Mittwoch, 8. Oktober 2008

700 Billion and “nice” surprise for tax payers


Where did bailout money come from, because 700 billion, is not peanuts. The chart below, by FED, shows the interesting relationship of the “outstanding Supplementary Financing Program Bills” and “Change in the Fed’s Balance Sheet”.
From Bank of America, again:


In other words, it seems like the FED are getting additional “700 billion” for the bailout, by borrowing for a long period of time. When the US government decides to bailout banks, car manufacturers, and those who took out mortgages on homes that they could not afford, where does that money come from? The money would also be coming from tax payers, that’s the thing. President Obama says that he will only raise taxes on those with incomes of over $150,000.00. I think in the beginning of his campaign he mentioned $200,000.00. Now that there are more corporations that need money that dollar amount is beginning to shrink.

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