Tuesday, September 23, 2008

A billion here, a billion there

Invading the Netherlands might be advisable—that nation's GDP was $768.7 billion last year. Of course, invasions cost a lot of money.
--Juliet Lapidos, Slate, on paying for the Wall Street bailout

Lastly, in apocalyptic terms, $700 billion really isn't all that much. If nothing is done to change the way we finance Social Security, the trust fund reserves will be exhausted by 2041. This means that, in 75 years, there'll be a shortfall of $4.3 trillion—or about six bailouts. According to the Stern report (issued by U.K. economist Sir Nicholas Stern), global climate change could cost the planet $9 trillion (or 12.86 bailouts) if we don't address the problem within the next decade or so.
--Juliet Lapidos on why it's not so bad after all

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