According to The New York Times, the government has made commitments of $9 trillion ($9,000,000,000) Through March 2nd. And has made commitments of $9 trillion to support the financial system. Only $2.1 trillion has actually been spent.
Crunching the numbers... that means the US has spent $18,500+ per household to shore up the financial system PLUS $79,646 per household for "other" commitments.
Oh, and our fearless leaders plan to spend ANOTHER $7,000 per household to "stimulate" the economy by borrowing more money.
My memory is short.. now why are we in this financial mess? Was it something to do with borrowers who took out loans beyond their means to repay? Hmmm. At what point do we acknowledge that our nation's leaders are following the exact same path?
Credit markets will only absorb so much.. and then our creditors (China, Mideast) will decide to cut off the creditline. Then what? The options are limited. Basically, the US citizen will have no savings.. so that leaves the ultimate option.. print more money! Yeah, that's a good idea. We'll need wheel barrows to carry the currency to the store to buy bread...and hope there is any available.
Friends- we are interfering in the financial markets big time and the catastrophe - the distortion government intervention has caused is almost unthinkable. Congress mandated these subprime loans be made or else... loans that would NOT have been made if Congress was not so intent on lording over the financial markets in this manner.
It's way past time to remove the parasites in Congress. They are ruining the country in so many ways it's hard to put into words. Promotion of radical programs is the fastest way to destroy freedom and liberty- we are being led into slavery by this "stimulus" plan. A high school economics student can see that.
Buy a home? Soon, interest rates will sky rocket- unemployment will continue to rise. Inflation will reduce buying power immensely. Government actions are going to make the recovery process longer and more painful than it should be... but try telling that to the President or Congress.
