2008 Bailouts Exceeds Combined Costs of All Major U.S. Wars
Yes I know, I know that Barack Obama has more bailouts to add to the already growing list. Yes I know that its 2009 and Obama and the democrats are still spending billions of dollars on their great give away!
This great give away of Obama’s is no different than if a crook got into your personal bank account and started giving your money away. “Smile and spend boys, smile and spend”
The total value of the bailouts undertaken by the federal government in 2008 now exceeds the combined cost of every major war the United States has ever engaged in.
According to CRS, all major U.S. wars (including such events as the American Revolution, the War of 1812, the Civil War, the Spanish American War, World War I, World War II, Korea, Vietnam, Iraq and Afghanistan, but not the invasion of Panama or the Kosovo War), cost a total of $7.2 trillion in inflation-adjusted 2008 dollars.
The bailouts could put U.S. taxpayers in a tough spot in the future, said Pete Sepp, spokesman for the National Taxpayers Union. Read More
If Obama and the democrats gets their way on this bail out our children and grandchildren and maybe greatgrandchildren will end up paying the debt that is left for them. The left liberals and groups such as moveon.org and “pinkys” have been trying to scare the American people about the debt that Iraq will leave for our children, well they need to start complaining to Barack Obama and his big spending.
Kind of a funny article I’m reading. Two economists, one O’s new OBM director and the other O’s CEA chair, are on record as saying that “stimulus” plans like Obama’s don’t seem to work. Now, of course, the Obama has raised them up into the light, and they’re all gung-ho for the $800 billion in fresh debt.
Anyone will be for Obama stimulus plan for a billion or two dollars!
Something that’s remarkable about our troubles this time around is that the panic button is being hit so hard and so often. During last fall’s “credit freeze,” lending never stopped, and the only really alarming event — the run on money market funds — was stopped toot sweet by the FDIC’s expanding insurance coverage. Unemployment is presently right around where it was at the start of Clinton’s first term, when Congress decided to take a pass on a proposed jobs bill. Embedded in the last rundown of bad economic statistics are some encouraging signs. Not only is it not clear that more borrowing (meaning future high taxes) works as advertised; it’s not clear that it would be needed even if it did work. And I gotta say I blame George Bush, or at least his boy Paulson, for the pamicky atmosphere.
Several proposals in Barack Obama’s mammoth economic recovery plan will result in only modest or even uncertain benefits if they become law.
Says who? LINK: Obama’s Aids
Obama’s new mantra is,
“”Everybody’s going to have to give. Everybody’s going to have to have some skin in the game”
From George’s Bottom Line interview.
I have a post on this interview today.
Thanks,
riggword
More funny. Orzag, the new OMB director, headed the Congressional Budget Office until his appointment. Since changing jobs, his deficit predictions have gone from plausible to apocalyptic.
http://www.redstate.com/brianfaughnan/2009/01/13/obama-cooks-the-books/
So, what’s up? “… Obama is intentionally painting a doomsday scenario here — either to pave the way for huge tax increases, or to make himself look like a miracle worker even if things get much worse from here on out.”
A new high in lowered expectations.
I think you have that right, he is now lowing expectations as to cover for his inexperience!