign investors aren't rushing in to buy all of this bad debt.

2 comments:

Comrade Kevin said...

All paid back, huh?

Riiiight.

Karlo said...

After hearing numbers in the hundreds of billions and trillions discussed with such insouciance, I have a hard time taking these arguments over a billion or two or a mere hundred million seriously. I expect to hear at any minute that the government actually has a hundred trillion stuffed under its matress somewhere.