12 April 2009

The business of America

According to CNN/Money.com's bailout tracker I checked just now, the princely sum of $182 billion has been committed by the US to AIG.

By contrast, the 2008 federal budget included these funding levels for the following agencies:
  • Dept of Health & Human Svcs $69.3 billion
  • Dept of Veterans Affairs $39.4 billion
  • Dept of Homeland Security $34.3 billion
  • Dept of Education $56.0 billion
Yes, I realize there are other government agencies, such as DoD at $481.4 billion, exclusive of the wars in Irag and Afghanistan... in all, it adds up to a $2.9 trillion budget.

But then again there is another $245 billion for Citigroup, not counting all of the other Fannies, the auto industry, the works. In all it totals $6.2 trillion committed, of which $1.5 trillion has been invested. This also excludes the $700 billion TARP.

As Silent Cal said, the business of America is business.

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