financialcounselor

WHAT WE COULD HAVE BOUGHT WITH THE MONEY WE GAVE THE BANKS

In Opinion on November 21, 2010 at 10:43 pm

According to the media, $700 billion in public money was given to the financial system two years ago this month. Think about how much money $700 billion really is. These examples should add perspective:

–The international space station, floating through space around the Earth as you read this, cost about $100 billion, according to most estimates, to build and put into orbit. We could have built seven space stations for what we gave the banks.

–$700 billion would pay for 17.5 million people to get a bachelor’s degree, at a cost of $40,000 in total tuition.

–The F-22 stealth fighter jet, called the best fighter jet ever built, cost $361 million apiece, according to the General Accountability Office. We could have gotten 1,939 of these warplanes for our $700 billion.

–It cost China $1.5 billion to build the Shanghai bullet train system. At that cost we could have built several hundred of these super-fast train systems with $700 billion.

–$700 billion would pay for a year of groceries for 140 million American households. (Assuming a grocery bill of $400 per month)

–Not to mention all the medical and scientific research that $700 billion would have paid for.

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