So what is the "bailout total" up to now? Bloomberg has published a chart that shows how much and to whom. The grand total (and climbing) is now $11,623,630,000,000.00. This doesn't include the stingy Obama budget projections that will run trillion dollar deficits as far as the eye can see. Link to Bloomberg:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aZchK__XUF84
Here's a section of that page:
--- Amounts (Billions)---
Limit Current
===========================================================
Total $11,623.63 $3,800.18
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Federal Reserve Total $7,565.63 $1,478.88
Primary Credit Discount $110.74 $65.14
Secondary Credit $0.19 $0.00
Primary dealer and others $147.00 $25.27
ABCP Liquidity $152.11 $12.72
AIG Credit $60.00 $37.36
Net Portfolio CP Funding $1,800.00 $248.67
Maiden Lane (Bear Stearns) $29.50 $28.82
Maiden Lane II (AIG) $22.50 $18.82
Maiden Lane III (AIG) $30.00 $24.34
Term Securities Lending $250.00 $115.28
Term Auction Facility $900.00 $447.56
Securities lending overnight $10.00 $5.59
Public-Private Investment Fund $1,000.00 $0.00
Term Asset-Backed Loan Facility $1,000.00 $0.00
Currency Swaps/Other Assets $606.00 $417.86
MMIFF $540.00 $0.00
GSE Debt Purchases $600.00 $33.58
Citigroup Bailout Fed Portion $220.40 $0.00
Bank of America Bailout $87.20 $0.00
-----------------------------------------------------------
FDIC Total $1,551.50 $400.30
FDIC Liquidity Guarantees $1,400.00 $261.30
GE $139.00 $139.00
Citigroup Bailout FDIC $10.00 $0.00
Bank of America Bailout FDIC $2.50 $0.00
-----------------------------------------------------------
Treasury Total $2,206.50 $1,621.00
TARP $700.00 $387.00
Tax Break for Banks $29.00 $29.00
Stimulus Package $168.00 $168.00
Stimulus II $787.00 $787.00
Treasury Exchange Stabilization $50.00 $50.00
Student Loan Purchases $60.00 $0.00
Citigroup Bailout $5.00 $0.00
Bank of America Bailout $7.50 $0.00
Support for Fannie/Freddie $400.00 $200.00
-----------------------------------------------------------
HUD Total $300.00 $300.00
Hope for Homeowners FHA $300.00 $300.00
Last Updated: February 24, 2009 00:01 EST
And that's not an April fools joke.
Congress and Obama are Protecting Taxpayer's Money?
You have to laugh out loud when you see our stellar congressional leadership claiming that they are saving taxpayer's money or protecting taxpayer’s money, as if they really care. First, the majority of the money they’re spending this year isn't taxpayer money. It's money borrowed on the credit account of citizens of this country. It's also money borrowed from the Social Security "Trust Fund" and the Medicare fund. The money being printed and electronically created by the Federal Reserve for bailout programs is not taxpayer money. It’s just more money created out of nothing against the value of the money held by U.S. citizens in their pockets or savings. Creation of money in this way debases the value of every dollar you have or will earn for the rest of your life. It also debases the money your kids will earn and their kids will earn assuming there are any jobs for them. I guess there should be some jobs shinning shoes for the Chinese folks who will own most everything in this country, if things keep going in the direction our leader is taking us.
It’s also a joke when the Democrats claim that they are protecting the taxes of their constituents. A large percentage of their constituents don’t pay any taxes at all. I guess if Obama is going to redistribute tax money from taxpayers to non-taxpayers, you could call it the non-taxpayers’ money but when can you correctly call it that? Would it be at the moment when the government sucks the taxes out of your paycheck each month, or is it during the micro-second that it sits in the U.S. Treasury? Perhaps it’s when the check is printed to the order of the non-taxpayer or maybe it’s when that non-taxpayer cashes the check. So maybe Congressional leaders are protecting our non-taxpayer and taxpayer taxes. Thank goodness for that. Without their protection, we might get into serious economic trouble. Rest easy and sleep tight. Your future is in good hands.