Government Watchdog: Bailouts Could Rise to $23 Trillion Dollars

I have previously pointed out that “independent experts say that total government spending [for the bailouts] could rise to $20 trillion dollars.”

Now, the government’s own watchdog over the various bailout efforts – the special inspector general – says that that number could be $23 trillion dollars in a worst-case scenario.

Treasury argues that that amount will not really be spent, because the worst-case won’t happen.

But given that Treasury used “worst case scenarios” for the stress tests that we’ve already surpassed, does that argument have any credibility whatsoever?

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