Big Bailouts, Bigger Bucks
I found that whenever I discussed the current bailout situation, people had a hard time comprehending the actual numbers involved. In doing the research for the Bailout Nation book, that was a problem. I needed a 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.
Jim Bianco of Bianco Research crunched the inflation adjusted numbers. The bailout has cost more than all of these big budget government expenditures – combined:
Tuesday, November 25, 2008 | 10:14 AM | Permalink
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