loans

How to Add $900 BIllion In Record Time to the Deficit? - Bailout Wall Street

Government bailout tally tops $900 billion according to Reuters.

They tally it up and it ain't pretty.

  • $200B - Fannie Mae/Freddie Mac
  • $300B - FHA
  • $4B - local community grants
  • $85B - AIG (loan)
  • $87B - JP Morgan for refinancing
  • $29B - Bear Sterns
  • $200B - outstanding loans

What does this imply just saddling the deficit in such rapid succession when the United States already is running on fumes due to bad policy and a absurdly expensive war?

Here's a laugh, just a couple of months ago the CBO was horrifying people that the bail out would cost $25B and they even claimed there was a 50% change that money would not be needed.