I was reading the Fox News web site when I saw this headline:<\/p>\n
Watchdog: Financial Bailout Support Could Reach $23.7 Trillion<\/p>\n
\nThe total price tag for federal support stemming from the financial crisis could reach $23.7 trillion in the long run, the government’s top bailout watchdog says in a new report to Congress.<\/p>\n<\/blockquote>\n
Let’s look at that $23.7 TRILLION dollars. How much money is that? That is about 20 times more then it cost all the hostile nations to fight World War 2. ($1.5 trillion)<\/p>\n
To continue…<\/p>\n
\nNeil Barofsky, the inspector general for the Troubled Asset Relief Program, plans to deliver his report Tuesday to the House Oversight and Government Reform Committee.<\/p>\n<\/blockquote>\n
Fat lot of good that will do. Nothing phases THOSE tax fattened hyenas!<\/p>\n
\nThe $23.7 trillion figure is admittedly a high-ball number and reflects the total potential gross exposure, but Barofsky in his prepared testimony notes that the TARP — which started as a $700 billion bailout — has expanded well beyond that.<\/p>\n<\/blockquote>\n
So, it might not be $23.7 TRILLION dollars? How much then? $20 trillion? Gee whiz, why don’t they just say it’s going to cost ALL the money we make for the next 2-3 years? Unless they decide to monetize the national debt.<\/p>\n
“Monetize the national debt, you ask? What does that mean?” basically, the fire up the printing presses and print huge amounts of currency. Yes, they will pay off the debt, but the money will be worth less then toilet paper. The term for this is “hyperinflation” my young padawan.<\/p>\n
To see what the results of this are, look up the Wiemar Republic<\/a> in the 1920’s or Zimbabwe<\/a> today. The Wiemar Republic collapsed and brought about the rise of Hitler and the Nazi’s. We all know what happened then, (Or most of us who actually bother to open a history book these days).<\/p>\n
More from our friends at Fox:<\/p>\n
“The total potential federal government support could reach up to $23.7 trillion,” the report estimates, factoring in commitments from “dozens of programs” implemented throughout the federal government since 2007.<\/p>\n
The estimate covers commitments that could come from programs at the Federal Reserve, Treasury Department, Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the Federal Housing Administration, the Department of Veterans Affairs and other agencies.<\/p>\n
It notes that the total “financial exposure” of TARP and related programs alone could reach $3 trillion.<\/p><\/blockquote>\n
So Obama baby, how’s that there stimulus working out for you. Feeling all nice and stimulated? Got a nice hard on? I’m sure that and a blindfold will work wonders the next time you feel the need to bump pelvis with Michelle. :p<\/p>\n
Next time, go to the drug store and get a bottle of Viagra. It’ll be a hell of a lot cheaper, or won’t that be covered under Obamacare?<\/p>\n
Back to Fox:<\/p>\n
“The potential financial commitment the American taxpayers could be responsible for is of a size and scope that isn’t even imaginable,” Rep. Darrell Issa, ranking Republican on the oversight committee, said in a written statement. “If you spent a million dollars a day going back to the birth of Christ, that wouldn’t even come close to just $1 trillion — $23.7 trillion is a staggering figure.”<\/p><\/blockquote>\n
Gee, Ya think? Maybe if the Republicans actually grew a pair and fought this pile of pork laden pig manure we might not be looking at the utter and complete collapse of not just the U.S. economy, but the economy of the entire world.<\/p>\n
In the report, Barofsky also says that the Treasury Department has “repeatedly failed” to adopt recommendations that his office believes will bring more transparency and accountability to the execution of the bailout.<\/p><\/blockquote>\n
Better watch out Mr. Barofsky, I hear the sound of a bus engine warming up.<\/p>\n
Do you want to know the really good parts? This doesn’t even take into account Porkulas 2. the seizure of the health industry and Cap & Tax.<\/p>\n
We hope all you morons out there who voted for Obama and his Marxist buddies are happy now. The odds of this nation surviving another 10 years have dropped significantly. It’s entirely possible, if not probable that in 2013 or 2016 the sitting president will walk into a joint session of Congress and announce that the United States is bankrupt, and that it is repudiating it’s debt.<\/p>\n
That is another can of worms we aren’t ready to deal with right now. So why don’t all of you try calling those idiots on capital hill and tell them to try actually reading <\/em><\/strong>the constitution for once?<\/p>\n
That is all!<\/p>\n
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I was reading the Fox News web site when I saw this headline:<\/p>\n
Watchdog: Financial Bailout Support Could Reach $23.7 Trillion<\/p>\n
The total price tag for federal support stemming from the financial crisis could reach $23.7 trillion in the long run, the government’s top bailout watchdog says in a new report to Congress. Continue reading