Bailout Watch
An interactive cheat sheet on the trillions of dollars in federal rescue packages.
As Barack Obama prepares to take office and stimulate the economy, he's got to contend with a lot of government borrowing already on the books. Last month's announcement of $17.4 billion for the car sector was just the latest of more than a dozen multibillion-dollar rescue packages for a variety of industries and people endangered by the financial chaos. The magnitude of even one of these mega-bailouts is hard enough to grasp—see the "Explainer's" take on the meaning of $700 billion—and combined they represent trillions of dollars in federal commitments. The following Slate / The Big Money visualization attempts to put the magnitude of these rescue packages in perspective.
How to read this graphic
Think of the rings above as an onion; each ring is an added layer of federal money, such that the combined picture represents the total financial commitment of the U.S. government.
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Federal Reserve Folly
Treasury has loaned about half the $700 billion bailout. When government unconditionally fuses with private financial corporations, who's served? Jane Lunchlady's forced to service Bank of America, etc., not vice versa! That's Stamocap, state monopoly capitalism, big private financial corporations controlling the State. Expect loan refinance, then forgiveness. B. of A., etc. control the Bush Administration and Congress. The Federal Reserve now adds the folly of “easing.” It will create more money and buy discredited “financial products.” Jane L. doesn't sell them. B. of A., etc. made, bought and are stuck with them. Creation of money occurs along with creation of more debt (see the YouTube video “Zeitgeist Addendum, Modern Money Mechanics.”)
Left critics argue for ending war in fiscal restraint terms about the size of the national debt. Rightist critics appear paranoid about the power of Jewish European bankers. Both miss the problem. The debt and deficits matter less than growth of interest payments. That threatens America's ability to carry out our Constitutional commitment to promote our general welfare.
How do you know when your country is run by corporate infernal twins, Republicans and Democrats? Your kids are at war, based on lies, against poor people in weak nations, but antagonizing a billion Muslims, or Chinese... whatever. Your wallet is nearer empty; inflation and taxes for interest on the debt did it. Your weather is more extreme, the environment more depleted and toxic. And your dog is pregnant.
Only extreme campaign finance reform or mass defection from the infernal twins could take us off dynastic politics (Jeb v. Caroline 2016?) and “the middle of the road” to international disgrace and decline.
bailout
Ok who are we helping . The big guys . Come one we need help.