Scariest cat picture I could find
You don’t know the 1/2 of all the financial obligations the government has taken on in recent months. In fact, you don’t know the 1/8th of. You keep hearing about 800 billion, or maybe 1.3 trillion, but it’s actually $8.5 TRILLION dollars.
Click here to see a handy table of all the obligations and here to see the accompanying story:
The federal government committed an additional $800 billion to two new loan programs on Tuesday, bringing its cumulative commitment to financial rescue initiatives to a staggering $8.5 trillion, according to Bloomberg News.
That sum represents almost 60 percent of the nation’s estimated gross domestic product.
But what if it doesn’t work? Not social unrest. Not hyper-inflation:
Rogers says her biggest fear is not hyperinflation and the social unrest it could unleash. "I’m more worried about a lot of federal dollars being committed and not having much to show for it. My worst fear is we are leaving our children with a huge debt burden and not much left to pay it back."
I think hyper-inflation, social unrest and sticking the bill to our kids is quite likely. But what is important, at least to the politicians like George Bush, Barack Obama and other psychos we call “leaders” is that it not obviously fail while they are in charge. So spend trillions and kick the can down the road is always the preferred choice.
H/T Dad