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A great overview of the total U.S. government (read: taxpayer) tab for the bailout by the New York Times (h/t The Big Picture). We’re talking a total of 32% of our 2008 GDP committed to this bail out. That is a truly staggering number. Amazing that the Republicans in the House and Senate, with the Republican White House administration, that oversaw the bulk of these $4.6 trillion in guarantees is blasting the Obama administration for wanton spending of taxpayer funds with their piddly $787 billion package (a mere 17% of the funds pledged to date.) Now, I don’t think anyone in government has gotten this thing right on either side of the aisle, but let’s remember our glass houses and rocks axiom here.
Great data from the New York Times on the total bail out (click for the full-sized image):
Last 3 posts by Morgan
- Subprime Bananas - June 28th, 2009
- Roubini: No confidence in government exit strategy - June 24th, 2009
- Goldman bonuses largest in firm's 140-year history - June 21st, 2009
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