The tally on the bailout has reached the $12 trillion mark. At this point, I'm no longer a fan of letting the system work out the problems of the past few years. $12 trillion better work or we're toast. After all, as a nation, we've bankrupted any semblance of credibility that our financial system had. If our situation gets any worse, a la Japan, then we won't have any means to backstop the problem.
My prior bailout tallies:
My prior bailout tallies:
Source:
- Mark Pittman and Bob Ivry. "Financial Rescue Nears GDP as Pledges Top $12.8 Trillion." Bloomberg.com. Accessed April 28, 2009.
