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Wall Street Bailout Exceeds Cost of All US Wars Combined: And you can throw in the New Deal, Marshal

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posted on Feb, 1 2009 @ 02:58 PM
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This is just outrageous!

Wall Street Bailout Exceeds Cost of All US Wars Combined


Casey Research, of Vermont, has analyzed the costs of the government bailouts of the housing crisis, the credit crisis and others and has concluded that the total is $8.5 trillion, which is more than the cost of all US wars, the Louisiana Purchase, the New Deal, the Marshall Plan and the NASA Space Program combined.

According to CRS, the Congressional Research Service, all major US 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, the invasion of Panama, the Kosovo War and numerous other small conflicts), cost a total of $7.5 trillion in inflation-adjusted 2008 dollars.



This is just mind boggling to me!

When was the first bailout given out, last September or October, and now they are saying that the US government has already paid out(or is ready to pay out), $8.5 trillion!

Already!

It's just hard to comprehend that the bailouts are going to cost more than all the things above (listed in the article/quote).




posted on Feb, 1 2009 @ 03:19 PM
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Probably should have abandoned this economy and started over.this thing's still going to come tumbling down, all we've down is toss life preservers to the people who are most responsible for this mess.



posted on Feb, 1 2009 @ 03:26 PM
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Here's a chart from the St. Louis Fed research page that illustrates the ridiculous government spending level we have experienced in Year 2000 dollars:





I don't think this need explanation.

[edit on 1-2-2009 by projectvxn]

[edit on 1-2-2009 by projectvxn]



posted on Feb, 1 2009 @ 03:29 PM
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eh sorry to bust your bubble here but WW2 cost 5 trillion adjusted dollars all on it own, so that kind of blows that theory out of the water.

www.sfgate.com.../c/a/2008/03/17/MNBVVL9GK.DTL



[edit on 1-2-2009 by Europe]



posted on Feb, 1 2009 @ 03:31 PM
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reply to post by Europe
 



We're talking in the Trillions here. Not a measly 5 billion. Please re-read the article and review the chart I posted.



posted on Feb, 1 2009 @ 03:33 PM
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Originally posted by projectvxn
reply to post by Europe
 



We're talking in the Trillions here. Not a measly 5 billion. Please re-read the article and review the chart I posted.

My apologies the article says trillion not billion, it was a typo on my part which i shall now fix.



posted on Feb, 1 2009 @ 03:43 PM
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It's cool. It's a common mistake. The sharp crest in the chart is the entirety of WW2 spending. And we actually spent more money in Iraq than we did in all WW2 theatres combined. Now that is just ridiculous. Spending is out of control, and Obama's plan will likely make my chart look very different in the very near future after it gets passed into law.

We don't need to be spending more money we need to be spending less. We need to pull back the empire and quit antagonizing the rest of the world.

I like what Dr. Ron Paul said about paying to invade Iraq, bombing the bridges and roads and then paying to fix it...It's a vicious cycle if it is allowed to continue. This has got to stop NOW, before we fall over the precipice of debt slavery(If we're not there already).

[edit on 1-2-2009 by projectvxn]



posted on Feb, 1 2009 @ 04:14 PM
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the PTB, in this case the Goldman Sachs & NY Federal Reserve honchos
put into national positions (The Fed & the Treasury)
are busy putting the blame on a false instigator... (with the financial crisis
the sub-prime mortgages are the culprit)

in the case of the Twin Towers collapses, another false instigator is alluded to (the clandestine planting of demolition charges as the cause)


in both cases, the misdirection & lies are apparent... but! what can we do?
answer; very little but be annoying gnats in the faces of the elite



posted on Feb, 1 2009 @ 04:18 PM
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reply to post by Europe
 


Well, according to this website,

Military Costs of Major U.S. Wars

After the adjustment for inflation, the total price for ALL the wars we have fought, according to my, not very refined mathematical skills, is around $6.4 trillion in today's money. (that's including WWII @ 4.114 trillion)

I'm not going to check on the Louisiana Purchase or the rest of what the article lists, seems to me it's pretty accurate, or at least close enough.

[edit on 2/1/2009 by Keyhole]



posted on Feb, 1 2009 @ 04:39 PM
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What this tells me is that the American people have been robbed blind by TPTB over and over again. This major increase in government spending totals over half of 2007's GDP and about 60% of 2008. It has been a wild ride and this country's future spending programs will likely increase those numbers by quite a bit.

It is likely that more bailouts are coming. With most of our banks being insolvent due to their leverage issues this is almost a guarantee. I estimate that by this time next year the government will have spent the equivalent of all of 2007 GDP. Roughly 15 trillion dollars. That is IF we don't fall victim to rampant inflation.

This is a clear cut reason why political ideology should NEVER dictate economics. Economics is a fact based concept and should never be subjected to the whims of politicians. EVER.

[edit on 1-2-2009 by projectvxn]



posted on Feb, 1 2009 @ 07:18 PM
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The Ponzi Scheme that is Reaganomics finally killed our economy. Some legacy. Giving money to the rich and expecting it to 'trickle down' is a giant rationalization for tax cuts for people who pay the Republicans election bills. We've all been had...royally.



posted on Feb, 1 2009 @ 07:26 PM
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reply to post by hawkeye1717
 


The Ponzi scheme that is "Social Security" will kill off what is left. We are all headed for a downfall. The more information that comes out, the harder it is to deny.

The fact that you pin the whole thing on a "name" is part of the problem. Both parties helped get us here. Not just one. You can give a million examples but it won't change a thing. There will always be someone out their refuting your claims.

As far as i'm concerned, they both have been a complete disgrace to the people of this country. They do not serve for the freedoms of the individual, they only push "what they think" everyone's freedom's should be. They "decide" how much of your money they should take, even without your approval.



posted on Feb, 1 2009 @ 08:27 PM
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Keyhole, this is not what I wanted to know


Blind faith in irrational economic dogma ("unfettered capitalism", "let the markets regulate themselves") and irrational ideological dogma ("make government so small that it can drown in a bathtub" rather than make government handle 21st century problems effectively, privatize govt functions [more like piratize!]) have done more damage to the economy than blind faith in irrational, fundamentalist religious dogma on 9-11.

Americans watched the looting of Baghdad, unaware that the stage was being set for the looting of their own country. Besides the money lost, the number of Americans who have lost their lives just due to lack of food/drug inspectors, for example, should be grounds for manslaughter. Guantanamo would not be big enough to hold all those responsible for this undeclared war on the American middle class.



posted on Feb, 1 2009 @ 08:45 PM
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David is right. BOTH parties are to blame. Furthermore, the treasonous bailout bill was supported by more Democrats than Republicans,to set the story straight, but again, both parties are to blame. 80% of the American people were against the bailout bill, including MOST ATS members that took action to try to stop the bill. The politicians ignored the American people, and now we are suffering.

AND NOW we are supposed to believe them about this stimulus bill.

This stimulus bill will be the FINAL DEATH BLOW to our economy. Recovery after this treasonous bill 2 will be virtually impossible.

MARK MY WORDS.

Get ready for the worst, because it is coming.



posted on Feb, 1 2009 @ 09:22 PM
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reply to post by ProfEmeritus
 




This stimulus bill will be the FINAL DEATH BLOW to our economy. Recovery after this treasonous bill 2 will be virtually impossible


Yeah, and if that one doesn't do us in...the next bank bailout will. Yep folks, there is ANOTHER one in the works. They will pump even more money into the system.

New Bank Bailout Could Cost $2 Trillion



WASHINGTON -- Government officials seeking to revamp the U.S. financial bailout have discussed spending another $1 trillion to $2 trillion to help restore banks to health, according to people familiar with the matter. President Barack Obama's new administration is wrestling with how to stem the continuing loss of confidence in the financial system, as it divides up the remaining $350 billion from the $700 billion Troubled Asset Relief Program launched last fall. The potential size of rescue efforts being discussed suggests the administration may need to ask Congress for more funds. Some of the remaining $350 billion of TARP funds has already been earmarked for other efforts, including aid to auto makers and to homeowners facing foreclosure.

online.wsj.com...

People need to stop this partisan garbage. Both parties are emptying our wallets. Their agendas may be different but the results are the same.



posted on Feb, 1 2009 @ 09:27 PM
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Hey, guess what, it's the people bailing them out not the government and you'll still owe them money and if you don't pay it, you won't have a home.

lol



Oh and on top of this they'll be getting your stimulus check too, since most people will be using it to pay off their debt.

lol banks got America on lock.

[edit on 1-2-2009 by Shawn B.]



posted on Feb, 1 2009 @ 09:39 PM
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Huge in dollar terms but in relative terms as a % of the GDP we still have a long way to go (right now we are up around 20% of GDP and should easily exceed the 23% under Reagan in 1983 but it reached 43% under FDR).



posted on Feb, 1 2009 @ 09:41 PM
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wow that is stunningly sexy



posted on Feb, 1 2009 @ 09:56 PM
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reply to post by Shawn B.
 





Oh and on top of this they'll be getting your stimulus check too, since most people will be using it to pay off their debt.


Also,as I stated on another thread, lost in that "stimulus check", which is actually a tax credit, is the fact that this "tax cut" is bringing the US closer to the day when the Social Security System, already at death's doorstep, goes belly-up.
The "tax cut" is in reality, an elimination of the social security tax up to $8,100 in income, for each qualified worker, for two years. Social Security will soon start paying out more than it takes in, and this ill-conceived item in the "stimulus bill" will hasten that day.

People are not being made aware of the fact that these stimulus tax credits are being taken from the Social Security Fund, which is in dire straights already.
Personally, I fully believe that this is planned. They know social security is on death's doorstep, and they are plunging the stake into the heart of the fund.

BTW, seniors, whom Obama promised to help, are EXCLUDED from the tax credits, if they are retired, EVEN THOUGH they pay income tax on retirement checks from previous employers.

Until recently, I believed that there was still a possibility to recover from this extremely serious situation, but I now believe that the entire US financial system will collapse beyond repair. I pray that I am wrong, but things look very bad right now.



posted on Feb, 1 2009 @ 11:01 PM
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I think the Biggest mistake our government has EVER made was giving big companies/corporations, the same rights as individual US citizens/taxpayers!

American Citizen, or U.S. citizen?


There appears to be general misunderstanding by people in general as to the difference between a natural person and an artificial person. This document will explain that difference.
******SKIP******
A municipal corporation is an artificial person, as shown above, and consists of the general inhabitants called citizens, and these artificial persons (citizens) were created by the legislature, not by God. A corporation can be a citizen itself,



This website the quotes above are, I believe, condoning that corporations SHOULD have the same rights as individual taxpaying citizens in our country!

That is the way our government sees corporations, as, more or less, individual taxpayers who have rights just like a regular US citizen!

If our government didn't say that corporations have the same rights as individual taxpayers, then they WOULDN"T BE ABLE TO LOBBY OUR REPRESENTATIVES IN WASHINGTON!!!!!

This in my thinking, is the biggest flaw, biggest problem, and what caused our country the most problems that got us into the predicament that we have found ourselves in today!

Think about it!

If our elected officials could only be lobbied by actual US citizens who just wanted what was best for our country, and not for their "corporation" or business, a lot of the crap that got us here today wouldn't have happened!

All the oversight on loans and energy trading would have been in place still, it was companies that had an interest in these areas that lobbied OUR REPRESENTATIVES IN DC that got these laws changed and caused all this!

Corporations shouldn't have the same rights as US citizens!

[edit on 2/1/2009 by Keyhole]



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