Chuck Schumer (D) wants to double the size of the financial bailout package. For those of you keeping score at home, that's 1.4 trillion

WASHINGTON (Reuters) - An influential U.S. Senate Democrat said on Sunday a large economic stimulus package of up to $700 billion was needed to lift the American economy out of its current downturn.
Sen. Charles Schumer, a New York Democrat who is part of the majority leadership team in the Senate, told ABC's "This Week" that an economic recovery package between $500 billion and $700 billion is needed and could be ready by the time President-elect Barack Obama takes office on January 20.
"In my view it has to be between five and seven hundred billion dollars," Schumer said.

We'll be paying this crap off until I'm ready to retire and I'm only 23.

I suggest Mr. Schumer pledge his own life savings to bailing out special interests, not mine.

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Originally Posted by countybear

I suggest Mr. Schumer pledge his own life savings to bailing out special interests, not mine.

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I second that!

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Originally Posted by mtaylor

We'll be paying this crap off until I'm ready to retire and I'm only 23.

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I don't think we'll ever pay it off - We already had $10 Trillion that needs paying off! :doh:

http://www.treasurydirect.gov/NP/BPD...application=np

The Debt to the Penny and Who Holds It

( Debt Held by the Public vs. Intragovernmental Holdings )

Current: 11/21/2008
Debt Held by the Public: $6,393,775,797,295.81
Intragovernmental Holdings: $4,261,692,851,682.26
Total Public Debt Outstanding: $10,655,468,648,978.07

So that would take us over 5 trillion total?

As of Nov 18 CNBC had the financial crisis tab at $4.28 trillion dollars.

Of course the total depends who you ask. For example :

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In doing the research for the "Bailout Nation" book, I needed a way to put the dollar amounts into proper historical perspective.

If we add in the Citi bailout, the total cost now exceeds $4.6165 trillion dollars.

People have a hard time conceptualizing very large numbers, so let’s give this some context. The current Credit Crisis bailout is now the largest outlay In American history.

Crunching the inflation adjusted numbers, we find the bailout has cost more than all of these big budget government expenditures – combined:

• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion

TOTAL: $3.92 trillion

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Originally Posted by Odd

Crunching the inflation adjusted numbers, we find the bailout has cost more than all of these big budget government expenditures – combined:

• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion

TOTAL: $3.92 trillion

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Hey, don't blame us. WE didn't sell it. That was done just a little before my time.

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Originally Posted by cajunguy

Hey, don't blame us. WE didn't sell it. That was done just a little before my time.

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Certainly you would not suggest we sell it back to France? :biggrin1:

The Louisiana purchase was the best investment ever by the federal government. The only problem I got with it is that land that rightly belongs to the state of of Louisiana was divided up among approx. 15 other states. We was robbed. I think we outta file suit and get what is entitled to us back. Rally around the flag , Swamp Mafia. :D

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Originally Posted by Captain America

The Louisiana purchase was the best investment ever by the federal government. The only problem I got with it is that land that rightly belongs to the state of of Louisiana was divided up among approx. 15 other states. We was robbed. I think we outta file suit and get what is entitled to us back. Rally around the flag , Swamp Mafia. :D

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I can relate. The Treaty of Guadalupe Hidalgo

This is where we bought the Mexican Cession from Mexico in 1848 after the end of the Mexican-American war to the tune of $15 million. (Inflation Adjusted Cost $313 million, 2006)

The Mexican Cession is comprised of all of present day California, Nevada, Utah and parts of Arizona, New Mexico, Colorado and Wyoming.

Then we bought the Gadsden Purchase for an additional $10 million.