Almost $3Trillion: But Who’s Counting? by Heath Suddleson
Today we have a guest Post by Heath Suddleson. Heath always has a talent for condensing a problem into a clear understandable description. Buck
Almost $3Trillion: But Who’s Counting? by Heath Suddleson
Let’s go back to last September and remember that we passed an $850Billion TARP bail out package which was touted as “we must do something now or certain doom will come”. Several months later we are all upset because $350Billion has been spent with no accountability or tracking of where the money went. The same politicians that told us we needed to trust them in September are now telling us that they are appalled by the behavior of banks who received this money yet continue to pay unruly salaries and bonuses. Those same politicians who created the loopholes and gave away our money are now telling us that if they don’t pass more spending bills that certain doom will follow. Remember the argument that we had to invade Iraq right away to find the WMDs. There are those that said that we should have taken more time to evaluate the situation and find better alternatives.
Now Obama is travelling around like he’s still on the campaign trail doing town hall meetings to get the public to support his stimulus bill which carries a price tag around $900Billion. It includes funding for things such as new grass for the National Mall in DC, condoms for high schools, digital TV converter boxes, and funding for the National Endowment for the Arts among many other things that have no place in this bill. There is about 20% of the bill that will actually stimulate the economy and create jobs, but the other 80% is pure pork that will create so much debt that we, our children, and our children’s children will never be able to pay it off.
As if that’s not enough, the new Treasury Secretary, Tim Geithner, is suggesting that we need another $1Trillion Bank Bail Out package to buy up the bad loans so that the banks can get back on their feet. Pardon me for having a good memory, but wasn’t this what the first $850Billion TARP was for?! Also, please note that the NEW $1Trillion bank bail out is IN ADDITION to the first $850Billion TARP and the $900Billion Stimulus. That’s a grand total of $2.75Trillion!
It’s time to put the brakes on the process. We still have $500Billion to spend from the TARP and we need to use that effectively before we earmark another dime. I invite all of you to call or write your Members of Congress and let them know how you feel.
I’ll leave you with a quote I recently found.
“You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it.”
~~~~~ The late Dr. Adrian Rogers, 1931 - 2005 ~~~~~
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