The Mounting tab
Federal Government has already spent, pledged or put on the line more than $1 trillion dollars to rebuild the nations financial system (From the party that promises you less Government and free markets).
Among this years major commitments:
$700 Billion to invest in banks and ACQUIRE troubled assets.
From my understanding the government buys up private stocks and owns part of the banking system. Is that capitalism? I think the new the word should be socio-capa-commu-lism.
$300 Billion to back cheaper mortgages for troubled homeowners.
Hey I got an idea why not let the government buy all our homes and then there would be no troubled homeowner mortgages...they'd all be renters. Then our government could be the ultimate slumlord.
$200 billion dollars to back assets of Fannie Mae & Freddie Mac.
Freddie and Fannie should get married file for bankruptcy and collect welfare.
$123 Billion to bail out American International Group (AIG).
Now you'd think that smartest guys in the room would have bought insurance to bail themselves out. Oh...that's right right they were insured or is that assured by the Republicans & Democrats with words to this effect," Hey Guys don't worry we gotcha covered."
$29 billion to help J.P. Morgan Chase acquire Bear Sterns.
Gee...and all I want is some help to acquire ownership of my mortgage for a small fee of $150,00. What a selfish SOB I am.
The total cost to ransom back your country is 1.35 trillion dollars. Please make that in small bills and in non-sequenceail numbers.
Here's my question:
How many Americans agreed to this bailout?
Call your Representatives today!
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The whole problem is the Federal Reserve System. They simply print money anytime they need more. That "devalues" the US dollar every time they do it. A dollar from 1913 (when the Federal Reserve was created) is worth 5 cents today. They have reduced the value of the dollar 95%. The dollar used to be worth an exact amount of gold, now it is intrinsically worthless.
All this bailing out is just reducing the buying power of the dollar and setting up for another crash.
The entire money supply of US dollars in existence is between 13 and 14 trillion. Our national debt is over 10 trillion. What happens when we have borrowed more than is even in existence? Total irreversible collapse? I don't know, but I recommend a reversal of our current insane spending.
We could start by taking our military out some of the 140 countries we have military bases in. We have bases in almost every country in the world. Why?
How about stopping foreign aid to countries that hate us. Is that unreasonable?
We don't need to be taxed more to pay for all this nonsense. We don't need to learn to get by on less for the good of the country!
The government NEEDS to learn to get by on less for the good of the country!
Get rid of the Federal Reserve, go back to a gold standard and shrink the federal government to the size the Constitution specifies.
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