A trillion here, a trillion there, pretty soon we’re talking big money.
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”
“enough to pay off more than 90 percent of the nation’s home mortgages.”
That’s the last thing the lending institutions want to happen. They’d miss out on all the interest.
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.
[The federal stimulus package would raise the government’s commitment to solving the economic crisis to an astronomical $9.7 trillion — enough to pay off more than 90 percent of the nation’s 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.
$9.7 Trillion and the stock market is about where it was in Sept and headed lower!
In DC, that’s a job well done I guess.
Let’s see, that’s a fairly accurate price tag (subtotal) for open borders, illegal alien upkeep, a huge artificial credit / housing expansion, interest on the $11.5 trillion national debt (before Porkulus is signed into law), the US’s part of the ‘AAA’ toxic asset / hedge fund / derivatives Ponzi scheme, and unbelievable ignorance upon the part of our electorate (sheeple) and The Whores on The Hill.
My theory is that it’s more about bailing out investors, a great many of whom are foreign, rather than helping the USA.