Bloom(Ice)berg

Monday, Mar 30, 2009

The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

Bloomberg: Financial Rescue Nears GDP as Pledges Top $12.8 Trillion, Mark Pittman and Bob Ivry, March 31, 2009, http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4.