1494Its All Starting to Add Up
- Jan 8, 2009
It’s All Starting to Add Up
If we continue our current path, it won’t take long before we will be in debt to the Federal Reserve Banksters. - Ron
From: Spencer, Dave [mailto:Dave.Spencer@...]
Sent: Monday, January 05, 2009 1:29 PM
To: Spencer, Dave
Subject: RE: Its All Starting to Add Up
Billions & Billions & Trillions & Trillions. In less than a year federal lawmakers have spent $168 billion on an economic stimulus package, plus approved $700 billion in more spending to prop up financial firms, devoted many billions more to bailing out specific companies, including Fannie Mae and Freddie Mac, and they are now planning a new stimulus bill that will likely range to over $1 trillion in 2009 in addition to the $900 Billion from 2008.
And all of this is funded through borrowing because cutting spending or increasing taxes could make the recession worse. (No, really?) At the same time about 40 percent of Treasury bonds already held by private investors will come due next year, which will require new borrowing at what certainly will be higher interest rates. The Washington Post is reporting that the bottom line is a $2 trillion increase in total federal debt.
At the start of 2009, the federal government owed $10.7 trillion,
although that doesn't count the $4.3 trillion of the amount that is
"owed" to government itself (to the Social Security trust fund, for instance). So, what's the difference between $11 trillion and $15 trillion? Did you say $4 trillion? But don't forget all the billions in interest on those amounts. The Moslem oil sheiks, the Chinese and the Rothschilds, who hold most of those T Bills, will certainly not forget...
Source: Washington Post.
Comment: It's starting to add up, and he's not even president yet. And guess who will be paying for all of this? If you said Barack Obama and his fellow Democrats will be taking some of your "wealth" and they will be "spreading it around", you're getting close... but even if they took all of your wealth, would they even come close to paying for all of this?
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