How much money has the U.S. government spent or loaned out since September?
Congress passed in early October a $700 billion bailout plan that gave the Treasury Department sweeping powers to buy distressed assets and keep banks afloat. About half of that money has already been loaned out. The government also has injected $45 billion into a large bank, Citigroup, and $150 billion into a large insurer, American International Group. On Tuesday, the Federal Reserve and the Treasury Department announced the latest round of spending, to the tune of $800 billion. One program would lend some $200 billion to holders of securities backed by consumer loans such as credit card loans and auto and student loans. The other program would spend up to $600 billion buying mortgage-backed assets from government-sponsored lenders such as Fannie Mae and Freddie Mac. President-elect Barack Obama and the Democratic-controlled Congress also have promised to pass a major stimulus plan that could cost $300 billion or more. Q: How much of that money won’t be repaid? A: So far, as much as
