Answer: $23.7 trillion
Neil Barofsky, the Special Inspector General of the Troubled Asset Relief Program filed an official SIG TARP report in July 2009 projecting the government’s “Total Potential Support Related to Crisis” at an astounding $23.7 trillion.
Barofsky’s report was immediately criticized as being misleading in its characterizations, prompting him to respond on May 12, 2014 to one of the chief critics, Tim Geithner, who was Secretary of the Treasury during the crisis years.
The SIG TARP report did not say that the government might “lose” $23.7 trillion, as critics claimed.
Barofsky: “What the report actually ascribes to that number (at page 138) is the “Total Potential Support Related To Crisis” (and not potential losses) of the myriad pledges of support to the financial system from an alphabet soup of agencies and programs. The numbers underlying that estimate, of course, were provided to us by Treasury and other governmental agencies, the report was vetted with Treasury before it was issued, and the report makes clear in a series of caveats that it was not an estimate of actual potential losses.
Again, the U.S. government’s “Total Potential Support Related to the Crisis” weighed in at $23.7 trillion.
The effects of that “support” for main street America have been marginal, with the best of it short-lived.
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The Leviticus 25 Plan provides for a Citizens Credit Facility to serve as the conduit for direct liquidity access by U.S. citizens – the same direct of access that was granted to Wall Street financial heavyweights during the crisis.
The Leviticus 25 Plan will provide for massive ‘ground level’ debt elimination and restore financial health for millions of American families. Money would still flow into the banking system – after first passing through the hands of U.S. citizens and the millions of small businesses in main street America.
The Leviticus 25 Plan would re-ignite powerful, long-term economic growth and put America on track for substantial budget surpluses. It would drastically scale back government control over the daily affairs of citizens. It would restore basic social freedoms and economic liberty for all.
Question: What would be the U.S. government’s “Total Potential Support Related to The Leviticus 25 Plan?”
Answer: $21.6 trillion – all of which would get ‘repaid’ to the government over a 10-15 year period.
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$90,000 per U.S. citizen – Leviticus 25 Plan 2022 (3764 downloads)
It is time for an economic recovery plan that grants access to liquidity for all Americans, not just Wall Street and the wealthy ‘elite.’