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Economic rescue could cost $8.5 trillion

Just last week, new initiatives added $600 billion to lower mortgage rates, $200 billion to stimulate consumer loans and nearly $300 billion to steady Citigroup, the banking conglomerate. That pushed the potential long-term cost of the government's varied economic rescue initiatives, including direct loans and loan guarantees, to an estimated total of $8.5 trillion -- half of the entire economic output of the U.S. this year.


Published Dec 01 2008, 11:01 AM by OhMyGov! |  Email |  Print



Comments

RA said:
I suspect more than that but it's all in vain because the house of cards collapses anyway, as soon as Europe, Asia and the Mideast settle on a new world reserve currency. Maybe a revamped Euro or a basket of currencies. Duck and Cover.
December 1, 2008 6:57 PM

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