The Christian Science Monitor says the federal government has committed $11.3 trillion to recovery efforts. It’s spent about $3 trillion so far.
I’ve not heard anything close to that number before. They have a nice graphic and a breakdown of how they came up with that number. To be fair, much of it will only come due if disaster strikes. For instance, the Federal Reserve will actually make as much as $1.8 trillion when some of its 90-day loan notes come due.
Still, the federal government is spending a whole lot of money that we don’t have.