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Government Bailout Up To $8,500,000,000,000. Didn’t See That One Coming!

Posted on | January 16, 2009 | 3 Comments

The government wants you to believe that the bailout plan was and always has been a mere $700 billion.  Once again, our government is not reporting the entire truth; government and reporting the truth, that is enough to make anyone chuckle a little bit.  Well Mr. Paulson and Mr. Bernanke, how can the bailout plan be $700 billion when TARP equals $700 billion, the stimulus package was $168 billion and Citigroup was bailed out for $291 billion.  I am not good with numbers, but aren’t these three commitments alone over $700 billion.  This does not include the $300 billion for the hope for homeowners and the $123 billion loan you provided AIG.  One day in the near future, I wish a politician would just be honest.  Oh, wait, I would have better luck getting help from this article on Digg; Reddit owns you Digg!

I digress; Mr. Paulson OR Mr. Bernanke, you have lied to the American public for several years now.  You made us believe that the economy was not in a recession.  You tried to convince us that printing money was an effective way to stimulate this economy.  You even attempted to make us believe that bailing out YOUR friends on Wall Street was going to help this economic environment.  What now? Let me guess, the housing market is getting better right?  Ask any middle class American if THEY think this housing market and economy is getting better.  Stop asking your Wall Street buddies who drove Lehmen, Bear, AIG, Freddie, Fannie, Citigroup, WAMU and Merrill into the ground.  Have they shown any reason to be a useful resource?  They failed just like you seem to be doing.  Just tell us the truth!  Our tax dollars are going towards an $8.5 TRILLION dollar bailout that might not work.  See, wasn’t that easy?

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Comments

3 Responses to “Government Bailout Up To $8,500,000,000,000. Didn’t See That One Coming!”

  1. sherry
    January 17th, 2009 @ 6:27 pm

    The high cost of gas this past year seriously damaged our economy and society. The ripple effects will be felt for years to come. The electricity to charge the car could come from solar or wind generated electricity. If all gasoline cars, trucks, and SUV’s instead had plug-in electric drive trains, the amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota. Why don’t we use some of the billions in bail out money to bail us out of our dependence on foreign oil? I just read the best book by a guy named Jeff Wilson called The Manhattan Project of 2009 Energy Independence Now. I wish out country would recognize the need to bail us out of our dependence on foreign oil. Oil is finite. We are using it globally at the rate of 2 X faster than new oil is being discovered. It will run out one day in the not too distant future. Bail us out of our dependence on foreign oil. That would be an investment with huge returns.

  2. John
    January 17th, 2009 @ 8:22 pm

    The spiking gas prices was just Mr. Bush and his buddies lining their pockets on the way out the door! Or am I just a cynic? I would like to think it had nothing to do with the powers that be here in America but that really isn’t the way I feel about it. There were a couple of weeks out of the last eight years I was behind Bush but I am glad to see him go!

    As for electric cars batteries are an eco-nightmare hydrogen is the way to go, Solar too. The acids in Batteries on the scale needed to use them as a primary source of energy or transportation will just create another nasty dumping place somewhere in this world where there is now pristine land. Wind, Solar Hydro is the way to go. Soon if we keep it up there will not be water to drink.

    50 years ago my father said people would be paying big money for water and people laughed at him! I guess when you figure it at $1.50 per bottle paying $12 a gallon for water is pretty big bucks but people don’t see that do they?

    Just like spending and finances people look at it from a blind perspective. We pay tens of thousands of dollars more than is necessary in interest. Just like people don’t see 12 bucks a gallon for water they don’t see that a 6% fixed rate mortgage is really a 116% effective rate of interest! It really is all in the perspective we look from. Frankly most of us have our heads you know where when it comes to how this Country is run and I for one am real tired of the nonsense.

  3. Subprime Blogger » The PORTAL Alliance Could Be the Destruction of Our Economy and We Don’t Even Know What It Is
    February 13th, 2009 @ 10:31 pm

    [...] Government Bailout Up To $8,500,000,000,000.  Didn’t See That One Coming! [...]

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