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$1 Trillion in Perspective

Reports have it that the U.S. federal government might spend $1 trillion bailing out financial services firms. That’s about $7,750 per U.S. family, or $2,500 per person.

That’s a net present value calculation – the amount of money you would have to put in an interest bearing account today to cover all future expenses. Running this through the WashingtonWatch.com calculator, I assumed payouts would occur over a period of ten years, which may push the estimate a little low.

There’s almost no way that the government can tax that out of us, and instead it will likely inflate the currency significantly to cover this commitment. Watch for a bigger collapse later if the government moves the country’s entire financial system further out on the limb to grab a hold of these imperiled financial services providers.

Oops. Too bad.

Visitor Comments for $1 Trillion in Perspective RSS 2.0

The Agitator » Blog Archive » $2,500 Per Person

[...] That’s how much this proposed bailout is going to cost. [...]

Ken’s Weblog » Blog Archive » Your bill

[...] That’s how much this proposed bailout is going to cost. [...]

Bad

What a negative nancy! As Kevin Drum points out: on the plus side, we, the taxpayers, now own a significant interest in Manchester United: our first national soccer team!

…unfortunately, their record stinks so far this season. We’d better build them a new stadium, so something.

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[...] far, this is the latest in the bailout that is costing each of us $2,500 per person.  First off, this has been a long time coming.  And while John McCain’s current stump [...]

Walt

Ok, $2,500 / person but if you take tax paying citizens, this jumps to around $10,000/person or $20,000 per househould

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