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The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
“We’ve seen money go out the back door of this government unlike any time in the history of our country,” Senator Byron Dorgan, a North Dakota Democrat, said on the Senate floor Feb. 3. “Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?”
The $9.7 trillion in pledges would be enough to send a $1,430 check to every man, woman and child alive in the world. It’s 13 times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office data, and is almost enough to pay off every home mortgage loan in the U.S.
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I was against the first bailout and I'm against the 2nd, 3rd, 4th bailout.
As if it wasn't enough that out parents left us with a deflated Social
Security program, we are nowing leaving our children with the
Bailout/Stimulus burden.
I know Iraq is expensive, but the money used on Iraq at least is paying soliders, defense contractors, industry, health care, research etc and I know all the arguments against the Military Industrial Complex and believe me I agree, but at least the Military Idustrial Complex supports INDUSTRY! (not to mention it keeps us safe from the Commies) ... and seriously I'm not going to debate the pros and cons of the military industrial complex... you win, save your typing.
ReplyDelete$9.7 Trillion? For real? That's fucking crazy. I think it would be better if we did nothing.
ReplyDeleteObama actually said that we "will never come out of this recession" unless we pass more stimulus.
ReplyDeleteHope got changed to fear.
500 million more unemployed people every month!
I'm with Kojiro: "I think it would be better if we did nothing."
ReplyDeleteOr we could just spend a reasonable amount of money on very important things (unfreezing credit, etc.)
Great article about Dr. Doom:
ReplyDelete'Doom' talk scored as 'not presidential'
Ron Paul's take
ReplyDelete