Cost Of Bailout Hits A Whopping $24 Trillion Dollars…Posted: July 21, 2009
According to the watchdog overseeing the federal government’s financial bailout program, the full exposure since 2007 amounts to a whopping $23.7 trillion dollars, or $80,000 for every American citizen.
The last time we were able to get a measure of the total cost of the bailout, it stood at around $8.5 trillion dollars. Eight months down the line and that figure has almost tripled.
The $23.7 trillion figure comprises “about 50 initiatives and programs set up by the Bush and Obama administrations as well as by the Federal Reserve,” according to the Associated Press.
Read full article »»