The bill for the Bush administration

January 8th, 2009 by admin Politics

President Bush inherited a peaceful, prosperous America. As he exits, Salon consults experts in seven fields to try to assess the devastation.

How much poorer are we going to get before we start getting richer again? Here are some (scary, morbid, gruesome) clues.

Expected shortfall of gross domestic product below normal growth path in 2009: $900 billion

Decline in the Dow Jones Industrial Average from its decade high to its value at the close of business, Jan. 7, 2009: 5,394.83, or 38.1 percent

Number of manufacturing jobs lost since 2000: 3.78 million

Increase in number of unemployed workers from 2001 to 2008: 4 million, a jump of 2.7 percent in the unemployment rate

Real median household income according to the 2000 census, adjusted for inflation: $51,804

Real median household income as of August 2007: $50,233

Of course, the government didn’t sit idly by while our financial future was disappearing down the drain. Instead, the feds have pumped in hundreds of billions of taxpayer dollars, hoping to juice lending and public spending.

Cost of finance industry bailout: $350 billion, with another $350 pending congressional approval

Cost of auto industry bailout: $17.4 billion, so far

And even though there’s widespread agreement among economists that the government needs to be spending a large sum of money on an economic stimulus package, it still won’t look pretty on the public balance sheet.

National debt: $10.6 trillion

Amount of that debt owned by China: At least $800 billion

Source: salon.com

1 Puppy2 Puppies3 Puppies4 Puppies5 Puppies (No Ratings Yet)
Loading ... Loading ...

 

Comments are closed.

Disclaimer

Almost all the posts on DrunkPuppy.net come from other blogs. Those posts are normally provided verbatim but the credit is always given to the original source. I make no pretenses that I'm the creative power behind the posts on DrunkPuppy.net - I simply post content I find interesting, intriguing, funny, or sad. Sometimes I even post articles that go against the things I belive in therefore, the posts on DrunkPuppy.net are not necessarily indicative of my views or the views of the original content providers.