In December, Bloomberg News revealed the existence of a second bank bailout program, separate from the well-know TARP bailout; one kept secret from legislators and the public, which totaled $7.77 trillion in lending limits and loan guarantees. The US government did not spend the full $7.77 trillion bailing out banks for a second (or third...or fourth...) time; that amount was the maximum allowed under the program. And most of the loans have been repaid or are in the process of being repaid.
However, the $7.77 trillion figure undoubtedly made headlines, an incredibly large number hard to fully grasp, one not helped by the secrecy of the program or the fact that struggling banks reaped a profit from these federal loans. Below are two infographics which try to put that incredibly large number the government is willing to loan out to our banks in context.
• $7.77 trillion bailout
• Estimated Cost of War in Iraq ($3.2 trillion)
• FY 2011 Federal Budget Deficit ($1.3 trillion)
• Projected Cost of Obamacare 2012-2021 ($1.13 trillion)
• Total Outstanding Student Loan Debt ($1 trillion) (additional)
• TARP Bailout ($700 billion)
• 2011 Walmart Net Sales ($419 billion)
• Distance to Moon
• Height of dollar bill