As of today, the cost of the banking/financial system bailout has been $2.25 trillion dollars.Barry Ritholtz at The Big Picture estimates that the total cost of the bailout will be somewhere between $4 and $6 trillion bucks.
And you'll note that after all of that money thrown at the problem, the credit market is still frozen and financial markets are right back where they were last Friday - hitting bottom.
Add the price of the bank bailout to the costs of the Iraq war and the Afghanistan war, both of which have been added to the federal deficit/credit card, and you have an awful lot of money the small government Bushies have borrowed/printed over the past eight years to pursue their policies and/or stem the damage from same said policies.
And what will be the consequences from all that borrowed and/or printed money in coming years?
Just take a look at the picture for a preview.
Right now we have deflation in lots of areas, particularly housing. But you can't print all this money and toss it from a helicopter the way they have been doing without serious consequences.
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