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Ear to the Ground

Your Bailout Bill: $10,000 (and Counting)

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Posted on Jan 7, 2010

The total price tag for each American for the financial bailout is about $10,000. Could be worse: Brits are paying more than $47,000 apiece. The unemployed bear the brunt of the meltdown, but we all carry a debt for saving Citi, AIG and the rest.

These figures come from the BBC, which has snappy little animation that really drives the point home.  —PZS

BBC:

New calculations by the BBC, based on IMF data given to G20 finance ministers, shows these countries have spent a total of $10 trillion (£6tn).

The UK and US spent the most, with the UK spending far more, 94% of its GDP compared to 25% in the US.

That equates to £30,000 per person in the UK and $10,000 in the US.

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By FRTothus, January 8, 2010 at 2:45 am Link to this comment

“Our upside down welfare state is “socialism for the rich, free enterprise for the poor.” The great welfare scandal of the age concerns the dole we give rich people.”
(William O. Douglas, former U.S. Supreme Court Justice, 1969)

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