$800 billion more...

The Federal Reserve and the Bush administration announced today that they were injecting an additional $800 billion into the banking system to try to spur consumer lending as well as mortgage financing.

Some stark numbers on the government's efforts to battle the financial crisis so far:

In the last year, the government has assumed about $7.8 trillion in direct and indirect financial obligations. That is equal to about half the size of the nation’s entire economy and far eclipses the $700 billion that Congress authorized for the Treasury’s financial rescue plan.

Those obligations include about $1.4 trillion that has already been committed to loans, capital infusions to banks and the rescues of firms like Bear Stearns and the American International Group, the troubled insurance conglomerate. But they also include additional trillions in government guarantees on mortgages, bank deposits, commercial loans and money market funds.