Tuesday, June 23, 2009

Bailout perspective

From Barry Ritholtz's The Big Picture, comes this chart comparing the recent bailouts with other large projects, wars, etc. in our nation's history - relative sizes of expenditures are inflation adjusted (click on chart to biggify):

From his post:
[The chart] includes the total outlay for all the bailouts to date. In just about one short year (March 2008 - March 2009), the bailouts managed to spend far in excess of nearly every major one time expenditure of the USA, including WW1&2 (omitted from graphic), the moon shot, the New Deal, total NASA budgets (omitted from graphic), Iraq, Viet Nam and Korean wars — COMBINED.

206 years versus 12 months. Total cost: ~$15 trillion and counting . . .

This level of spending totally blows away anything else in human history. What are the chances we'll have a good result?

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