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$4.28 trillion dollars. That’s $4,284,500,000,000 and more than what was spent on WW II, if adjusted for inflation, based on our computations from a variety of estimates and sources.

Not only is it a astronomical amount of money, its’ a complicated cocktail of budgeted dollars, actual spending, guarantees, loans, swaps and other market mechanisms by the Federal Reserve, the Treasury and other offices of government taken over roughly the last year, based on government data and new releases. Strictly speaking, not every cent is directed a result of what’s called the financial crisis, but it arguably related to it. read the rest at CNBC

Figures released on Sept 2008 shows that Japan, not China owns most U.S. Debt.

Figures from July 2007 to July 2008 can be seen here.

From Forbes Magazine [LINK]

Each month, the Bureau of Labor Statistics gathers 84,000 prices in about 200 categories to form the Consumer Price Index, one measure of inflation. It’s among the statistics that the Federal Reserve considered when it cut interest rates on Wednesday. The categories are weighted according to an estimate of what the average American spends.

[Link]