Posted on 09/11/2013 4:25:11 AM PDT by Oldeconomybuyer
The US Treasury said Wednesday the government's massive response to the economic crisis five years ago paid off, avoiding a catastrophic breakdown of the financial system.
In a report marking the anniversary of the bankruptcy of investment bank Lehman Brothers -- which snowballed into the worst crisis since the 1930s -- the Treasury defended deploying hundreds of billions of taxpayer dollars to save other banks, major financial institutions and auto companies.
The downside is a government deficit that rocketed to $1.4 trillion in fiscal 2009 and continued to top $1 trillion until this year. That sent government debt to the current nearly $17 trillion, compared to just $10 trillion five years ago.
(Excerpt) Read more at france24.com ...
Total BS. This “bailout” went into the hands of our oppressors, paid for by us.
compared to $6Trillion 5 years ago - not 10
Unfortunately “avoiding” the catastrophe wasn’t what we needed to do.
Detroit has been avoiding catastrophe for 40 years.
A half-decade of Maobama isn’t catastrophe? :?
Bull$hit.
This was Soros’ and Obama’s and Romney’s
OCTOBER SURPRISE to DELIVER the American people
as slaves to Obama and al Qaeda.
Not “avoided”, just postponed. The reckoning is still coming, and it will be like the tax bill that was ignored - the interest and penalties just keep piling up, until the creditor chooses to take action. This nation will be tied up in legal restrictions and physical limitations that will eventually reduce the territory once known as “the United States of America” into a collection of balkanized republics.
If that could happen to the Soviet Union, it surely could happen here. And this country has been trying so very hard to convert itself into the image of the former Soviet Union.
There are no letters “O” or “V” in the word “created”.
The title is misspelled.
“The US Treasury said Wednesday the government’s massive response to the economic crisis five years ago paid off, avoiding a catastrophic round-up and prosecution of bankers and politicians responsible for the Charley Foxtrot status of the US economy.”
To be honest, that’s the way the story should have opened.
Oh, good! Now we get paid back?
for the banksters.
Bull.
Bankruptcy would have been cheaper, moral, fair, and quicker. The political class and their cronies benefiitted but the taxpayers got the shaft.
The bill is still due.
Bring back American manufacturing.
Now.
Everything, and I mean everything, is now imported from somewhere.
Most of it, from China.
Who decided, that to make everything in China was a good idea?
China has four or five times America’s population, yet is now poised to reign supreme globally.
Yet their entire country, is run by the communist party.
Wake up people.
Bring back American manufacturing.
Only delayed the inevitable, and made the inevitable that much worse.
They did not have to. They simply decided to make it as hard and as expensive as possible to produce anything here.
Yet making stuff in China, means paying money to employees of Chinese government.
Building up our biggest threat.
China is dangerous. Very dangerous.
China is the one opponent, we cannot overcome.
Yet we continue building up our enemy. Day after day.
BOTH PARTIES, ARE SELLING OUT AMERICA.
Then we need to stop electing the Gimme Party (Republicrat)
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