By its own on-the-budget estimates, the Bush Administration has already spent over half a trillion dollars overthrowing Saddam Hussein's secular government and installing an Islamic theocracy in its place. The original cost of the transition was estimated to be $50 billion (Jan. 2, 2003). Political polls like to keep their margin of error down around 3%. Bush's margin of error was 1,000%
Now Bush wants to give Wall Street bankers nearly three-quarters of a trillion dollars. That will someday be referred to as "the original estimate."
Total mortgage debt in the U.S. is over ten trillion dollars.
Congressman Ron Paul says,
The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets at any one time. That means $700 billion is only the very beginning of what will hit us.
How Much Red Ink in a TRILLION? -- A Graphic Representation