Congratulations: You're Worth Millions

What's a human life worth? Quite a bit, according to the Obama administration. The New York Times rounds up some examples:

• The EPA values the cost of a life at $9.1 million, up from $6.8 million under Bush.
• The FDA comes in at $7.9 million, up from $5.8 million in 2008.
• The Transportation Department says $6.1 million, up from $3.5 million in 2005.

In fact, values are rising across the board at federal agencies that have to deal in such matters, notes the Times. For businesses, it's a very big deal, because those rising values translate into more expensive safety regulations. “It looks like they just cooked the books— they just doubled the numbers,” complains a leader of a truck drivers' group. But a Vanderbilt economist counters that the upgrades were long overdue. For more on the issue, click here. (More Obama administration stories.)