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.
If the total debt doesn't hit 40% of GDP I will say someone is cooking the books at this point.