joad
Guest
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 Posted: Thu Nov 20, 2008 6:44 am Post subject: Bailout Tab Already in the TRILLION$ |
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Financial Crisis Tab Already In The Trillions
http://www.cnbc.com/id/27719011
Given the speed at which the federal government is throwing
money at the financial crisis, the average taxpayer, never
mind member of Congress, might not be faulted for losing
track.
CNBC, however, has been paying very close attention and
keeping a running tally of actual spending as well as the
commitments involved.
Try $4.28 trillion dollars. That's $4,284,500,000,000 and
more than what was spent on WW II, if adjusted for
inflation, based on our computations from a variety of
estimates and sources*.
Not only is it a astronomical amount of money, its' a
complicated cocktail of budgeted dollars, actual spending,
guarantees, loans, swaps and other market mechanisms by the
Federal Reserve, the Treasury and other offices of
government taken over roughly the last year, based on
government data and news releases. Strictly speaking, not
every cent is a direct result of what's called the financial
crisis, but it is arguably related to it. |
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