A Bailout Coming 60x Bigger Than The Current One

Jonathan Garthwaite
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Posted: Sep 30, 2008 9:39 AM
Brian Riedl from the Heritage Foundation:

Think $700 billion to bail out Wall Street is expensive? Just wait. The mortgage meltdown is cheap compared with the coming fiscal firestorm fanned by unfunded Social Security and Medicare costs.

Together, these programs hold unfunded obligations totaling $41 trillion - 60 times larger than the proposed Wall Street bailout.