The tab we’re running up for all this government intervention is adding up. What a surprise.
- There’s $800 Billion for TARP (to the everlasting shame of former Pres. Bush).
- There’s Spendulus Stimulus Plan will probably be in the $900 Billion range.
- There’s the new plan from our tax-cheating Secretary of the Treasury, Tim Geithner, who pledged “$1 trillion to $2 trillion in financing”. Of course, no one really knows what he means (including him) so his speech caused the stock market to plummet 5%. Keep up the good work Tim.
If you take the low end of the Geithner plan, you are looking at total bailout/stimulus spending of $2.7 trillion. That’s $2,700,000,000,000. As in $2.7×1012.
Here’s a good rule of thumb: when government spending is properly represented in scientific notation, you have a problem.
I’m sure you are wondering how much of your money is involved. Well there are roughly 90 million people who have a tax liability (out of 127 million filers). That’s about $30,000 per person without including interest.
You can make your check payable to “US Treasury c/o Nancy Pelosi and Barack Obama”.