World News and Trends: Y2K-bug U.S. repair bill: $100 billion

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article by Good News Editor

U.S. companies and governments will have spent a staggering $100 billion to prevent and repair problems related to the year 2000 (Y2K) technology problem from 1995 through 2001, according to the Commerce Department.

That works out to an average of $365 for every man, woman and child.

However, the government also reported that the booming economy was sufficiently strong and stable that potential failures would not significantly affect the country's $9 trillion gross domestic product. "Any glitches that pop up [in 2000] should not hurt our economic growth," said Commerce secretary William Daley. "I am not going to lose any sleep." (Source: The Associated Press.)

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