With so many huge numbers being thrown around, the question must be asked, what is the real cost of the bailout? The answer: $3,222.78 per US Citizen. The number was the result of research done by Noah Holcomb, a mechanical engineer whose professional work includes quality control and cost analysis in the manufacturing industry. The following is his analysis of the bailout, complete with sources to the original data:

What is the population Over 18?

To find this we need to use the data from previous united states census to calculate the population % of the past.

We can use this data to estimate the % of population over and/or under the age of 18

Data Type	Year	Subject	Age Demographic	Population	Sources Referenced
Given	2000	total population	ALL	281,421,906	Source 5
Calculated	2000	male population	Under 18	37,059,196	Sources 6 to 9
Calculated	2000	female population	Under 18	35,234,616	Source 10 to 13
Calculated	2000	total population	Under 18	72,293,812	Source 5 to 13
Calculated	2000	total population	Over 18	209,128,094	Source 5 to 13
Calculated	2000	population %	Under 18	25.69%	Source 5 to 13
Calculated	2000	population %	Over 18	74.31%	Source 5 to 13
Given	1990	total population	ALL	248,709,873	Source 14
Calculated	1990	total population	Under 18	63,604,432	Source 15 to 26
Calculated	1990	Total Population	Over 18	185,105,441	Source 14 to 26
Calculated	1990	population %	Under 18	25.57%	Source 14 to 26
Calculated	1990	population %	Over 18	74.43%	Source 14 to 26

% of the population under 18 has remained almost the same, so lets assume the current population % under 18 is at the 2000 level

Data Type	Year	Subject	Age Demographic	Population	Sources Referenced
Given	2008	current 2008 population	ALL	305,262,227	Source 2
Assumed	2008	population %	Under 18	25.69%	Source 5 to 26
Assumed	2008	population %	Over 18	74.31%	Source 5 to 26
Estimated	2008	total population	Under 18	78,418,096.03	Source 2, Source 5 to 26
Estimated	2008	total population	Over 18	226,844,130.97	Source 2, Source 5 to 26

Estimate Illegal Population

Let’s assume the illegal population distribution by age is the same as found in the legal population

Data Type	Year	Subject	Age Demographic	Population	Sources Referenced
Given	2006	illegal population	ALL	11,550,000	Source 3
Given	2000	illegal population	ALL	8,500,000	Source 4
Calculated	2000-2006	6 year growth %	ALL	35.88%	Source 3, 4
Calculated	2000-2006	yearly growth %	ALL	5.98%	Source 3, 4
Estimated	2007	total illegal population	ALL	12,240,735.29	Source 3, 4
Estimated	2008	total illegal population	ALL	12,972,779.27	Source 3, 4
Assumed	2008	illegal population %	Under 18	25.69%	Source 5 to 26
Assumed	2008	illegal population %	Under 18	74.31%	Source 5 to 26
Estimated	2008	total illegal population	Under 18	3,332,546.78	Source 3 to 26
Estimated	2009	total illegal population	Over 18	9,640,232.49	Source 3 to 26

Overall legal population of the United states by age demographic

Data Type	Year	Subject	Age Demographic	Population	Sources Referenced
Estimated	2008	legal population	ALL	292,289,448	Source 2 to 26
Estimated	2008	legal population	Under 18	75,085,549.25	Source 2 to 26
Estimated	2008	legal population	Over 18	217,203,898.48	Source 2 to 28

Total Cost of the Bailout per Citizen

Bailout Cost:	$700,000,000,000.00
Legal U.S Citizens over 18	217,203,898.48
$/citizen	$3,222.78

Sources

Source #	Source	Date	Population
1	CIA-Population 2007	Jul-07	301,139,947
2	U.S. Census Bureau – Current Population	09/25/08 at 8:56 GMT	305,262,227
3	Department of Homeland Security – Illegal Population	2006	11,550,000
4	Department of Homeland Security – Illegal Population	2000	8,500,000
5	U.S. Census Bureau – Population 2000	2000	281,421,906
6	U.S. Census Bureau – Male population under 5	2000	9,810,733
7	U.S. Census Bureau – Male population 5 to 9	2000	10,523,277
8	U.S. Census Bureau – Male population 10 to 14	2000	10,520,197
9	U.S. Census Bureau – Male population 15 to 17	2000	6,204,989
10	U.S. Census Bureau – Female population under 5	2000	9,365,065
11	U.S. Census Bureau – Female population 5 to 9	2000	10,026,228
12	U.S. Census Bureau – Female population 10 to 14	2000	10,007,875
13	U.S. Census Bureau – Female population 15 to 17	2000	5,835,448
14	U.S. Census Bureau – Total 1990 Population	1990	248,709,873
15	U.S. Census Bureau – Population Under 1 year	1990	3,217,312
16	U.S. Census Bureau – Population 1 to 2 years	1990	7,764,147
17	U.S. Census Bureau – Population 3 to 4 years	1990	7,372,984
18	U.S. Census Bureau – Population 5 years	1990	3,689,533
19	U.S. Census Bureau – Population 6 years	1990	3,577,632
20	U.S. Census Bureau – Population 7 to 9 years	1990	10,832,014
21	U.S. Census Bureau – Population 10 to 11 years	1990	7,108,692
22	U.S. Census Bureau – Population 12 to 13 years	1990	6,762,450
23	U.S. Census Bureau – Population 14 years	1990	3,243,107
24	U.S. Census Bureau – Population 15 years	1990	3,321,609
25	U.S. Census Bureau – Population 16 years	1990	3,304,890
26	U.S. Census Bureau – Population 17 years	1990	3,410,062

• Note for source #2, this number is based on the results of projected growth statistics. Please follow the link to verify if desired

Tags: economics

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