The New York Times did some taxpayer-bailout number crunching and found that through March 2, the government has made commitments of $9 trillion (that's $9,000,000,000,000) to support the struggling financial system, and actually so far spent $2.1 trillion (that's $2,100,000,000,000), on investments (purchases of assets), loans and insurance or guarantees.
In crunching the numbers a little further, FOX Business’ Team Washington finds that the U.S. has spent $18,584 per household to shore up the financial system, and has committed a total of $79,646 per household. (What else would your share of the bailout buy?) Remember, you (the taxpayer) stand to get this money plus interest back. But, as one "Where's My Money" reader points out, there are no guarantees in life (nor loans). We're sure the average belly-upped subprime borrower had all intentions of repaying his or her loan, too.
In addition to this spending to cure what ails the finance sector, the U.S. is planning to spend $6,965 per household to stimulate the economy.
[...] under-reported gem is that the bailout cost per household is estimated to be a whopping $18,584. according to the New York Times and reported on FOX [...]
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You don’t like the stimulus scheme? 300,000 illegal workers will « Seeing Red AZ
[...] under-reported gem is that the bailout cost per household is estimated to be a whopping $18,584. according to the New York Times and reported on FOX [...]