U.S. Bailout Costs May Reach $23.7 Trillion, TARP Inspector Says

July 20 (Bloomberg) -- U.S. taxpayers may be on the hook for as much as $23.7 trillion to bail out financial companies, according to Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program.

I had to read the title twice, after I picked myself up off the floor, used my inhailer, and counted to 10...
$23.7 Trillion folks..not Billion..Trillion..Unbelieveable..
If my math is right, thats about 80 grand each...I dont know about any of you, but I want some answers, and I want them now!@!!
Now I know why Obama won't release the budget until after Aug. recess.
"We the people" will be just an ole saying, if "We the people" don't stand together, and be heard..and I dont mean by contacting your congressman..
"They the people" are NOT listening anymore.

www.bloomberg.com...
thehill.com...
market-ticker.org...!.html


[edit on 20-7-2009 by MissysWorld]

[edit on 20-7-2009 by MissysWorld]

[edit on 20-7-2009 by MissysWorld]

We the people ... have just been screwed.
23.7 Trillion? SERIOUSLY .... OMG ....
The 'elected officials' are all traitors to this country.

in the last week or 2 more and more people have started to question WTH is going. Critical mass is building.

I seem to recall a 700 billion dollar bailout and I believe there was a trillion dollar bailout, but where did the other 20 something trillion come from?

The article is rather short on details.

reply to post by jam321


It seems that is what he is trying to get to the bottom of.

It could be a case of just throw out a very large number to get people to take notice, but I wouldn't put it past our gov to put us in the hole 24 trillion dollars through illegal channels.

Here is another article:

Watchdog sees huge U.S. bill for banks bailout

Financial bailout's cost to U.S. could total almost $24 trillion

www.msnbc.msn.com...

I have to try to be careful with my words right now, I dont want to get banned from ATS, but my fingers want to start cursing out the keyboard until the sun goes down.

Can that number be right? It cant be. If it is..Im going to start getting my escape route planned. Thank god I already have bars on my windows.
The vulchers are here.

If I never hear from any of you again...it was good talkin to all of you since I been here. You all gave me lots of good information that mean absolutely nothing now, except for the survival threads.

edit-spelling.



[edit on 20-7-2009 by Common Good]

reply to post by MissysWorld


Fun Fact #999999 - We are all slaves now. Seems I remember a constitutional amendment that made that illegal....mentions something about involuntary servitude....

I hope everyone if finally waking up. There are no real political parties in this country, there is but one agenda, and that is keeping us scared and relying on the government to "save" us.

Don't be surprised if there is some big disaster in the very near future that will be used to scare everyone back into line. Maybe a terror threat, a terror attack, some new, deadly outbreak of a virus....anything that will shift focus from the current treasonous actions of the government.

Don't know about anyone else, but I'm done playing the part of the livestock for these goons.

Yes the numbers are real, but not getting enough attention by the government and neither the people.

I posted about 1 month ago the real deficit numbers, not much attention the thread had, because still people in the nation are clinging to hope and change.

Sad but we are heading for the biggest downfall this nation have ever seen and with not way to recover.

News flash:The FED have a giant cheque book...the only limit to what they can print is the space in the amount line.The sooner people understand that they dont owe money to anyone and that the FED are nothing but gangsters and thugs creating money out of the ether the better.

reply to post by MissysWorld


You know what they could do? With all that money.. For the people getting foreclosed on, they can take the money and just stack it into homes for them. That should be pretty effective IMO

WOW i know i could sure use 80 grand, how bout all of you... i bet we dont see this on cnn/msnbc/fox at all... f*ckin disgusting... what do we do now? 80 grand they could give to every person in the country.. but they gave it to the banks and corp.'s WOW

Thank you, Obama voters. You and your petty hatred for Bush have destroyed this country. You have destroyed all of us. Was it worth it?

You know, 80 grand would solve a good amount of peoples debt problems. Instead they are burying us in debt and saying the government needs to control more of our lives.

You know maybe if they would keep their hand out of the cookie jar we wouldn't have as many problems as we have right now.

reply to post by sos37


Yeah because we all know that the republicans really opposed the bailouts right? Oh right, Bush started them and McCain voted for it. Yeah. McCain really would of broken the trend wouldn't he?

alex jones has been saying this for weeks...seems he was right

Originally posted by Miraj
reply to post by sos37

 

Yeah because we all know that the republicans really opposed the bailouts right? Oh right, Bush started them and McCain voted for it. Yeah. McCain really would of broken the trend wouldn't he?

How the Senate voted on bailout bill The Associated Press

Following is the 74-25 roll call by which the Senate approved a $700 billion rescue package for Wall Street aimed at preventing a credit crisis.

Voting "yes" were 39 Democrats, 34 Republicans and one independent. Voting "no" were nine Democrats, 15 Republicans and one independent.

www.newsday.com...

And now 9 months later, "We The People" owe $23.7 Trillion=$80,000 EACH, wether you be Democrate or Republican. Our Goverment went bankrupt months ago, but as I speak, the House & Senate are approving more spending bills daily,at a very fast rate..All being paid for with money they don't have! Everyday, I am shocked by what I see on C-span, between the Dems and the Reps. July 19th-700 Million dollars for "Restore Our American Mustangs Act"??????
www.ketknbc.com...
Are you freaking kidding me???? These ppl need to be booted..every damn one of them! And on top of all that we now owe, all that we are in debt to China for, Obama insists we overhaul the Health Care system in 2 weeks...These people, including Obama, are complete, and utter morons, who don't have ANY idea how the real world lives, day to day, and somewhere down the line WE started working for THEM, not them working for us.."We The People" are no longer being represented, "We the People" are being used, abused, walked on, spit on, laughed at... And "We the People" deserve it for being lazy, and NOT holding these morons accountable, even if they be our own President!!!
If the table dosent turn soon, the only thing "We The People" will find around that table, is their Family..starving.

Originally posted by sos37
Thank you, Obama voters. You and your petty hatred for Bush have destroyed this country. You have destroyed all of us. Was it worth it?

All this done within less than a year. What new suprises could our future hold? If Obama and Pelosi's House,stopped spending right now .... Yeah right...just like they are going to stop spending. There has to be more to the takeover,we still have education reform and life insurance for them to pilfer...We are so screwed right now,it's revolting....now there's a thought!!!

Originally posted by daddyroo45

Originally posted by sos37
Thank you, Obama voters. You and your petty hatred for Bush have destroyed this country. You have destroyed all of us. Was it worth it?

All this done within less than a year. What new suprises could our future hold? If Obama and Pelosi's House,stopped spending right now .... Yeah right...just like they are going to stop spending. There has to be more to the takeover,we still have education reform and life insurance for them to pilfer...We are so screwed right now,it's revolting....now there's a thought!!!

Daddyroo you are absolutly right! And people arent going to know how "revolting", until they go to their ATM, and their cards dont work, or they go to the grocery and it's closed because the Goverment refused to help CIT, which provides $ to small business to make payroll..
People by and large, do not give a crap right now, most havent even taken notice of whats been going on around them..Just look how many people came to this thread..not many..so I guess it's okay that we all now have to pay $80,000...
My personal view is this...Our economy fell and broke months ago. Our Goverment has been printing money like crazy, to prop up our ecomomy, to make it "Appear" that all is well. It's a delusion. All is not well.
I have spent 9 months, preparing dehydrated foods, stocking up on dried goods, and paying off my debt completely. And there are millions of others who are doing the same because they believe, just as I do. And when Humpty Dumpty finally shows all his cracks, those who would not listen, those who did not care, will be those begging at our doors for food. That is when we will see just who believes in "Change". Sometimes what you wish for..you get. It's just not the kind of "Change" you expected....

Originally posted by sos37
Thank you, Obama voters. You and your petty hatred for Bush have destroyed this country. You have destroyed all of us. Was it worth it?

Uhm, Bush was in charge when the first big bailout happened. And I believe Repubs & Dems BOTH voted for it.

So, yeah, thank the people who voted for anybody that supported ANY of the bailouts. Not just the ones after Obama got elected.

I voted Baldwin. He supported NONE of the bailouts. This is what he had to say about the first 700 BILLION DOLLAR BAILOUT: www.chuckbaldwinlive.com...