US taxpayers will bear the brunt of increased government financial rescue packages.

US congressional budget analysts said the net cost of government bailouts to taxpayers is now US $356 billion, an increase of $167 billion from earlier estimates.

The additional costs were outlined in the Congressional Budget Office's (CBO) March projection of an US $1.8 trillion deficit for fiscal 2009.

The CBO said cost projections increased due to changes in financial market conditions, new transactions and a shift in the expected timing of payments.