How Did They Arrive at $700 Billion?
Posted by Duane Lester on Sep 24th, 2008 • 130 Clicks

This is unreal. All I have been hearing about is how much America needs this $700 billion bailout, that the economy is going to collapse if it isn’t passed. Oh, there will be wailing and gnashing of teeth if it isn’t approved by this Friday.

One question: how did they arrive at $700 billion for the bill?

“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”

I can’t make this stuff up.
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    Duane Lester is an ex-Navy journalist turned blogger and podcaster. He is the lead writer and editor for All American Blogger. You can also find him on StumbleUpon, Facebook, Twitter, LinkedIn, Blog Talk Radio and Newsvine. You can contact him by clicking the "E-mail this Author" button below.
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