"U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs"

Posted Mon, Feb 9, 2009 at 10:58 am

From this:

The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages...

The pledges, amounting to almost two-thirds of the value of everything produced in the U.S. last year, are intended to rescue the financial system after the credit markets seized up about 18 months ago. The promises are composed of about $1 trillion in stimulus packages, around $3 trillion in lending and spending and $5.7 trillion in agreements to provide aid...

The $9.7 trillion in pledges would be enough to send a $1,430 check to every man, woman and child alive in the world. It’s 13 times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office data, and is almost enough to pay off every home mortgage loan in the U.S., calculated at $10.5 trillion by the Federal Reserve...

Tags: 
stimulus plan

Comments

eh (not verified)

Mon, 02/09/2009 - 18:47

That's OK. It's absolutely necessary. His Obamaness said so.

Fred Dawes (not verified)

Tue, 02/10/2009 - 00:44

This information was on jerry doyle 6 months ago but its not 9 its 300 trillion. the real program is not just the USA But to bailout all world banks, meaning a hell of alot of money for about 1500 ruling families called world oligarchs and that will make you a totally enslaved person, and what that means the ruling families will be able to make all the rules and tell you what to do by using your political leaders, also listen to savage nation and buy lots of food. "Obama is so owned its a joke", he needs the collapse for a birth of a new world order that will have lots of fun with your butt's in this world and in hell.