Economy not so hot? Not to worry, we’ve got geniuses in the government working on it overtime. Well, maybe not overtime. Their gigantic brains are thinking stimulus and bailout, stimulate and bail. And bail. And stimulate. You stimulated yet? Yeah, that’s what I thought.
That first package they came up with was a doozy – $700 billion. For those of you who can’t easily picture that much money (and who can?), that’s more than a million dollars a day since the birth of Christ. Get a hold of yourself, that’s just the first bailout package. The total currently earmarked for stimulus and bailout purposes is now about $12.2 TRILLION! Sheer genius, really. By the way, your Representatives in Washington were besieged with calls and emails from concerned citizens overwhelmingly against passing TARP. Problem is that the big banks and investment houses had already besieged those same Reps with large campaign donations.
Now that’s an awful lot of loot by anyone’s standards. So how’s the economy doing? Oh, still not so hot? Hmmm. $12,200,000,000,000. And hey, they’re not finished yet.
The results thus far: Banks continue hoarding, credit is tighter then ever, mortgage defaults skyrocketing, unemployment is rising, jobs are still going overseas and no end in sight for the economic disaster brought on by its wealthy engineers and bailout recipients (who are one and the same). You know where all that money is going don’t you? As much as 87% of bailout funds have been given out as executive bonuses.
I wonder, did anyone in Washington consider that they could have simply given a tax-free $40,000 to every U.S. citizen, every man, woman and child? That kind of distribution would certainly stimulate the economy. It would be a lot fairer too. Business would be booming. Jobs would be created. Mortgages would get paid. And there would be $37.6 billion left over.
Good point! It’s pretty obvious that this is all about transfer of wealth, and not to the average citizen. Goldman Sachs virtually holds all the cards in this game. They run the Fed, pay off the Gov’t, engineered the relaxation of safeguard regulations, and then bailed themselves out! Sweet!
Good luck with your new blog!