The table is organized according to the lowest to highest amount of government committed funds. Please scroll over each program to find a synopsis. Click on each program to see Judicial Watch's work. Scroll over the Information button (
) to find relevant internet links including official documents and news articles. Scroll over the icons in the Comparisons column to read pop-up text that relates the amount of money committed to various expenses. The Coffee Cup symbol (
) compares the program's committed resources to daily consumption of coffee from Starbucks per capita. The Grocery Bag icon (
) compares the program's committed billions to an average American's annual cost of living based on the consumer price index. Scroll over the Dollar icon (
) to compare the 2006 US budget with each bailout program. The 2006 budget is chosen as a baseline due to the economic rumblings in 2007. Below the table is a graph that shows the portion of the bailout of each program.
The government economic bailout altered the role of the Federal Reserve and the government's relationship with private enterprises. Schooled in the Great Depression, Fed Chairman Bernanke feared a repeat and wielded unchecked power. Many question Bernanke's fear of "contagion" (i.e. the spreading of bank disaster) and the long-term effects of unchecked Fed power. Paying the bill ultimately rests with the taxpayers. When trillions of dollars are pumped into institutions that would have otherwise gone bankrupt, the significance of not only the action, but its magnitude are hard to comprehend.
Judicial Watch's table puts into perspective the magnitude of bailout spending. To provide a scale of comparison, Judicial Watch presents numbers to connect expense with the perspectives of individual short-term, individual longer-term, and a nationwide short-term focus. How does one comprehend a trillion dollars? Much less $24 trillion? To note, the numbers are not transparent. Various sources provide different estimates. We have compiled numbers from a variety of sources including CNNMoney, the Federal Reserve, Department of Treasury, etc. The bailout is constantly evolving and so we focus on the money committed rather than spent. These commitments, however, can also change, and programs can be created instantaneously with unprecedented Fed power. The estimated worst case scenario is that the bailout will cost the American people nearly $24 trillion. Explore the table and you will find relevant news articles, links to Judicial Watch's investigations and lawsuits, and relevant comparisons.
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