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

Feb 15, 2000
1 minute read time

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.

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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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