Terrific visualization from Information is Beautiful showing a treemap of different government spending that helps contextualize what $1B large is.
Please note how the size of the Bailouts overwhelm everything else — Defense, education, wars, entitlements, etc:
>
Spreadsheet here
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
read more »
Tweet
Facebook
Reddit
Digg this!
July 27th, 2010 at 9:34 am
i thought we passed the Dirksen axiom years ago.
July 27th, 2010 at 9:38 am
Hmmmm… the Iraq-Afghanistan wars cost $49,000 for every man, woman and child in those countries?
I know the war is really a US stimulus measure, but a direct grant to people in those countries certainly would have been appreciated.
July 27th, 2010 at 9:46 am
Also, please note that the $11 trillion bailout figure is complete and utter baloney.
I followed the links from the graphic back to their source on that number, and here is what it says:
“Although much of the total may never be called on, the potential outlay still dwarfs any previous repair bill for the global economy.”
IE, it’s a made up number designed to elicit an outraged response from gullible bloggers.
July 27th, 2010 at 9:52 am
I don’t the Billion square – is it a pixel?
July 27th, 2010 at 10:31 am
The Everett McKinley Dirksen axiom, for those who are unfamiliar:
“A billion here, a billion there, pretty soon, you’re talking real money”.
July 27th, 2010 at 11:18 am
As always:
1) Social programs funded with long term debt are recorded as this years cost only.
2) The war in Iraq is recorded as nine years cumulative costs plus estimated future interest on debt assuming 100% debt funding.
The method works against the point the author wishes to make, but political brain rot is incurable.
July 27th, 2010 at 11:26 am
Funny also how Medicade and Medicare are positioned as far as possible from Department of Defense with non US government items in the gap between.
The DoD is placed in position for handy comparison to the estimated cost of lifting 10 percent of the world population out of extreme poverty.
The graphic communicates much more about its source other than anything about bailouts.
July 27th, 2010 at 11:34 am
franklin411 Says:
“Also, please note that the $11 trillion bailout figure is complete and utter baloney.”
So make it 1/2, make it a 1/4 hell make it 1/8. In a system called capitalism a penny is a penny to much to bail out “the bastion” of capitalism then again that money gets recycle back to senators, congressman and government officials one way or another. Call it trickle down corruption economics
July 27th, 2010 at 2:11 pm
Perspective:
http://whatshername13.deviantart.com/art/PLEASE-READ-THIS-157578940
July 31st, 2010 at 11:49 am
[...] What is a Billion Dollars? [...]