Quote:
Originally Posted by Phanuthier
Ok lets try not to turn this into a 2-person discussion here. You are confused. Proof?
Committed? Sure, $12.8T or whatever. Spent?
$2T-3T
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I can't post the graph here because for some reason it comes out all garbled, but Bloomberg breaks down exactly where the money is going.
They've committed $12.8 billion....obviously not all of it has been spent, but a few trillion has been spent so far....outside of the TARP program, and trillions more WILL be spent in the future.
The NYT article clearly points out the commitment that the Federal Reserve has, where the money is going, and how much as been spent to date.
$5.4 trillion as an investor, $1.3 trillion spent, $2.3 trillion as a lender, $734 billion spent, $2.1 trillion as an insurer, $286 billion spent.
Some of the spending was announced on March 23, some before that.....but you cannot deny, without being blindly ignorant, that the government has committed $12.8 trillion to solve this crisis.
I could break it down even further, but I sense there is no point. I may have gotten the 'spent' and 'committed' mixed up a couple times, and I apologize for the confusion, but my original point still stands.
The commitment by the US government equals $12.8 trillion. That is what the original article I posted said, and every other article since then touched on it.