How Much Did That Cost?

cnbcwarfotomedic3b

CNBC has a terrific slideshow that compares the cost of the current financial “bailouts” against other high budget items in the past.    They estimate the cost to date of the present crisis at $3.4 trillion.   That’s the same cost, in today’s money, of the entire Second World War.

By comparison, the Vietnam War at $700 billion, the New Deal at $500 billion, the purchase from France of one-third of North America at $217 billion, and the Marshall Plan at $115 billion seem paltry.  The $25 billion the Big Three car makers want, could pay for 3 Panama Canals in today’s dollars.

Something doesn’t make sense here.  How can a credit crunch cost the same as the most expensive war the world has ever seen, a war that lasted years, killed scores of millions, and destroyed the economic infrastructure of fifty countries or more?

Where is all this money going?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: