Posted on 02/11/2009 4:17:58 AM PST by Jim Robinson
The federal stimulus package would raise the governments commitment to solving the economic crisis to an astronomical $9.7 trillion enough to pay off more than 90 percent of the nations home mortgages.
The commitment is composed of about $1 billion in stimulus packages, about $3 trillion in lending and spending, and $5.7 trillion in agreements to provide aid, the New York Post reported.
The House has approved an $819 billion stimulus plan, which needs to be reconciled with the Senates package of at least $780 billion.
The total value of home mortgages in the United States is calculated at $10.5 trillion by the Federal Reserve.
(Excerpt) Read more at newsmax.com ...
A trillion here, a trillion there, pretty soon we’re talking big money.
They shouldn’t have any problem paying off my mortgage. LOL
This bill needs to be renamed The Marxist Conversion and Stealth Health Act of 2009. Washington will henceforth be known as Obamastan (pronounced oh-bah-mah-stahn) and the country will be known as the United Socialists States of Amerika.
It was clear from the beginning that this wasn't about defaults (a relatively small number). It was caused by the 10:1 leveraged purchases of ABS, CDOs that were used to gamble on defaults, and the enormous stack of derivatives that kept everything nice and stable until the bottom got kicked out. We should probably thank the people who started the PPT in 1987, congress in the 90's with their housing mandates, Greenspan, etc. Now all the govt can do is make it worse by nationalizing banks forcing them to prop up dead beats while denying loans to diligent investors.
I keep hearing Billions needed, then Trillions, then more Trillions. There is no way there is actual dollar value to back up all this “money” being thrown around and promised.
I am truly frightened for the direction of our country. If they want to pay off mortgages, does that mean they own me? I had a stupid argument with a stupid person who says communism is just a form of economy. I tried, in vain, to explain that the government expects ownership of you and your acts if they support you. That is more than economy.
Too many people want a free ride and don’t care if they have to give up freedoms for it.
What is sadder is that the black community has pursued for decades into the communist life and it’s essentially being owned in exchange of support. Why can’t they see the similiarities?
The Obama cabinet includes one with a husband soliciting money from foreign governments and special interests, one with tax problems, and another with tax reporting problems with a wife employed as a lobbyist. Moreover, President Obama took the get-tough stance of forbidding lobbyists in key posts and then allowed two exceptions soon after.
Instead of change, we are about to witness a Democratic Congress willing to implode our future.
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President Andrew Jackson Experience should teach us wisdom. Most of the difficulties our Government now encounters and most of the dangers which impend over our Union have sprung from an abandonment of the legitimate objects of Government by our national legislation”
Remember, if you get into an argument with a fool, nobody will be able to tell you apart.....
Keeps me out of arguments with obamunists like my sis-in-law.
“enough to pay off more than 90 percent of the nations home mortgages.”
That’s the last thing the lending institutions want to happen. They’d miss out on all the interest.
” Too many people want a free ride and dont care if they have to give up freedoms for it. “
Not quite...
Too many people want a free ride, and don’t care if other people have to give up everything so they can have it...
That’s the Liberal/Socialist/Marxist bait-and-switch
The government is acting like a heroin addict, crazy to get its hands on its stuff and just as crazy to burn through it. I seriously think that analogy describes this irrational behavior.
It needs to be locked in a closet, away from money, until it dries out. And it will kick, scream, claw the door, and call you every name in the book if you try it, but it needs just that treatment.
In practical terms, the gov has already demonstrated it will spend money it doesn’t have, so I am at a loss for solutions except to keep the pressure on the RINOs and wait for the 2010 elections. Well, and a Constitutional convention - but then again, states won’t vote for that so long as they are grateful for scraps of the federal income tax coming back to their plates.
Thanks you for the visit you and fellow Freepers made to DC, btw.
“Communists seek to advance the cause of communism by injecting themselves into racial situations and in exploiting them, (1) to intensify the frictions between Negroes and Whites to ‘prove’ that discrimination against the minorities is an inherent defect of the capitalistic system, (2) to foster domestic disunity by dividing Negroes and Whites into antagonistic, warring factions, (3) to undermine and destroy established authority, (4) to incite racial strife and riotous activity, and (6) to portray the Communist movement as the ‘champion’ of social protest and the only force capable of ameliorating the conditions of the Negro and the oppressed.”
Sound familiar?
http://www.modernhistoryproject.org/mhp/ArticleDisplay.php?Article=FinalWarn04
That’s a good idea to keep in mind. However a left leaning individual was on the sideline on our discussion and said she never realized how in communist countries, you lost freedom. She literally had an idea that communism was like some hippy commune with free love and sharing. I reminded her of the boy who was run over in China by the bulldozer and her face went white.
It’s a shame how ignorant people are on some issues. And they have the right to select our leaders!
So now I know where Rev. Wright got his sermons...
[The federal stimulus package would raise the governments commitment to solving the economic crisis to an astronomical $9.7 trillion enough to pay off more than 90 percent of the nations home mortgages.]
Which the communist democrats and a few rinos will enrich themselves and the democracrat radicals and agendas with, a few crumbs may get through to the American people. Maybe not.
[government is acting like a heroin addict, crazy to get its hands on its stuff and just as crazy to burn through it. I seriously think that analogy describes this irrational behavior.]
Their heroin is power, their religion atheism, their speech lies. May the good Lord Jesus come soon.
Communists seek to advance the cause of communism by injecting themselves into racial situations and in [exploiting them, (1) to intensify the frictions between Negroes and Whites to prove that discrimination against the minorities is an inherent defect of the capitalistic system, (2) to foster domestic disunity by dividing Negroes and Whites into antagonistic, warring factions, (3) to undermine and destroy established authority, (4) to incite racial strife and riotous activity, and (6) to portray the Communist movement as the champion of social protest and the only force capable of ameliorating the conditions of the Negro and the oppressed.]
The communist democrat party has come a long way, baby.
They don't care yet. Give it some time. This is going to backfire in a big way....
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