The numbers are 'wonky'.
For the 'bailout' numbers they are adding together ALL of the potential worst-case OBLIGATIONS (the vast majority of which *have not been spent*, nor appropriated... and may never be).
That is to say: if the economy regains it's footing most of the government's assumed losses may never exist... and the actual CASH appropriated thus far is but a tiny sliver of that total, (& humongous) "$8.5 Trillion" figure.
Whereas, over on the "war" side of the ledger, (and unlike the bailout side), I'd argue that *only* direct expenditures have been counted (for example, the chart shows just $648 Billion for Iraq...), but *total costs* to society (including such things - let's just stick with Iraq for now - as the life-long medical care the Veteran's system must bear, the cost of replacing all of that worn-out military equipment, etc., and also the fact that the war itself is not over).
Apples and oranges.
(PS ---- I had already come across the pie chart Casey produced... and, I've read many of his books over the decades. But, ya need to realize: he's a hard asset advocate... and here, he is comparing apples to oranges.) |
