Posted on 07/21/2009 1:03:03 PM PDT by Red Steel
Holy Toledo! More than the entire cost of all wars the U.S. has ever fought. More than the New Deal. More than the cost of sending a man to the moon. Almost twice the yearly gross domestic product of the entire United States of America.
That’s the possible cost of the 50 bailout programs to which the U.S. is now committed — $23.7 trillion — according to Neil Barofsky, special inspector general for the Trouble Asset Relief Program (TARP). The ranking Republican on the House Oversight and Government Reform Committee, Darrell Issa of California, points out that spending a billion dollars a day back to the birth of Christ would have added up to only $1 trillion. Barofsky’s report is expected to be delivered today to the House oversight panel.
If Congress ever needed a bucket of cold water on its over-heated passion for spending, Barofsky’s warning should provide it. Some Democrats representing districts where people earn enough to feel threatened by President Obama’s massive new spending proposals
(Excerpt) Read more at blogs.ajc.com ...
And you guys complained about Bush's spending. Small peanuts. Obama is showing you how it's really done.
nope.... the spending and debt has just begun for the empty suit that is all about destroying America....
>>>And it’s been only 6 months of the Obama administration.
Most of the plans covered under this $24T estimate were started under GWB - TALF, Fannie and Freddie bailouts, etc.
Please do not introduce facts into a thread that has great potential.
I caught that mistake too. A trillion is a thousand billion. There have been more than a thousand days since the time of Christ.
The Congress deals with US finances. The Dem lead Congress as of 2006. Bush not vetoing is bad yes. Blaming him outright is absurd. He’s been gone for six months.
Yeah that's right and Obama and the Dems are such innocent creatures. /sarc
Seven months and a day...
Yeah that’s right and Obama and the Dems are such innocent creatures. /sarc
I’m not letting Obama and Congress off of the hook, just providing a little clarity to comments such as “and he’s only been in power for 6 months”, which seem to place all of the blame $24T on Obama.
“Most of the plans covered under this $24T estimate were started under GWB - TALF, Fannie and Freddie bailouts, etc”
I’m sure the plans have been modified.
All I can remember under Bush was around $700B, half of which was deferred to BHO. A plan for $350B could be easily modified to $24T by Pelosi, Reid, and Obama.
“Most of the plans covered under this $24T estimate were started under GWB - TALF, Fannie and Freddie bailouts, etc”
I’m sure the plans have been modified.
All I can remember under Bush was around $700B, half of which was deferred to BHO. A plan for $350B could be easily modified to $24T by Pelosi, Reid, and Obama.
hope people are storing food and water!
Combustible material’s not a bad idea either. Modern people need heat. If for no other reason that to sterilize the water.
FM/FM were taken over by the Federal Reserve. TALF is also a FR program.
GWB wasn’t responsible.
TARP was his, but only 330 billion of it is being used. By the way, his proposal was three pages, what he got back from the Dems was 1400 pages.
Obama and the Dems own this mess.
Ah, yes. And what if Carl Sagan were to be on the Tonight Show today, would he have to change his "billions and billions" to "trillions and trillions"?
So what? We’ve got plenty of paper and ink, ain’t we??!!
Again, we sit convinced “our side” had nothing to do with it, and “our side” can fix it. We are well and truly screwed.
Here’s what I know: For my entire lifetime only the Republicans and Democrats have been in charge, and it’s been downhill no matter which one was in the majority.
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