$700 Billion From Bloomberg.
Let's do some addition.
$450 Billion - deficit already.
$1,350 Billion - for the Wall Street Bailout ($1.2 Trillion bailout + $150 Billion in Pork) see update
$25 Billion - in Auto Loans (enacted not the new proposed)
$0 - No tax hikes on those evil rich people
$700 Billion - for stimulus
$2.525 TRILLION Deficit next year
And this doesn't count the other likely effects.
($?? Billion) - Lower Tax revenues from weaker economy
$50 Billion - Detroit bailout
Wonder if that will effect interest rates for the government to borrow 1/6th of the entire US economic output?
Whoops, I should have finished the entire article before posting. It's even worse!
The incoming administration may also enlarge the $700 billion financial-rescue fund enacted last month. It may surge to perhaps $1.2 trillion, said Martin Baily, who served as White House chief economist under Clinton and is now at the Brookings Institution in Washington.