Do we still get what we pay for? Price tag of the bailouts so far (maximum commitments): $8.5 trillion. Inflation-adjusted cost of the Marshall Plan, the Louisiana Purchase, the race to the moon, the S&L crisis, the Korean War, the New Deal, the invasion of Iraq, the Vietnam War and all of NASA's efforts, combined: $3.92 trillion. Who can possibly defend this insanity?
Comments
" Who can possibly defend this insanity?"
Nobody. It is simply "indefensible".
I would have voted NO!
On a side note, the US treasury rate is very low, good for US Taxpayers who will pay lower interest costs on borrowed money. Bad for Social Security and Medicare who's trust fund roll maturing US Treasury Notes over into new ones along with the small surplus cash flow from SS-OASI. At 5% the present value of the unfundeded liablity for SS-OASI was $19 Trillion. At less than 1%, can you even guess what the present value is? Ten times higher. It will be interesting to see my 2009 SS wage and Benefit statement. Will their Solvency date move from 2041 to 2035, maybe earlier?