HOW MUCH EXACTLY is that 70 BILLION BAILOUT (to AIG) COMPARED TO 2 1/2 TRILLION that we owe CHINA and SAUDIS??
SEE PICTURE ABOVE. It has nothing to do with US DEBT but it's a pie chart showing what a lotta billions look like next to just 2.4 trillion.
The AIG bailout is supposed to be more like 85 billion but --same idea.That white splinter is the bailout to that ONE insurance company.
THE BIG RED PAC-MAN is the money we owe to other nations right now and are paying interest on! And no way we can pay it off. So the USA is in the position of a guy with a lotta maxed out plastic!
SO WHY BAIL OUT AIG? Cuz it's like the camel's first whisker. If you pull it, the camel really starts KICKING! So the 85 BILL is like whisker ointment to calm the whole camel down, get him to haul merchandise for a few more years.
HOW MUCH DOES the USA OWE SUM TOTAL? Well, to which side? There are so many sides! The USA borrows money from China and the SAUDIS. We owe Trillon's of Dolllars. HRE IS THE BREAKDOWN
$5 trillion is held by the public- mutual funds, money market funds, banks, individual citizens, as well as foreign individuals, firms, and central banks. (IMF .)
There is another $4 trillion that is held by various agencies of the US government- primarily the Federal Reserve. http://www.treasurydirect.gov/NP/BPDLogin?application=np
Of the $5 trillion, about $2 trillion is held by foreign entities http://www.fms.treas.gov/bulletin/b2007-2ofs.doc
STORMWATCH SITE says 48 TRILLION is owed by USA, quoting the FEDERAL RESERVE -- We now that our grandkids will be paying it off in huge taxes, no public services. AND USA may pay off their share cutting SOCIAL SECURITY for any senior with income.
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