Pick a BIGGER number!!!

10 000 000 000 000 000 000 000 000 000 000
000 000 000 000 000 000 000 000 000 000 000
000 000 000 000 000 000 000 000 000 000 000 000

(one googol, the largest named number. why not pick this one?)

Here is the latest headline making the rounds:

Bailouts Could Cost U.S. $23 Trillion

Twenty-three trillion?? Really?? Well, no. The article in Politico explains:

"For the government to be on the hook for the total amount, worst-case scenarios would have to come to pass in a variety of federal programs, which is unlikely."

The article then goes on to rant and rave about what a huge number $23 trillion is, and how outraged everyone is. Outraged, I tell you!

Now, if you read a little deeper, you find out that the $23 trillion figure comes from Neil Barofsky, the special inspector general overseeing the TARP program. He is pushing for increased transparency and accountability from TARP recipients, which is a good thing.

But as I said, there is some dispute about his math. For one thing, the $23 trillion figure assumes that everybody who is eligible for a federal bailout suddenly receives the maximum amount all at the same time. It includes programs that have already ended. And it "does not take into account assets that back those programs or fees charged to recoup some costs shouldered by taxpayers," according to Andrew Williams, a Treasury spokesman.

So, what is the problem with publicizing a simple little number that represents a worst-case scenario?

The problem is, many people never go beyond the headlines.

We could end up paying $23 trillion?? We can't possibly afford to reform health care!! Obama is out to take over the world!! Maybe it's time to elect some Republicans!!

Hmmm ... I have a theory about all this.

Stay tuned.

~~~