The Black Humor of Projected Costs of Government Bailouts, Etc. Versus Actual Costs

It is customary to say that whatever politicians claim will be the cost of any government program or bailout we always know the actual cost will be much higher. It’s so obvious no examples need be cited. But just in case anyone doubts that, here is a story from July 22, 2008 when the bright lights in Washington were predicting the Fannie Mae and Freddie Mac bailout would cost $25 Billion, and here is the current CBO estimate that the actual cost will be $390 Billion.

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