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Thread: U.S. Rescue May Reach $23.7 Trillion, Barofsky Says (Update3)

  1. #1
    Join Date
    Oct 2008
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    01-03-16 @ 01:05 PM

    U.S. Rescue May Reach $23.7 Trillion, Barofsky Says (Update3)

    U.S. Rescue May Reach $23.7 Trillion, Barofsky Says (Update3) -

    U.S. taxpayers may be on the hook for as much as $23.7 trillion
    Population of US : +/- 300 million
    23 700 000 million / 300 million = 790000$ That YOU OWE.... Anyway, back to the article.

    “TARP has evolved into a program of unprecedented scope, scale and complexity,” Barofsky said in testimony prepared for a hearing tomorrow before the House Committee on Oversight and Government Reform.

    Treasury spokesman Andrew Williams said the U.S. has spent less than $2 trillion so far and that Barofsky’s estimates are flawed because they don’t take into account assets that back those programs or fees charged to recoup some costs shouldered by taxpayers.
    It's ok though... they've only managed to spend 2 Trillion dollars that you owe money on at interest.

    Realty Times - Fannie Mae Earns Record Profit, Controversy Continues
    Fannie Mae, which owns one mortgage in ten nationwide, has reported earnings for 2000 of $4.448 billion, up significantly from 1999 when the huge company earned $3.912 billion. The latest report marks the 14th consecutive year of record annual earnings -- and the heart of a growing controversy
    (I'll save the profits of the other 'bailed out' companies for length, but urge you to look at how much market share these banks have gained off the backs of the citizens.)

    Serious question :
    Is this discrepency meant to say that we are '10%' from spending enough money to buy our ticket our of recession town??

    Does this mean that they have a list of needs to promise 10X more money then they've already spent... which does 2trillion dollars have anything to do with the original cause of the crisis??

    Does the discrepency represent the portion that is on the verge of being 'monetized' (put into circulation thus weakening the rest of the dollars already in circulation ... as is my understanding of all this?) to 'free up' the funds to continue spending on their list of 'pledges'?

    How much inflation would 2trillion dollars of excess printing of money represent?
    the 23 trillion??

    IMHO - Whoever told you this had anything to do with a few people short a few payments on their home... well... LIED to you.

  2. #2
    Join Date
    May 2009
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    07-27-09 @ 06:23 PM

    Re: U.S. Rescue May Reach $23.7 Trillion, Barofsky Says (Update3)

    It's almost like a black hole of debt. You can't really look at it directly, but you can study by the distortions occurring around it.

  3. #3
    Councilman's Avatar
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    Apr 2009
    Riverside, County, CA.
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    11-04-11 @ 08:16 PM
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    Re: U.S. Rescue May Reach $23.7 Trillion, Barofsky Says (Update3)

    Well here's something you can blame on everyone Bush signed the bill into law and Obama pushed hard for it's passage.
    The thing is I am hearing that the vast majority of the money remains unspent. I and also hearing that it's going to withheld until just before the midterm elections and used for buying votes. I have no idea if it's true but I know that there is a tremendous amount left unspent.
    Last edited by Councilman; 07-24-09 at 12:34 PM.

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