The Debt Goes Up and the Beat Goes On, La De Da De De, La De Da De Da
Posted in National stories
Dec. 16, 2008 at 11:47
by BrendaBee
The receipts are coming in and being added up by numbers crunchers and the picture ain't pretty. Our Congress and President Bush have flashed the tax payers credit card to the tune of $8.7 TRILLION to date. And this is only the beginning because when Obama gets into the action he promises even more gigantic "stimulus packages". We are witnessing a government gone mad with apparently no way to stop them. Certainly tax payers can't do it with emails, letters and phone calls as we learned when this snow ball started down hill with the $700 billion bail out of banks was in the works and tax payers actually overwhelmed and shut down the Capitol's and White House switchboards with calls of protest to no avail.I don't know how you feel but I am just watching in heartsick dread as our leaders lead of from bad to worse and then beyond. The following article gives an outline and some facts about the spending frenzy to date that you may find of interest if you are trying to keep score.
Headlines: Bailout payout tops $8 trillion
By JEANNE CUMMINGS | 12/16/08 4:41 AM EST
"The New Deal, for instance, cost an estimated $32 billion in its day, which would be about $500 billion in today’s dollars. The Marshall Plan cost about $12.7 billion, which is the equivalent of a paltry $115.3 billion. The Louisiana Purchase? The French got $15 million, which would be worth about $217 billion today.
If you take those three items, add in the adjusted costs of the Race to the Moon, the savings and loan crisis, the Korean War, the Iraq war, the Vietnam War and assistance for NASA, you still get to just $3.92 trillion — not even half of the taxpayers’ exposure today...."
"There is a bright side, sort of. Only about $2.9 trillion of the government money, loans and guarantees have actually been spent or committed."
After this great start the article goes back to the MSM hipe that this all was necessary to keep the country from "going into a depression that would make the Great Depression look like a hiccup". I agree about the hiccup part since I have been saying this for years as I and many others saw this day coming. We were flying too high not to crash land. And no matter how bad it gets the yea sayers can always claim it could have been worse as this is a safe statement because there will be no way to prove otherwise. In the meantime we who are making this huge debt have the very good fortune of not having to pay it and most of us will be dead when the tab really comes due so we won't have to suffer any hardship nor will we have to hear our progenity railing at us fopr our stupidity and greed. BB
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