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PAUL LUCERO

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Member Since: 9/2008  Last Seen: 5/03/2012

9.7 Trillion in the Real cost of the Vote

Seeded on Mon Feb 9, 2009 9:55 AM EST
Read ArticleArticle Source: Bloomberg.com
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Seeded by Paul Lucero
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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., calculated at $10.5 trillion by the Federal Reserve.

'All the Stops'

"The Fed, Treasury and FDIC are pulling out all the stops to stop any widespread systemic damage to the economy," said Dana Johnson, chief economist for Comerica Inc. in Dallas and a former senior economist at the central bank. "The federal government is on the hook for an awful lot of money but I think it's needed to help the financial system recover."

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Paul Lucero

This situation is now insane!

  • 1 vote
Reply#1 - Mon Feb 9, 2009 9:58 AM EST
La'el

...almost enough to pay off every home mortgage loan in the U.S.

Odd isn't that the folks who actually work for a living and try to raise their families and pay their bills and feed their children, won't see a penny of this so-called “stimulus.”

Or rather, the folks who work won’t see a penny coming in; just all going out in the way of more taxes (to paid by ourselves and many future generations assuming it will be paid back at all) so the Obama Gang of Five (Plus) can take more from the not so rich and barely getting by to give to Nancy Pelosi’s , the Barney Frank’s, the Chris Dodd’s and the other indigent types on the left side of the Congressional aisle.

It’s Barackmas for liberals, and bankruptcy for those who have jobs. What a load of crap!

  • 1 vote
#1.1 - Mon Feb 9, 2009 10:29 AM EST
Reply
pjwrites

If one were a conspiracy theorist ;-) one might think that the banks (Fed Reserve) are trying to take over the world, mightn't one? (Is "mightn't" a word?)

La'el, surely you jest? Bush started this giveaway spree, just like his daddy did back in the late 80's and early 90's. When will you people get over this ridiculous partisan-ship B.S.? It's not rep vs dem anymore, it's citizens versus government now. We're getting our butts kicked right now and we're in trouble, reps and dems alike. It's time for us to start thinking like citizens.

And it's time for citizens to take action. Our founding fathers would be having a tea party right about now.

  • 2 votes
Reply#2 - Mon Feb 9, 2009 11:18 AM EST
Walter_Sobchak

pj, you are dead on. The government is populated with folks (D or R) who have no allegiance to anyone or anything except themselves.

For myself, I do not subscribe to conspiracy theories, but I think it is pretty obvious that Washington is now full of "leaders" who are actively working to take away the power of "We the People." How? We'll be too poor and subsequently too dependent upon the Government for everything; from jobs to transportation to health care.

  • 1 vote
#2.1 - Mon Feb 9, 2009 12:57 PM EST
pjwrites

The government is populated with folks (D or R) who have no allegiance to anyone or anything except themselves.

You, too, are dead on, Walter. I can't begin to tell you how many letters I've written to my representatives in Congress over the past year - and every one of them returned a form letter. Who, exactly, do they represent? Themselves, once they're in, apparently.

    #2.2 - Mon Feb 9, 2009 1:52 PM EST
    Reply
    Chris the Canadian

    Based on nearing's seed on $1.144 Quadrillion in Derivative debt, I've made an online slide show with music for folks to easily see the size of US debt against the Derivative Debt. Featured on slideshare.net. You can also download the tiny 1.2 meg file and play in it PowerPoint or email it.

    The title is "How Much Is A Trillion?" (NV link) or here is the direct link

      Reply#3 - Mon Feb 9, 2009 12:46 PM EST
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