Barry Ritholtz calculates the total taxpayer liability of all the accumulated bailout programs at $8.5 trillion dollars. (Not including the $5.2 trillion in Fannie Mae / Freddie Mac mortgages.) US GDP was estimated in 2006 to be $13.13 trillion dollars. Wow!
Bailout Trillions
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Thanks. It’s great to see someone take a stab at a spreadsheet model.
One question that coma to mind for me is how this number ($8.5B + $5.2B) compares to the overall domestic mortgage debt. The number that I found on the Web is ~$10B [1,2]. Ouch! 8.5B+5.2B is a relatively huge number! Hmmm, too large given that housing mortagages have been directly implicated in the bailouts. … Regardless, the US clearly has to get its house in order… Or else?? :-/
[1] http://mwhodges.home.att.net/nat-debt/debt-nat-a.htm
[2] http://www.epinet.org/Issuebriefs/203/ib203.pdf