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In his 1996 State of the Union address, President Bill Clinton announced, “The era of big government is over.” Beginning in 2008, the era of big government bailouts began.

By some estimates, the U.S. government and the Federal Reserve Bank have spent, or committed to spend, $12 trillion to try to stabilize the financial system and revive the economy. The unprecedented scale of such governmental intervention speaks to the enormous scope of the economic and financial crisis.  more »