Is the Greece Bailout Big?

Does hearing about another $957 billion in bailout money make you cringe? Bailouts were yesterday’s news. In fact, I don’t even remember what the total U.S. bailout is. As reference, I needed to check Bloomberg to determine we’re passing $3.8 trillion in bailout funds (with many additional trillions committed).

U.S. Bailout

                                  --- Amounts (Billions)---
                                   Limit          Current
===========================================================
Total                            $11,623.63     $3,800.18
-----------------------------------------------------------
 Federal Reserve Total            $7,565.63     $1,478.88
  Primary Credit Discount           $110.74        $65.14
  Secondary Credit                    $0.19         $0.00
  Primary dealer and others         $147.00        $25.27
  ABCP Liquidity                    $152.11        $12.72
  AIG Credit                         $60.00        $37.36
  Net Portfolio CP Funding        $1,800.00       $248.67
  Maiden Lane (Bear Stearns)         $29.50        $28.82
  Maiden Lane II  (AIG)              $22.50        $18.82
  Maiden Lane III (AIG)              $30.00        $24.34
  Term Securities Lending           $250.00       $115.28
  Term Auction Facility             $900.00       $447.56
  Securities lending overnight       $10.00         $5.59
  Public-Private Investment Fund  $1,000.00         $0.00
  Term Asset-Backed Loan Facility $1,000.00         $0.00
  Currency Swaps/Other Assets       $606.00       $417.86
  MMIFF                             $540.00         $0.00
  GSE Debt Purchases                $600.00        $33.58
  Citigroup Bailout Fed Portion     $220.40         $0.00
  Bank of America Bailout            $87.20         $0.00
-----------------------------------------------------------
  FDIC Total                      $1,551.50       $400.30
   FDIC Liquidity Guarantees      $1,400.00       $261.30
   GE                               $139.00       $139.00
   Citigroup Bailout FDIC            $10.00         $0.00
   Bank of America Bailout FDIC       $2.50         $0.00
-----------------------------------------------------------
 Treasury Total                   $2,206.50     $1,621.00
  TARP                              $700.00       $387.00
  Tax Break for Banks                $29.00        $29.00
  Stimulus Package                  $168.00       $168.00
  Stimulus II                       $787.00       $787.00
  Treasury Exchange Stabilization    $50.00        $50.00
  Student Loan Purchases             $60.00         $0.00
  Citigroup Bailout                   $5.00         $0.00
  Bank of America Bailout             $7.50         $0.00
  Support for Fannie/Freddie        $400.00       $200.00
-----------------------------------------------------------
HUD Total                           $300.00       $300.00
  Hope for Homeowners FHA           $300.00       $300.00

Moving on to Greece…

Greece’s GDP is $356 billion; compared to U.S. GDP of $13,840 billion. Their bailout package is nearly triple their GDP. Now I understand why they’re rioting.

GDP and Bailout Size - Greece versus United States

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