Please help identify the 12 trillion Obama has supposedly added to debt.

[rgbecker]

Just listening to Chris Hedges on Alternative Radio . Org and I've heard these numbers before. Could someone tell me where the 12 Trillion comes from and some sources for the info? I so far count 700 billion for TARP and another 7-800 billion for stimulus which I guess is 1.4 trillion. I know there is something about future years, but what is it?

Thanks for all you do.

[laughingliberal]

1. Just my take on it:

I don't know the number but when they speak of the deficit they are generally referring to a period of 10 years, I believe. So, if the 12 trillion figure is accurate it would be 1.2 trillion per year.

edited to add:

It may also include the money for the wars which Obama put on budget and Bush did not.

[LuvNewcastle]

2. That number includes what has been

approved. http://www.bloggingstocks.com/2009/03/31/12-8-trillion-90-of-gdp-to-bail-out-bad-bets/

[New Dawn]

3. $12 trillion is approximately the US federal government's total debt

http://www.treasurydirect.gov/NP/BPDLogin?application=np

Of course, only about $1 trillion, or so, of that has accumulated while Obama has been president. For comparison, it increased by around $5 trillion during George W. Bush's presidency.

[zbdent]

4. as I understood it,

this was the first time in a LONNNNNNNNG time that the costs of the military and the wars were included in the debt ...

Otherwise, Bush would have really been shown to be killing this country with debt ... wait ... with a "liberal media" riding his ass every day? Never mind ... :eyes:

[econoclast]

5. 12 trillion detail as per Bloomberg

===========================================================
--- Amounts (Billions)---
Limit Current
===========================================================
Total $12,798.14 $4,169.71
-----------------------------------------------------------
Federal Reserve Total $7,765.64 $1,678.71
Primary Credit Discount $110.74 $61.31
Secondary Credit $0.19 $1.00
Primary dealer and others $147.00 $20.18
ABCP Liquidity $152.11 $6.85
AIG Credit $60.00 $43.19
Net Portfolio CP Funding $1,800.00 $241.31
Maiden Lane (Bear Stearns) $29.50 $28.82
Maiden Lane II (AIG) $22.50 $18.54
Maiden Lane III (AIG) $30.00 $24.04
Term Securities Lending $250.00 $88.55
Term Auction Facility $900.00 $468.59
Securities lending overnight $10.00 $4.41
Term Asset-Backed Loan Facility $900.00 $4.71
Currency Swaps/Other Assets $606.00 $377.87
MMIFF $540.00 $0.00
GSE Debt Purchases $600.00 $50.39
GSE Mortgage-Backed Securities $1,000.00 $236.16
Citigroup Bailout Fed Portion $220.40 $0.00
Bank of America Bailout $87.20 $0.00
Commitment to Buy Treasuries $300.00 $7.50
-----------------------------------------------------------
FDIC Total $2,038.50 $357.50
Public-Private Investment* $500.00 0.00
FDIC Liquidity Guarantees $1,400.00 $316.50
GE $126.00 $41.00
Citigroup Bailout FDIC $10.00 $0.00
Bank of America Bailout FDIC $2.50 $0.00
-----------------------------------------------------------
Treasury Total $2,694.00 $1,833.50
TARP $700.00 $599.50
Tax Break for Banks $29.00 $29.00
Stimulus Package (Bush) $168.00 $168.00
Stimulus II (Obama) $787.00 $787.00
Treasury Exchange Stabilization $50.00 $50.00
Student Loan Purchases $60.00 $0.00
Support for Fannie/Freddie $400.00 $200.00
Line of Credit for FDIC* $500.00 $0.00
-----------------------------------------------------------
HUD Total $300.00 $300.00
Hope for Homeowners FHA $300.00 $300.00
-----------------------------------------------------------
he FDIC’s commitment to guarantee lending under the
Legacy Loan Program and the Legacy Asset Program includes a $500
billion line of credit from the U.S. Treasury.




I apologize for the formatting. But I can't seem to get it lined up correctly.

[sendero]

7. Use a fixed width font...

... say < font face=courier > without the spaces at the beginning and < /font > at the end.

Where it shows angle brackets in my example, use the square ones (near the P key)

[JohnWxy]

6. $4.2 Tril is committed, $8.6 million approved.

using the link offered by LuvNewCastle:


http://www.bloggingstocks.com/2009/03/31/12-8-trillion-90-of-gdp-to-bail-out-bad-bets/


"of that $12.8 trillion, only a third -- or $4.2 trillion -- has actually been committed to a total of 34 distinct programs. The remaining $8.6 trillion is the limit of how much has been approved."

[econoclast]

8. Unfortunately

Governments have a disturbing propensity to send every last nickel that has been authorized.