Bailout Total So Far… nearly 24 Trillion Dollars!
posted by Josiah Garber on July 24, 2009
in Economics, Politics
Yes that’s 24 Trillion with a T. Uncommonly known as $24,000,000,000,000.00
These numbers don’t get reported every night on the news. I thought you might be interested in knowing that your government has spent nearly 24 Trillion dollars on bailouts so far.
What will be the effects of this reckless spending? Time will certainly tell… It is likely that the effects will be similar to what has happened in the past. A short lived boom followed by inflation and recession. Or perhaps this time we will skip the boom and move directly to stagflation.
This isn’t the only problem facing our country monetarily. Check out what David Walker has to say about it.
To learn more about booms and busts and the effects of expanding the monetary base,
Google: Austrian Economics or Weimar Republic or Zimbabwe Inflation.
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