Posted by
Catmman on Friday, February 13, 2009 12:42:13 PM
The current 'debate' over the $800 billion (computed with interest over $1.2 Trillion) economic stimulus is just the beginning folks.
Add to that the following:
The $200 billion (roughly) tax rebate from 2008.
The $700 billion TARP from the fall of 2008.
TARP II is coming, it's only a matter of time. Cost for the next "bank bailout" could range from $500 billion to $3.5 trillion.
Don't forget that these bills are outside the normal budget of the United States which is (roughly) $1 trillion a year. Using the low end of projections of the projected 'stimulus', legislation already passed from 2008 and this years budget, our country is on the hook for roughly $3 trillion (without interest) dollars since the summer of 2008.
Again: The United States has 'spent' $3 trillion dollars in less than a a year. This number also doesn't take into account any further "supplemental" spending such as with war funding which is also outside the current budget and debate on 'stimulus'.
If you compute all of the debt Uncle Sugar is currently on the hook for and compare to past years deficits,
this is what you get.
That extremely low number is just for 2009!
The government is going to come to the trough again. And again. And again
When are we going to say enough is enough?