It is just stocks and flows, nothing that complex when one understands the nature of money as simply a scoring system, not something tangible. Every positive entry requires a negative entry in another sector, making every liability of government someone else’s asset in the non-government sector. If you put a liability and an equal asset together they balance to zero.

The government essentially bought every at-risk mortgage in America with its ability to create money. It just didn’t bother to take possession of them as an agent of the people. My original point wasn’t even about the amount of the bailout and I stated that some believe it to be “as much as” $29 Trillion, although the econ dept at Stony Brook are not pikers and specialize in exactly the topic at hand, the methods used by government in creating money. The point you entirely missed was the mechanism the system used to inject that much into the private sector with no resulting inflation or other economic consequences. I then made a comparison of that to the very real threat now facing us and the seeming reluctance to admitting that we have options we refuse to explore because of economic myths and the lack of any political will to protect the people.