Monday, July 20, 2009

Government Watchdog: Bailouts Could Rise to $23 Trillion Dollars


I have previously pointed out that "independent experts say that total government spending [for the bailouts] could rise to $20 trillion dollars."

Now, the government’s own watchdog over the various bailout efforts - the special inspector general - says that that number could be $23 trillion dollars in a worst-case scenario.

Treasury argues that that amount will not really be spent, because the worst-case won't happen.

But given that Treasury used "worst case scenarios" for the stress tests that we've already surpassed, does that argument have any credibility whatsoever?



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1 comment:

  1. RBMJuly 20, 2009 at 4:52 PM

    OMG! 23 trillion and only 700 billion of it was approved by congress! Congress needs to hire special prosecutors right now and start putting people on trial. This number is twice our GDP and bureaucrats not congress authorized it. This should cause your hair to stand on end. The end is nigh.

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