Shortly after I told you that Bloomberg.com is reporting a running total of the money the U.S. government has pledged and spent for bailouts and economic stimulus, reporters Mark Pittman and Bob Ivry updated the totals: So far, $12.8 trillion has been pledged – an additional $1.2 trillion over the earlier report. The total disbursed through March 31, 2009 stands at $4.2 trillion. The Federal Reserve is still committed to providing the largest share at $7.8 trillion, followed by the U.S. Treasury $2.7 trillion and FDIC $2.0 trillion.
The national debt currently stands at $11.3 trillion — versus an authorized limit of $12.1 trillion. Spending, lending and bailouts by the Federal Reserve are not counted toward the limit.
This week, U.S. Treasury Secretary Timothy Geithner is in China. Mainland China holds $767.9 billion of Treasury securities at the end of March 2009 or about 7 percent of the total national debt. Japan, the second largest major foreign holder, has $686.7 billion.
Notes: Data from Department of the Treasury. Caribbean Banking Centers (Carib Bnkng Ctrs) include Bahamas, Bermuda, Cayman Islands, Netherlands Antilles, Panama, and British Virgin Islands. Oil exporters include Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria.
The U.S. bailout commitment of $11.6 trillion equals 89 percent of U.S. 2008 gross domestic product (GDP).
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