I have a little question. Do you think you understand how much a "Trillion" dollars.... is?
Now for another little question... do you think you comprehend how much 23 Trillion dollars.... is..... ?
politico
Bailouts could cost U.S. $23 trillion
POLITICO 44
A series of bailouts, bank rescues and other economic lifelines could end up costing the federal government as much as $23 trillion, the U.S. government’s watchdog over the effort says – a staggering amount that is nearly double the nation’s entire economic output for a year.
If the feds end up spending that amount, it could be more than the federal government has spent on any single effort in American history....
...In fact, $23 trillion is more than the total cost of all the wars the United States has ever fought, put together. World War II, for example, cost $4.1 trillion in 2008 dollars, according to the Congressional Research Service.
Even the Moon landings and the New Deal didn’t come close to $23 trillion: the Moon shot in 1969 cost an estimated $237 billion in current dollars, and the entire Depression-era Roosevelt relief program came in at $500 billion, according to Jim Bianco of Bianco Research.
The annual gross domestic product of the United States is just over $14 trillion.
Treasury spokesman Andrew Williams downplayed the total amount could ever reach Barofsky’s number.
“The $23.7 trillion estimate generally includes programs at the hypothetical maximum size envisioned when they were established,” Williams said. “It was never likely that all these programs would be ‘maxed out’ at the same time.”
Still, the eye-popping price tag provoked an immediate reaction on Capitol Hill. “The potential financial commitment the American taxpayers could be responsible for is of a size and scope that isn’t even imaginable,” said Rep. Darrell Issa (R-Calif.), the ranking member of the House Oversight Committee. “If you spent a million dollars a day going back to the birth of Christ, that wouldn’t even come close to just one trillion dollars – $23.7 trillion is a staggering figure.”
Congressional Democrats say they will call for Treasury to meet transparency requirements suggested by the inspector general, said a spokeswoman for the Oversight committee. “The American people need to know what’s going on with their money....”
According to my calculator... if we say that there are 300 million Americans, 300,000,000... then it would cost every American, babies and all, something like $76,000 dollars each to repay the debt... and that is not factoring in one cent for any interest on the debt...
So... for a family of four that would amount to something like $304 thousand dollars... provided there is no interest on the debt...
Sleep tight America, we are in good hands.
XtnYoda, shalomed
Now for another little question... do you think you comprehend how much 23 Trillion dollars.... is..... ?
politico
Bailouts could cost U.S. $23 trillion
POLITICO 44
A series of bailouts, bank rescues and other economic lifelines could end up costing the federal government as much as $23 trillion, the U.S. government’s watchdog over the effort says – a staggering amount that is nearly double the nation’s entire economic output for a year.
If the feds end up spending that amount, it could be more than the federal government has spent on any single effort in American history....
...In fact, $23 trillion is more than the total cost of all the wars the United States has ever fought, put together. World War II, for example, cost $4.1 trillion in 2008 dollars, according to the Congressional Research Service.
Even the Moon landings and the New Deal didn’t come close to $23 trillion: the Moon shot in 1969 cost an estimated $237 billion in current dollars, and the entire Depression-era Roosevelt relief program came in at $500 billion, according to Jim Bianco of Bianco Research.
The annual gross domestic product of the United States is just over $14 trillion.
Treasury spokesman Andrew Williams downplayed the total amount could ever reach Barofsky’s number.
“The $23.7 trillion estimate generally includes programs at the hypothetical maximum size envisioned when they were established,” Williams said. “It was never likely that all these programs would be ‘maxed out’ at the same time.”
Still, the eye-popping price tag provoked an immediate reaction on Capitol Hill. “The potential financial commitment the American taxpayers could be responsible for is of a size and scope that isn’t even imaginable,” said Rep. Darrell Issa (R-Calif.), the ranking member of the House Oversight Committee. “If you spent a million dollars a day going back to the birth of Christ, that wouldn’t even come close to just one trillion dollars – $23.7 trillion is a staggering figure.”
Congressional Democrats say they will call for Treasury to meet transparency requirements suggested by the inspector general, said a spokeswoman for the Oversight committee. “The American people need to know what’s going on with their money....”
According to my calculator... if we say that there are 300 million Americans, 300,000,000... then it would cost every American, babies and all, something like $76,000 dollars each to repay the debt... and that is not factoring in one cent for any interest on the debt...
So... for a family of four that would amount to something like $304 thousand dollars... provided there is no interest on the debt...
Sleep tight America, we are in good hands.
XtnYoda, shalomed
posted by XtnYoda at 6:38 PM
2 Comments:
Charlie, talk about being sold out. 23 trillion dollars that is probally a low figure. The Federal Reserve has taken that money from us "WE THE PEOPLE" and then loaned our own money back to us to fund our government and stimulas packages. Now that is what is criminal. Not only did we give it to them they loand it back to us at intrest. Now we pay intrest on both amounts. Something is worng with this picture. I am also seeing the implications of the 2005 change in the bankruptcy laws. Ouch if that is not an eye opener. Since the manufactured economic collaspe people cannot file for bankruptcy as easialy. The plan is coming in to full focus now, don't you think?
Seems to be getting clearer by the day.
I hadn't tied in the 05' bankruptcy change in laws. That would certainly be sinister if this specific economic event was being planned then...
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