01 Dec
Bailout Compared to Historic Government Expenditures
My good friend Nagu has a great post comparing the current government bailout of banks to previous large-scale government expenditures. His post builds off of this post. I like the chart that Nagu has created here:
What strikes me is that the credit-crisis bailout is still a smaller percentage of GDP than the New Deal. Of course, we haven’t even begun to implement any New Deal-esque programs. Hopefully the Obama administration won’t chicken out, and will actually implement some of these types of programs (healthcare, green economy, etc.).
We shall see…