Out of Control Policy Blog

What $12.8 Trillion Gets Taxpayers, Government Spending Update

Stimulus Spending and Loans Nears $13 Trillion

In February 2008, Congress and the Bush administration passed a stimulus and tax rebate bill to fight the developing recession. Since then, the federal government has put American taxpayers on the hook for nearly $12.9 trillion in spending, loans, and insurance for deposits and investments.

Here is the money spent on specifically fighting the recession:

Total: $12,886,700,000,000

* Note that in some of these expenditures, the taxpayer money going out is a loan that is projected to be repaid with interest. However, taxpayers are on the hook for this money regardless of whether or not the firms are actually able to pay it back. 

** Also note that the bailout money listed for banks does not include the TARP money have received in addition to the specific bailout funds.

Anthony Randazzo is Director of Economic Research


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