The Politico reports that the various bailouts could have a total cost of $23 trillion — over 50% higher than the annual GDP of the entire country:

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…$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

But you don’t understand: (a) all we have to do is tax the rich and everything will be hunky-dory; and (b) healthcare reform is all about saving money!

This entry was posted on Wednesday, July 22nd, 2009 at 9:10 am and is filed under business, Democrats, Republicans, War. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.