A Bad Year for the US Taxpayer

I just did the math on all the bailouts and such, to see how much the government has spent in the last 12 months to bailout the banks and the economy and the total is about $2.036 trillion..............

Bailouts -

Bear Sterns $30 billion (we will be lucky to get back 6 cents on the dollar)
AIG $85 billion
AIG part 2 (after the swanky party) $25 billion
Freddie Mac $100 billion so far
Fannie Mae $100 billion so far (the "Bazooka")
The TARP $700 billion so far (Germany's version of the TARP is $630 billion, so to match that amount on a GDP adjusted basis, the US TARP would (may) end up costing $2.7 trillion)

Assorted Loans and Credits $631 billion
Securities "loaned" to banks (and never to be seen again) $299 billion
Stimulus Package I $165 billion

For a grand total of $2.036 trillion.

Thanks Washington and Wall Street, you done good.

Here is an explaination of how the Fed "invented" all this new money -

http://www.econbrowser.com/archives/2008/10/balance_sheet_o.html