Barofsky fires back at Treasury, says $24,000,000,000,000 estimate sound

Hot AirPundit ^ | July 25, 2009 | ED MORRISSEY

[RobinMasters]

The Special Inspector General for TARP, Neil Barofsky, made headlines this week when he estimated that the Obama administration had committed itself to spending as much as $24,000,000,000,000 to fix the American economy. The Treasury fired back at its own SIGTARP, saying that Barofsky inflated the numbers and that they had no intention of spending almost twice America’s annual GDP. In an interview with ABC’s Jake Tapper, Barofsky explains that the White House currently has dozens of programs dispensing cash, and that the caps on all of those add up to the $24-trillion mark:

[Jeff Head]

They hate the truth and the facts associated with it.

The Obama administration and their abettors in Congress are marxist liars whose intent is to destroy the Free Market and build a marxist command economy on its ashes.

It's past time we started educating everyone to that simple fact. That is their fundamental change.

A PETITION FOR CONSTITUTIONAL RESTORATION

THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA

A 4TH OF JULY TEA PARTY SPEECH

UNITED SOCIALIST STATES OF AMERICA - A SONG
By Ron and Kay Rivoli

...and on the lighter side, take your mind off the Obamanation for a few minutes and enjoy some beautiful Western US scenery slideshows.

JEFF HEAD'S WESTERN US SCENERY SLIDE SHOWS

[stephenjohnbanker]

No way we can pay this.

[healy61]

24 trillion. I can’t even begin to figure out how much that is per person in the US. Enough to pay off all the credit cards and many mortgages.

[taxtruth]

Yep,Bloomberg reported that in the last 10 months our buddies in Washington have spent 23.7 trillion dollars.The federal reserve and their international banker buddies have run away with the peoples money that we can never pay back.These people should be charged with fraud and extortion and our debt should be done away with.We can do this legally.The same thing happened in 1933 when America went bankrupt.

[org.whodat]

and that the caps on all of those add up to the $24-trillion mark:

I would bet that is low balling it!!

[stephenjohnbanker]

Obama has bankrupted the country in only 6 months. That doesn’t include:

1) Communist healthcare

2) Cap N Crush

3) Amnesty with chain migration.....IMPEACH!

[mo]

I would bet that is low balling it!!

BINGO!! When you factor in the bank liabilities Congress has assumed for us on our behalf...bet its twice as much

[taxtruth]

In 1933 the federal reserve was illegally shipping tons of gold out of America and no one did anything about it.The federal reserve are a bunch of vultures and we are screwed if we don’t get rid of them and go back to the gold standard or something of real value.Fiat money never last more than a 100 years history has proven.

[taxtruth]

The figure should say 23.7 trillion in 10 months spent plus all government liabilities which could end up being 75 to 100 trillion dollars.We cannot ever repay this amount of money.

[adorno]

No way we can pay this.

I don't think Obama and the democrats in control care.

Once they get their programs entrenched in the economic system, they know that they would be impossible to remove them in the future. Social security, Medicare/Medicaid, the Education Department, and many other social programs are virtually impossible to undo. Thus, the democrats are in a hurry to pass their nationalized health care programs and the cap-and-trade. Once entrenched, they would be impossible to argue against them and they would remain as part of the socialized economic system.

But, with spending already out of control, the democrats don't care how much more out of control it gets. They've passed the line of no return. To them, it's just a matter of getting things done their way and there's no limit in spending.

Once the government gets so deep in overspending, it's a matter of deciding whether the government can declare bankruptcy, But, with socialists in control, it would be just a matter of declaring the debt unpayable and nationalizing whoever the debtors are, and then declaring the debt paid or a non-issue. When the government has become all-powerful, the people are left with no choices but to go along with the program.

[rawhide]

Why have we not see hyper-inflation yet? I know the Germany started printing money like crazy which eventually led to it, when does ours start?

[plenipotentiary]

$60,000 per man woman and child.

[Petronski]

Bloomberg reported that in the last 10 months our buddies in Washington have spent 23.7 trillion dollars.

I'm surprised to see Bloomberg make such a ridiculous error as that.

Not even Barofsky says the entire $24t has been spent. Rather, his point is that $24t would be the total cost

[taxtruth]

The scary part is no one really knows the numbers until the fed is audited.