CNN Money has a 2 minute video entitled, “Throwing Money at Problems”. In the video, they compare Obama’s estimated $1,000,000,000,000 stimulus package with massive projects from the past adjusted for today’s dollar values. They are quoting this Wall Street Journal article.

The Wall Street Journal is saying that only World War II cost the United States more money than the $775 billion dollar stimulus package that Obama is getting ready to pass through Congress and the Senate and into law.

Here are the highlights:

President Eisenhower’s Interstate Highway System cost $800 billion in today’s dollars

FDR’s New Deal - $500 billion

The Race to the Moon - $140 billion

The Atomic Bomb - $29 billion

Only World War II cost American’s more than Obama’s current stimulus package which could easily end up being over $1 trillion. According to the Wall Street Journal, World War II cost America $4 trillion back in the day which is equivalent to $17 trillion in today’s money.

What is truly sad about this expenditure by Obama and the US is that in the end it will be wasted. They keep trying to stop the economy from tanking. Unfortunately, it will tank no matter what the Americans do to try to stop it. At best, they are prolonging the misery because these stimulus packages do nothing to help the bad money clear the system.

Some argue for tax cuts to stimulate the economy. Again, tax cuts do not address the underlying problem which is about lack of trust in the financial system and lack of confidence. This can only be dealt with through lawsuits and letting bad companies fail, no matter how big they are.

I think the biggest reason why the politicians are spending this money is because they can’t be seen to be doing nothing. I agree with Krugman though that any effort that Obama makes to be more bipartisan will only end up biting him in the back when it is bound to fail.