Tag Archives: deficit

By the Numbers

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This is just some food for thought, numbers that that I find it difficult to get my head around, particularly how they relate to one another. How do you make sense of them?  Especially in light of the debate over current budget priorities?
Value of a Life:

  • The EPA estimates the value of life at $9.1 million.
  • The FDA estimates the value of life at $7.9 million.
  • For the Transportation Department the cost is only $6 million
  • Homeland Security say the cost of preventing death by terrorism may be 100 times higher than death by other means.

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(source: “As U.S. Agencies Put More Value on a Life, Businesses Fret,” by Binyamin Appelbaum. The New York Times, February, 16,2011.)
Profits, Taxes, Bailouts and Layoffs at one company:

  • Last week there were protests over the $885 million tax refund received by a Boston based company, State Street Corp.
  • The company reported $1.56 billion in profits last year.
  • It received a bailout of $2 billion in October 2008, though it repaid in in June 2009.
  • On Nov. 30 State Street announced that it is cutting 1,400 jobs, or 5 percent of its workforce.
  • In 2010 Chief Executive Officer Joseph “Jay” Hooley received compensation valued at $12.9 million.

(source: “State Street’s $885 Million Tax Refund Sparks Boston Protest,” Christopher Condon. Bloomberg, April 15, 2011)
State budget deficits:
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The Senator, the Unemployed and the Millionaires

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Read: "Congress lets unemployment benefits expire: 'What now' and six other questions


Senator Scott Brown blocked the extension of unemployment benefits for millions of Americans.

About 8,400 Americans will see their unemployment benefits cut off by the end of this week, according to the Labor Department. By the end of the third week of December, aid to 1.36 million Americans will be interrupted, the agency said.

Brown says that we can’t afford the extension and that we need to start focusing on “what is important,” the federal deficit.
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