Time for another transfusion

Time for another transfusion

The ginormous American banking conglomerate Citigroup became the latest failing corporation to recieve a massive financial bailout from US taxpayers this week, as Treasury Secretary Henry Paulson approved a plan to inject $20 billion into the struggling firm.

This comes in addition to the billions Paulson has already used to bailout the giant insurance group AIG and nationalize mortgage firms Freddie Mae and Freddie Mac, and comes in anticipation of a huge bailout of the “big three” American automakers. And I’m sure there’s more where that came from.

Now I realize the American treasury is incomprehensibly enormous, but isn’t there some finite limit on how much money the government can spend on all these bailouts? Politicians of both parties have yet to give a good answer on what existing government programs are going to have to be cut in the aftermath of all this.