Below The Beltway

Your $ 15,000 Bill From The Government

by Doug Mataconis @ 7:32 am on November 9, 2008. Filed under Credit Crisis, Economics, Politics

Reason’s Hit & Run calculates the total cost of the bailout, so far:

For those too sozzled or bozwozzled to track what we’re spending on on bailouts these days, here’s a quick tally:

$29 billion for Bear Stearns

$143.8 billion for AIG (thus far, it keeps growing)

$100 billion for Fannie Mae

$100 billion for Freddie Mac

$700 billion for Wall Street, including Bank of America (Merrill Lynch), Citigroup, JP Morgan (WaMu), Wells Fargo (Wachovia), Morgan Stanley, Goldman Sachs, and a lot more

$25 billion for The Big Three in Detroit

$8 billion for IndyMac

$150 billion stimulus package (from January)

$50 billion for money market funds

$138 billion for Lehman Bros. (post bankruptcy) through JP Morgan

$620 billion for general currency swaps from the Fed

Rough total: $2,063,800,000,000

That’s a little over $6,800 for every man, woman, and child, or just under $15,000 for each of America’s 140 million taxpayers.