Since last fall, Mark Pittman and Bob Ivry of Bloomberg News have made a beat out of watching the bottom line in the U.S. government’s commitment of dollars–through lending, spending, and guarantees–to the financial crisis. In November, they estimated the sum at $7.4 trillion; as of last week, the figure had grown to $12.8 trillion.
As they write, “The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.”
Both the dollars and the alphabet soup of programs concocted at Treasury, the Fed, and the FDIC are largely missing from mainstream media accounts of the government’s measures, so stop for a moment to look at the amazing table they’ve compiled.