Out of the original $700 billion, only $109.6 billion is left in the government's financial bailout fund.
The Treasury Dept. expects the fund tol be boosted over the next year by about $25 billion as institutions like Goldman Sachs pay back the fund. That would bump the total up to $134.6 billion, still relatively small when looking at the situation.
The details behind the numbers of the bailout were made available in a letter from Treasury Secretary Timothy Geithner to Elizabeth Warren, the head of the Congressional Oversight Panel. A letter...who writes letters these days? At least use some email, no wonder the government is so inefficient.
The Treasury has already given over $115 billion to AIG, Citigroup, Bank of America and the automakers. Now it's looking like they will need more. The $109.6 billion is what's left to provide additional funds to the auto companies and deal with any of the nation's largest banks found to need more cash after the "stress tests" are completed at the end of this month. That's ALL that's left at this point, unless an emergency bailout bill gets sent to congress and somehow passes...
The Obama administration already tried to get more money in a bill sent to congress requesting $750 billion, but lawmakers said there's no way they'll approve boosting the fund. Thank goodness... We're in huge amounts of debt and trying fix it by spending more money...this seems a little backwards to me. I agree that you need to help out the banks to ensure there isn't massive failure, but how is the US government going to pay all this money back when there's additional money needed for social security, pensions and actually running a government.