posted by Kaimipono D. Wenger
Via Boing Boing, this helpful primer. How does one conceptualize what $4.6 trillion (the current aggregate bailout cost) looks like?
It is more than the inflation-adjusted* costs of the Marshall Plan, Louisiana Purchase, moonshot, S&L bailout, Korean War, New Deal, Iraq war, Vietnam war, and NASA’s lifetime budget . . . combined!
That’s a pretty hefty chunk of change.
*The inflation adjustment uses the CPI. Yes, there are problems with applying the CPI to something like the Louisiana Purchase. Still, that’s a ton of money.