3 ms·
$8B/two months is in the noise. The 2010 US deficit is >$100B/month, or >$8B in 3 days. (The White House estimates $1.56T while CBO estimates $1.35T.) The 20
by anamax 17y ago
$8B/two months is in the noise.
The 2010 US deficit is >$100B/month, or >$8B in 3 days. (The White House estimates $1.56T while CBO estimates $1.35T.) The 2011 deficit estimates are smaller, but still very large. (CBO says just under $1T while WH says around $1.25T.)
The lowest WH deficit estimate is over $600B/year.
- lmkg 17y agoThis is the recoup on a single $45 billion investment, which is nearly as much noise as $8 is. If your point is just to put the amounts in perspective on the government scale, that's valid. However, the point of the article was not that Citi paid off the national debt, it's that the bailout was not completely flushing money down the toilet. Considering the "omg government waste" hype that was flying around this time last year, the point of the article is the sign of the net ROI, not the magnitude.
- AmericanOP 17y agoI agree with you, especially since I just made a similar comment above. I think that because conversation on this site rarely touches on the macroeconomic situation, an obvious comment rehashing our debt problem can seem like an insightful contribution by the author. I think it's good HN doesn't focus on macro speculation since it can be so polarizing, though I think it's unintentionally caused by a lack of discussion around leading indicators.