U.S. spending against crisis almost as much as GDP

The government and the Federal Reserve have guaranteed, spent or lent $12.8 trillion to curb the economic downturn and stabilize the banking system. In comparison, the country's GDP was $14.2 trillion last year. President Barack Obama and Treasury Secretary Timothy Geithner met Friday with leaders of the nation's largest banks as well as industry representatives to garner their support. "The president and Treasury Secretary Geithner have said they will do what it takes," Goldman Sachs CEO Lloyd Blankfein said after the meeting. "If it is enough, that will be great. If it is not enough, they will have to do more."