Bailout cash drying up

It doesn't take long to burn through $350 billion, as the federal government has demonstrated over the past month.<

Only - a strange word to use when you're talking billions - about $60 billion is left of the original $350 billion first installment of the economic bailout money.

The government spent $250 billion for direct stock purchases from banks and $40 billion for a new loan six days ago to help shore up insurance giant American International Group.

Two days after injecting billions into AIG, Treasury Secretary Henry Paulson said officials are scrapping the original bailout plan and are trying to come up with ways to stabilize not only banks but also credit card, auto loans and other non-bank businesses.

The original plan was for the government to buy up toxic mortgages, thus making the private foolishness of lenders the taxpayers' problem.

That won't work, Paulson said. Things are deteriorating too fast, and the government needs to quickly lube the economy with tax dollars.

Bailout cash drying up