| Author | Message | ||
     Ft_bstrd |
"The total value of the bailouts undertaken by the federal government in 2008 now exceeds the combined cost of every major war the United States has ever engaged in, according to a comparison of war costs calculated by the Congressional Research Service (CRS) and the value of the bailouts as calculated by Bloomberg News or Bianco Research. According to CRS, all major U.S. wars (including such events as the American Revolution, the War of 1812, the Civil War, the Spanish American War, World War I, World War II, Korea, Vietnam, Iraq and Afghanistan, but not the invasion of Panama or the Kosovo War), cost a total of $7.2 trillion in inflation-adjusted 2008 dollars. According to Bloomberg, the federal government has made commitments worth a total of $8.5 trillion in the bailouts of 2008. That includes actual expenditures as well as loan and asset guarantees. Bianco Research puts the total value of the bailouts at $8.7 trillion." Another comparison: "Whenever I discussed the current bailout situation with people, I find they have a hard time comprehending the actual numbers involved. That became a problem while doing the research for the Bailout Nation book. I needed some 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 lets 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: Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est) Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion TOTAL: $3.92 trillion" We are really and truly screwed guys. | ||
| Xl1200r |
How many zeros in a billion? This is too true to be funny. The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of it's releases. A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age. D. A billion days ago no-one walked on the earth on two feet. E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it. While this thought is still fresh in our brain... let's take a look at New Orleans ... It's amazing what you can learn with some simple division. Louisiana Senator, Mary Landrieu (D) is presently asking Congress for 250 BILLION DOLLARS to rebuild New Orleans . Interesting number.. what does it mean? A. Well... if you are one of the 484,674 residents of New Orleans (every man, woman, and child) you each get $516,528. B. Or.... if you have one of the 188,251 homes in New Orleans , your home gets $1,329,787. C. Or.... if you are a family of four... your family gets $2,066,012. Washington, D. C <hello!> Are all your calculators broken?? Accounts Receivable Tax Building Permit Tax CDL License Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal Income Tax <br>Federal Unemployment Tax (FUTA) Fishing License Tax Food License Tax Fuel Permit Tax Gasoline Tax Hunting Licen se Tax Inheritance Tax Inventory Tax IRS Interest Charges (tax on top of tax) IRS Penalties (tax on top of tax) Liquor Tax Luxury Tax Marriage License Tax Medicare Tax Property Tax Real Estate Tax Service charge taxes Social Security Tax Road Usage Tax (Truckers) Sales Taxes Recreational Vehicle Tax School Tax State Income Tax State Unemployment Tax (SUTA) Telephone Federal Excise Tax Telephone Federal Universal Service Fee Tax Telephone Federal, State and Local Surcharge Tax Telephone Minimum Usage Surcharge Tax Telephone Recurring and Non-recurring Charges Tax Telephone State and Local Tax Telephone Usage Charge Tax Utility Tax Vehicle License Registration Tax Vehicle Sales Tax Watercraft Registration Tax Well Permit Tax Workers Compensation Tax STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago... and our nation was the most prosperous in the world. We had absolutely no national debt... We had the largest middle class in the world... and Mom stayed home to raise the kids . What happened? | ||
| Ft_bstrd |
Actually, there are 31,556,926 seconds in a year. If you converted dollars to seconds, it would be 273866 B.C. | ||
| Mr_grumpy |
Mr President, the Secret service have uncovered a south american plot & killed 2 Brazilian terrorists. Well, hey, that's wonderful. Remind me again, How many's a brazillion?  | ||
| Ducxl |
What happened? Our neverending quest for cheaper goods and services led us here.We learned to PREY upon lesser countries.I believe these things.Nothing is free in life,we just THINK we're getting a deal from CHINA. Did i mention i HATE China and what they've been all too willing to do to us with their cheap goods.With their cheap goods we've developed THEIR economy. The cost of war in Iraq? Simply,too much. As uber Capitalists what've WE gotten monetarily out of Iraq? | ||
| Chellem |
As uber Capitalists what've WE gotten monetarily out of Iraq? As uber Capitalists, WHY are we spending that much money bailing out companies that could not run themselves successfully? Companies that are going out of business today, this minute, may have been viable if the economy was still decent. But the bailout companies, they just, well, suck. When I suck, I lose money. When big businesses suck, we give them billions of dollars. I know it's simplistic, but, well, too freakin' bad. Can we just skip the middleman and give the money directly to the people? It'd still be cheaper than giving it to the companies to spend on jets and things. So tired of talking about this. Let's see the REAL change. It's almost time... ->ChelleM | ||
| Ft_bstrd |
I support American Workers. I do not support bad corporate management. I do not support short sighted business practices. I do not support self serving unions who add nothing to the end product but cost. I buy cars manufactured in KY, OH, MS, TN, and TX they just don't have the bad business practices of GM, Ford, and Chrysler or the UAW attached to them. Give me ONE good reason I should buy GM, Ford, or Chrysler instead of Toyota, Honda, or Nissan. Why not give the American consumer a tax break that allows them to buy more goods and make the choices about where and how they will spend their money. If American companies can't make competitive quality products, they should go out of business. This bailout is a shell game, goatscrew fiasco of the highest order. Our federal government is printing money, devaluing the currency, and creating runaway inflation. Prepare for Stagflation and the return of the "misery index". | ||
| Oldog |
So tired of talking about this. Let's see the REAL change. yes Ma'am I want to see the change too I'm afraid its likely a day late and a Dollar short. } | ||
| Cyclonedon |
I would rather have our tax dollars bailing out American companies than going to fight foreign wars where the people there actually hate us! We have nothing to gain in Iraq! | ||
| Cityxslicker |
Iraq, present tense, verb, to be involved in a war halfway around the world for oil interests and veiled economic security. Iran, future tense, verb, to be involved in a war halfway around the world for oil interests and veiled economic security. Saudi Arabia, archaic, nobody believes war or terrorism exists there anymore  | ||
| Blake |
"I would rather have our tax dollars bailing out American companies than going to fight foreign wars where the people there actually hate us! We have nothing to gain in Iraq!" I guess if national security is unimportant, and if we shouldn't fight our enemies on their turf because they hate us, I'd agree. But to me national security isn't nothing and I'm all for taking the fight to our enemies on their own turf, or that which they most desire; that'd be Iraq. Maybe you missed the official declaration by al qaeda that they were looking forward to re-estabilishing their taliban type haven in Iraq and spreading out from there? What a waste to take the fight to them there?  If Iraq transitions into a stable nation with a peace loving democratically based form of government, we have gained a huge victory against al qaeda. You remember al qaeda, the terrorists who destroyed lower manhattan on 9/11/01?  | ||
| Ft_bstrd |
Google: WTC7 It was an inside job, Blake. | ||
| Blake |
Not even funny! I'm not sure if I could restrain myself if I ever met one of those "believers" in person. | ||
| P_squared |
Easy to spot in a crowd. Just look for the aluminum foil hats. Nothing you say to them will convince them what they believe is wrong. Nothing you do to them will convince them what they believe is wrong. It's best to just shake your head in disgust and walk away. As for the "Don't want to pay for the war in Iraq" crowd, have you REALLY thought through all the possible outcomes if you suddenly shut off the money as you desire? Doesn't matter if you agreed or not with why we originally went there, right or wrong. What matters now is how the job does, or doesn't, get finished. We blew the chance with Afghanistan years ago when the USSR was pushed out. It came back & bit us in the @$$ pretty hard. I'd rather my children don't get bitten the same way. Time 2 ride home now. | ||
| Xl1200r |
I think the original post was more about how the Iraq war looks like a bargain compared to all the recent bailouts. Anything with government is tough, especially this war business. I think there's probably a lot that we mere citizens don't know about. | ||
| Chellem |
I think there's probably a lot that we mere citizens don't know about. I suspect there was a lot that Obama didn't entirely know about either, considering the little bit of backtracking he's done since he's been brought into the loop. I'm sure nothing is as simple as it seems on these boards. But complex or not, someone needs to cut spending up there. Time to start plannin' the revolution... ->ChelleM | ||
| Just_ziptab |
"Time to start plannin' the revolution... " I'm in and will help where I can. | ||
| Nevrenuf |
right now, the only thing us mere mortals can do besides a revolution, is to make sure no present politician is allowed back into that same position. and yes, there is already websites set up to try and make sure no incumbent gets back into office. http://no-incumbents.org | ||
| Ft_bstrd |
Time to start plannin' the revolution... I'll bring the chips and queso! Actually, I'm 40 miles from the Barrett Rifle company. I really like the hills. I hear that I can hit things from at least a mile away with a Barrett. | ||
| 2008xb12scg |
Time to start plannin' the revolution Locked and loaded, awaiting orders, ma'am. | ||
| Iamike |
We were on the road to oil contracts with Irag until a couple of our moron democrat congressmen went over there. They dictated that for Irag to sell us their oil they need to follow our over restrictive enviornmental rules. Iraq then sold their oil to countries that aren't quite so concerned with Iraq's enviornment. But then you hear "It's all Bush's fault" | ||
| Cityxslicker |
"Time to start plannin' the revolution " Welcome to the party gang, I still have the stock piles from Y2K.... I bought the stuff in February 2000, it was DIRT cheap. The locals all seemed pi$$ed when the world didnt end. Centuries ago, we would have already been rioting in the streets. | ||
| Ft_bstrd |
I wonder when the masses who receive this "economic stimulus" money are going to realize they were given a handful of this:  | ||
| Caddypat |
in my opinion iraq was and is necessary.this bailout bullship is just that.we have been had by barny fife, nancy baby and the rest of the lets spend or steal all we can while we can gang. now they want to double the fuel tax to help pay for highway repair.bullsh-t.they already stole that money from the fund once. i think its time to start filling potholes with politicians.we certainly need to see to it that they lose their jobs. pat | ||
| Mcgiver |
I may be ignorant,and simplistic, but if we had been buying american (not american made Japanese) cars we would not have to bail them out. When we buy any imported item, dont the profits go overseas? Brian | ||
| Cityxslicker |
money has always only been paper, the currency isnt backed by silver or gold for almost two generations. The only reason it is worth what it is, is because we all agree that it is worth the 100 cents to make it up. Of course you cant hardly buy a candy bar for one of them... No wonder you need billions of dollars of buyout, they aint worth the stock they are printed on. I wonder what an old Confederate note is worth ?.... | ||
| Slaughter |
Centuries ago, we would have already been rioting in the streets. We were... Whiskey Rebellion... Post-Civil-War inflationary riots (South)... Douglas McArthur's suppression of the WWI Veteran's "Bonus Army" Just 3 that come to mind Go for it. | ||
| Ft_bstrd |
I may be ignorant,and simplistic, but if we had been buying american (not american made Japanese) cars we would not have to bail them out. When we buy any imported item, dont the profits go overseas? Brian That might work and might have kept them from being in the position they are in, but unfortunately, they don't produce vehicles many want to buy. Until recently, I wouldnt' have been interested in ANY of the Big 3's products. Now, I believe GM has several great offerings. It's a little too late, though. When Honda was producing this (in Ohio):  And Toyota was producing this (in Kentucky):  Chevrolet was producing this (in Oshawa, Ontario):  | ||
| Mcgiver |
I drive a 30 year old Ford truck(japanese trucks don't seem to last that long), and the wife drives a Chrysler 300, nice car and great powerband.I quit buying Japanese vehicles when I was 20, and ill never go back. Brian | ||
| Ft_bstrd |
How many miles does your 30 year old truck have on it? |
