Perspective on the Other $350 billion

I watched Contact last night, in which governments around the world unite to build a transporter from designs beamed to earth from outer space. (Actually the US secretly builds a second one: “Why build one when you can build two for twice the cost?”) The movie is about 10 years old, but the news shows in the movie comment on how this machine costs “a third of a trillion dollars” and is the most money spent on a single thing. That second part still holds up technically, since the $350 billion last fall was spread out over many banks. But, it is telling that 10 years ago – and even 6 months ago – that seemed like an absurd amount of money for the government to spend. And now the feds will okay another $350 billion – and who knows how many more in the coming year – as if the money actually exists.

If you haven’t already, read David Bardallis’ parody on the home page.

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8:02 am on January 14, 2009