How much did the Great Financial Crisis cost America? Nearly $30 trillion

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How much did the Great Financial Crisis cost America? Nearly $30 trillion

How much did the Great Financial Crisis cost America? Nearly $30 trillion

Aei-Ideas-

The Federal Deposit Insurance Corp. says it’s selling $2.4 billion in Citigroup bonds. That represents the last bit of the bank owned by a government agency because of Great Financial Crisis bailout. Washington has already cleared about $13 billion on the Citi bailout from selling a $45 billion investment in Citi preferred stock for $57 billion. The current sale, according to Bloomberg, “would bring the government’s overall profit on the Citi bailout to nearly $15.5 billion.”

[AEI-IDEAS]

Dallas Fed-

We conservatively estimate the loss of national output as a result of the financial crisis and its aftermath at between $6 trillion and $14 trillion. The high end of this range is equal to nearly one year of U.S. output. Including broader and more-difficult-to-quantify measures that reflect the lingering trauma experienced by millions of Americans pushes these costs still higher—possibly to as much as two years’ worth of forgone consumption.

[THE DALLAS FED]

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