Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

$700B Goes a Long Way in Space—and on Earth

Bailout bucks could fund 7 space stations, pay salaries for 16M teachers

By Will McCahill, Newser Staff

Posted Oct 5, 2008 6:03 AM CDT

(Newser) – With the Treasury Department now in charge of figuring out what holes to plug with its $700 billion in bailout bucks, the San Francisco Chronicle takes a look at what else that money could do. Some highlights:

Hire 16,062,414 public-school teachers.
Pay the average weekly wages of 22 million Americans for one year (based on Department of Labor’s figure of $612 per week).

Buy 3,467,063 single-family homes, based on a median price of $201,900. (For the pricier Bay Area, it would be 1,130,856 homes at $619,000 each.)
Pay back $550 billion in outstanding student debt.
Fund seven more years of the wars in Iraq and Afghanistan, plus cover the Army’s annual budget.
Buy 70 more Hubble-style space telescopes, or seven more international space stations.

The bailout could buy 3,684 more de Young Museums for San Francisco, based on the current version's $190 million price tag. (©-Marlith-)

The $700 billion Wall Street bailout could buy seven more international space stations, calculates the "San Francisco Chronicle." (AP Photo)

The US could hire more than 16 million public school teachers with the money going to bail out financial institutions. (AP Photo)

« Prev« Prev | Next »Next » Slideshow

To report an error on this story, notify our editors.

More Newser Stories

Pentagon Readies Blueprint of Slim New Self

And with it, the Obama administration's defense priorities

(NEWSER) - The White House is poised to unveil its proposal to slim down the military to bring it in line with cuts agreed to in the recent debt ceiling deal, and in so doing give America a sense of Leon Panetta’s vision for the military’s future, the New York Times reports. It's already made some cuts at the top . Here are some other major areas that are likely under the knife: More»

Super Committee Wants to Count $700B War Savings

'Gimmick' would pay for things like payroll tax cut

(NEWSER) - The congressional super committee isn’t any closer to a deal, but consensus is growing around one thing: Counting the roughly $700 billion the country intends to stop spending in Iraq and Afghanistan toward its total. The idea has budget experts enraged—one member of a bipartisan group called it “the mother of all budget gimmicks”—so the committee has at least decided not to count the $700 billion toward its $1.2 trillion goal, the Washington Post reports. More»

Just 1 in 3 Vets Say Iraq, Afghanistan Wars 'Worth It'

Another 1 in 3 disagree: Pew Research Center poll

(NEWSER) - Friday marks the 10th anniversary of the US invasion of Afghanistan; with an eye on the decade-long effort, the Pew Research Center asks veterans: Were the Afghanistan and Iraq wars worth it? Just 34% of post-Sept. 11 veterans say yes, while another 33% say no (Afghanistan is considered slightly more worthwhile than Iraq, according to the poll). Even so, 96% say they are "proud" of their military service, and 82% say they would advise young people to enlist, Politico reports. More»

Pentagon Late Fees for Storage Boxes: $720M

Overdue containers can cost $2,200 each

(NEWSER) - The Pentagon has racked up a few late fees for metal containers it has rented and failed to return on time. Nothing serious—just a little more than $720 million during the past 10 years. Used for storage, building material, and shelter in Iraq and Afghanistan, the 20-foot containers can generate more than $2,200 each in late fees. "These are the kinds of things that happen when people are asleep at the wheel," a defense analyst tells USA Today . More»

Time for a War Tax to Cover Our Debts

10% surcharge could cover next year's bill: Walter Pincus

(NEWSER) - With the debt supercommittee looking to slash the deficit, some in Washington are raising an old question, notes Walter Pincus in the Washington Post : What about a tax on the wars in Iraq and Afghanistan? “These wars ought to be paid for and not put on a credit card so that our kids will have to pay for this in the future,” Democratic Rep. Jim McGovern tells him in an interview. “It’s morally wrong for members [of Congress] to call for support of our soldiers and then not ask the rest of us to pay for it.” More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

$700B Goes a Long Way in Space—and on Earth

Bailout bucks could fund 7 space stations, pay salaries for 16M teachers

OTHER STORIES ON OUR RADAR

education • International Space Station • Iraq war • student debt • Afghanistan war • single-family homes • Hubble Space Telescope

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Pentagon Readies Blueprint of Slim New Self

And with it, the Obama administration's defense priorities

Super Committee Wants to Count $700B War Savings

'Gimmick' would pay for things like payroll tax cut

Just 1 in 3 Vets Say Iraq, Afghanistan Wars 'Worth It'

Another 1 in 3 disagree: Pew Research Center poll

Pentagon Late Fees for Storage Boxes: $720M

Overdue containers can cost $2,200 each

Time for a War Tax to Cover Our Debts

10% surcharge could cover next year's bill: Walter Pincus

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?

$700B Goes a Long Way in Space—and on Earth

Bailout bucks could fund 7 space stations, pay salaries for 16M teachers

Bookmark & Share

OTHER STORIES ON OUR RADAR

education • International Space Station • Iraq war • student debt • Afghanistan war • single-family homes • Hubble Space Telescope

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Pentagon Readies Blueprint of Slim New Self

And with it, the Obama administration's defense priorities

Super Committee Wants to Count $700B War Savings

'Gimmick' would pay for things like payroll tax cut

Just 1 in 3 Vets Say Iraq, Afghanistan Wars 'Worth It'

Another 1 in 3 disagree: Pew Research Center poll

Pentagon Late Fees for Storage Boxes: $720M

Overdue containers can cost $2,200 each

Time for a War Tax to Cover Our Debts

10% surcharge could cover next year's bill: Walter Pincus

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?