Q: I thought the bailout was only $700 billion, but the Bailout Watch application totals the bailout in the trillions. Is Bailout Watch correct?

A: Yes it is. The $700 billion dollar number focused on in the media refers to one specific portion of the overall bailout known as the Troubled Asset Relief Program, or TARP, which was initially used to buy up mortgages and other debts from banks. It was later extended to offer loans to U.S. automakers. The TARP is probably the most visible face of the bailout because it has strict reporting, so it's much easier to tie each dollar to its recipient. Many of the other facets of the bailout, some of which are considerably larger than the TARP, are not only more complex in nature but also more secretive in regard to who is getting money. But just because they're complex and underreported doesn't mean they should be ignored, which is why the Bailout application lists them.

Q: How often does the Bailout Watch application update its data?

A: There is no regularly scheduled update - we update the data as soon as new bailout numbers are published by reliable sources. Throughout the bailout thus far, events affecting the data have occurred about every week or two.

Q: Some of the numbers reported in the Bailout Watch application don't match numbers I've seen in other places. Not only that, the application reveals some bailout programs I've never even heard of. What gives?

A: The truth is that the bailout is a somewhat vague and constantly moving target that no one person or entity can truly measure with perfect accuracy. Some areas of the bailout are strictly reported and accounted clearly, while others are not. We've made an exhaustive effort to assemble the most reliable and timely data possible. We've also tried hard to go beyond the portions of the bailout that get the most attention and reveal some of the programs you don't hear about much. We feel strongly that this is the only way to truly gain perspective on the bailout as a whole.

Q: Some of the programs mentioned in the Bailout Watch application include tax cuts. How can tax cuts be considered part of the bailout?

A: While it's true that legitimate tax cuts to individual Americans could potentially be excluded from the bailout numbers, some of the tax cuts included in the bailout are targeted at the very businesses who are already direct recipients of bailout money. And for the tax cuts that do target individuals, we opted to include them because the intent of the cuts is solely to revitalize the economy. In other words, they aren't necessarily permanent. Besides, temporary tax cuts in this climate of massive national debt and record budget deficits is more akin to a loan from future generations than a true tax cut.

Q: Is all of the bailout money coming from U.S. taxpayers?

A: No, not necessarily, at least not initially. While huge portions of the bailout are certainly being funded by American taxpayers, some components of it are not. For example, the $1 billion Federal Credit Union Capital Injection is being paid for by an insurance fund set up by the credit union industry. However, there is pressure to extend taxpayer-funded bailout money to corporate credit unions, so the picture could very well change over time.