In today’s column, I mentioned briefly that the $1.2 Trillion (with a T as in Turkey) budget deficit reported today was without the recent stimulus and bailouts factored in. Read /br /SFO Magazine ran some analysis by market maven Jim Bianco in its current edition and the gist was that the government grants, loans and guarantees are practically more than the country has ever spent combined. Maybe I exaggerate but according to data compiled by Bianco, CNBC, Bloomberg and the Wall Street Journal the government is now on the hook for a potential $8.7 Trillion hickey, and I mean that in the vampire, not make-out, /br /Here is the link to SFO’s table on how deep we could be in the doo /a href=”” /br /Basically, its $5.1T for the Fed, $1.5T for the FDIC and $1.8T for the Treasurybr /br /Check this from the magazine about major purchases from the past and present:br /br /div id=”ctl00_ContentPlaceHolder1_Department1_pnlDetailPage” style=”text-align: left;”liMarshall Plan—$115.3 billionbr //liliLouisiana Purchase—$217 billion/liliRace to the Moon—$237 billion/liliSamp;L Crisis—$256 billion/liliKorean War—$454 billion/liliThe New Deal—$500 billion (estimated)/liliGulf War II/War on Terror—$597 billion/liliVietnam War—$698 billion/liliNASA (total cumulative spending since inception)—$851.2 billion/li/div–Grand Total: $3.92 trillionbr /br /Can we spend our way out of this mess? Let’s just fire up the money presses!