Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“That men may rightfully be compelled to submit to, and support, a government that they do not want…No principle … can be more self-evidently false than this; or more self-evidently fatal to all political freedom … a man, thus subjected to a government that he does not want, is a slave. And there is no difference, in principle — but only in degree — between political and chattel slavery. The former, no less than the latter, denies a man's ownership of himself and the products of his labor; and asserts that other men may own him, and dispose of him and his property, for their uses, and at their pleasure.”     Lysander Spooner

December 2, 2008

Bailout, In Spreadsheet Form!

by Brad Warbiany

Lance over at QandO posted this, and it really puts the scope of the thing into perspective when you have it in line-item form:

Just where is all this money going to come from, anyway?

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  1. Brad, I just crunched some numbers and will post something on this later this week.

    It looks like much of the amount is being borrowed. U.S. treasury debt was increasing along a pretty smooth curve until September 15th or so. Then the slope gets much steeper. If the U.S. government hadn’t ramped up borrowing and stuck to the original curve, it would have borrowed 850 billion dollars less than it actually has.

    In other words, in the past two and a half months, the U.S. government borrowed nearly a trillion dollars above and beyond what it was expected to. I am going to try to figure out how much of this debt was purchased by the Federal Reserve with newly printed money and how it affects the total money stock.

    Comment by tarran — December 3, 2008 @ 6:48 am
  2. tarran,

    I’ve seen the graph you may be speaking of… Fed balance sheet was sitting somewhere around $900B, and it’s since spiked probably well over $2T (still waiting on data to support that number though). It had jumped from the $900B up to $1.6T in a day or so, which is the drastic spike shown in the fed chart that I’m sure we’re both referencing.

    Comment by Brad Warbiany — December 3, 2008 @ 9:21 am
  3. Actually, no. I looked at daily U.S. debt numbers as reported by the Treasury.

    I haven’t even started looking at the Fed’s numbers yet.

    Comment by tarran — December 3, 2008 @ 11:51 am

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