$1 Trillion. Yes, that’s a “T”.

Today, the Fed decided it would offer up $100 billion to buy up debt from Fannie, Freddie, Ginne, and hopefully me. (Grad school was expensive!)?? In addition, “The central bank also launched a $200 billion facility to support consumer finance, including student, auto, and credit card loans and loans backed by the federal Small Business Administration. This will lend to investors who hold securities backed by this debt.”

In addition to that Congress is expected to have a $500 billion stimulus package ready to go by the time President-elect Aitch (We called Bush “Dubya” so I’m just trying to get ready for Obama’s nick name.) gets to office.

In addition, we have a possible Detroit bailout, the addition of more funds to Citibank, and throw in a possible auto industry bailout and what do we have?? Well if all my additions are correct, $1 Trillion dollars deficit next year. ?Yes, like the title says, that has a “T”.? So they spent all the money they took from us in taxes and then the Fed is handing out freebies in the neighborhood of $1,000,000,000.? (Zeros are?for effect).

Look, I completely understand throwing someone a bone.? Maybe they left their wallet at home and need ten bucks to go get something to eat.? We didn’t agree to go into debt an additional ONE TRILLION DOLLARS though.? I mean, seriously?

-nick