T Nation

Bailout Biggest US Outlay Ever


#1

"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.
....
The only single American event in history that even comes close to matching the cost of the credit crisis is World War II: Original Cost: $288 billion, Inflation Adjusted Cost: $3.6 trillion

The $4.6165 trillion dollars committed so far is about a trillion dollars ($979 billion dollars) greater than the entire cost of World War II borne by the United States: $3.6 trillion, adjusted for inflation (original cost was $288 billion).

Go figure: WWII was a relative bargain."

Big Bailouts, Bigger Bucks

#2

$24.000.00 per man, woman and child in the USA. Fuck'n ouch!!


#3

If the numbers are true and you spend one trillion for "defense" each year, does that means that you spend as much on the military now, inflation adjusted, that you spent during WWII?


#4

Now add in the national healthcare plans in the works. And the 'tax cuts for 95% of American taxpayers'. LOL!!

Just to pay the interest on all this debt they're running up will give us a TRILLION dollar yearly deficit...which will require MORE unimaginable interest payments in themselves.

The future of the US dollar and the US economy is very dim indeed. All the libs who voted in this big government, with Roosevelt and LBJ and on and on, have reached the end of the line. Libs killed this country. It is dying. Now comes the military dictatorship. Good job, libs.

"But we did it out of compassion for the weak and helpless!!" LOL!!!!


#5

As usual, you see things in black and white terms that are flat wrong. Conservatives may not have created the welfare state, but they did little to stop it. Government spending GREW under Reagan, grew under Nixon, exploded under Bush. None of these presidents, or Republican Congressmen, challenged the size of the state in a fundamental way. Defense spending has also been a not-insignificant contributor to this coming catastrophe.

And most Republicans, including, I assume, the guy you voted for for president, fell in line behind the TARP. We are all socialists now.


#6

By force not at heart,

I see nothing wrong with a military dictatorship,

at least there is no misconception of freedom.

it is everyone's fault, now it is everyone's problem


#7

Didn't someone smart say something to the effect of "there is no person more imprisoned than one who falsely believes to be free"


#8

Waxman was just voted in as Chairman of commerce and energy replacing Dingal, a moderate.

Now add in the cost of reacting to the global warming fallacy on top of the mortgage and real estate panics created by the Democrats.


#9

The Progressives and then Roosevelt set up the system. They made a whole lot of people dependent on government. Expecting ANY president to stop that freight train is simply not rational. Look what happened to Bush when he tried to tweak, just tweak, the Social Security system. OMG, the Dems went nuts, telling the cattle that 'Bush wants you to eat cat food!' or 'Bush wants to take away all your medicines!'. Remember what many black conspiracists thought about Katrina: 'Bush wants you to die! He made those levees weak on purpose!'

Nope, we have to have an utter and complete collapse before a new society can be born, hopefully one that'll listen to Ayn Rand and similar, and not Barney Frank and that scum Al Franken.


#10

If we didn't get a military dictatorship under Bush, we're not going to get one under Obama, you moron. I'm constantly amazed at the Republican ability to sweep last 8 years under the rug and complain (seemingly in earnest) about the liberals ruining the country. What liberals, where?

Also, if you don't think our massive unnecesary military spending has a lot to do with our current condition, well...you're just wrong.


#11

Most of the outlays so far in this crisis have been in the form of loans or loan guarantees rather than actual spending. We weren't loaning the Japanese the bombs we were dropping on them in WWII, so the comparison of cash on the table isn't really apples to apples.


#12

That wasn't my interpretation of the change of leadership. I saw it as a blow against Michigan's delegation for their unswerving support of the auto industry in Detroit. On top of that, Waxman has made a name for himself by fighting corruption, much like Truman did when he went after the 'war profiteers' of WWII.

Getting rid of Dingle makes it harder to Detroit get get as much out of the bail-out.


#13

Good luck with that. I don't see much chance that the USA is going to listen to a dedicated atheist for moral direction. Isn't choosing ethical guidelines by rationality alone the same as ethical relativism? If there is no absolute moral authority, then you have to determine moral law by reason.

Surely you are not so optimistic as to believe that everyone will come to the same conclusions about moral issues if they 'just think about it rationally'.


#14

No one swept anything under the rug only stated the truth, It is everyone's fault. Except mabye those who actually tried to oppose it, there is only so much you can do.

Yes I know especially while our ow borders were constantly being breahced.