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Putting aside the good-plane/bad-plane discussion, this program is the poster child for one of my pet wishes: that the costs of government programs would be expressed in $/tax-payer. There are about 100M tax payers in the US; this program is expected to cost about $1,500,000M; so the F35 program is expected to cost about $15,000 per tax payer. True: that's over 50 years; still, un-discounted, that's $300/year/tax-payer. The Covid bailout last year was about $60,000 per tax payer (https://www.covidmoneytracker.org/). How much of your $60,000 did you see? I'm not arguing for or against these programs; I'm arguing for expressing them in comprehensible terms. $6,000,000,000,000 societal total; or $60,000 for you. Do you expect to receive $15,000 of value from the F35 program? I'm not sure I won't: perhaps it'll keep oil/energy prices stable and I spent well more than $300/year on energy... |
I am not saying Federal Reserve actions don't have a cost, but comparing that to defense spending is apples to oranges. The federal reserve buys securities and created SPVs. You could say that is a cost but by some measures the money the Federal Reserve "spent" made money in the 2009 crises. If that were true this time your cost per tax payer is way, way off.
Or to put it in more plain language, you are comparing the cost to tax payers if the US government bought $60,000 of Lockheed martin stock as opposed to paying Lockheed Martin $15,000 for a fighter that doesn't seem to work well. It's more complicated than that even, but still it is a terrible and biased comparison that you are making.