“A $700 billion expenditure on distressed mortgage-related assets would roughly be what the country has spent so far in direct costs on the Iraq war and more than the Pentagon’s total yearly budget appropriation. Divided across the population, it would amount to more than $2,000 for every man, woman and child in the United States.”

(Source: NY Times, 9/21/08)

One Response to “Factoid of the day: $700,000,000,000”

  1. Norm Patry says:

    Dan, thanks for this post. Related, I read last week in small block article in our local Tampa newspaper (not sure of the source) that in 2008 the U.S. has “exported” to foreign nations a variety of military gear and equipment to the tune of almost triple ($32B) of the amount ($12B) in 2005. Imagine if just a small portion of that money could be invested in our education system!!

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