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i think they uttered a truism that is the basis of the problem to begin with.
http://www.cbsnews.com/stories/2008/09/17/notebook/main4455247.shtml
The federal government may seem like a financial knight on a white steed riding to the rescue of big companies in trouble. The irony is that Uncle Sam’s got enormous money problems of his own.
The government is far deeper in debt than any of the companies it’s bailing out.
As of this morning, the national debt stands at over $9.634 trillion. That’s trillion - with a "T." And that’s nearly $4 trillion more than it was on the day President Bush took office.
This year alone, it’s costing taxpayers more than $230 billion just to pay the interest on the national debt.
"The Fed didn’t need President Bush’s permission for the bailout, but he supports the action."
we have a taxpayer funded private company who not only created this problem but is using us to pay fer it.
the only reason they have a 400B+ deficit this year is that they have at least 3 sets of books they keep. Hell-- Enron CEO and CFO went to jail for only 2 sets.
how long will they be able to hide the what 600B they have promised to wall street they had to borrow this year--- that is not in the budget yet?
a one+ trillion deficit next year no matter who wins, and before they pass a single promise.
abandon ship
And it’s getting bigger every day thanks to the relentless rush of the government spending money it has to borrow. The federal deficit for the fiscal year ending September 30 is expected in the range of $400 billion - close to the all-time high.
In fact, the government doesn’t have the $85 billion needed to bailout insurance giant American International Group.
The treasury department announced this morning it would auction new debt to raise funds for the Federal Reserve’s rescue plan for AIG.
The Fed didn’t need President Bush’s permission for the bailout, but he supports the action.
http://www.cbsnews.com/stories/2008/09/17/notebook/main4455247.shtml
The federal government may seem like a financial knight on a white steed riding to the rescue of big companies in trouble. The irony is that Uncle Sam’s got enormous money problems of his own.
The government is far deeper in debt than any of the companies it’s bailing out.
As of this morning, the national debt stands at over $9.634 trillion. That’s trillion - with a "T." And that’s nearly $4 trillion more than it was on the day President Bush took office.
This year alone, it’s costing taxpayers more than $230 billion just to pay the interest on the national debt.
"The Fed didn’t need President Bush’s permission for the bailout, but he supports the action."
we have a taxpayer funded private company who not only created this problem but is using us to pay fer it.
the only reason they have a 400B+ deficit this year is that they have at least 3 sets of books they keep. Hell-- Enron CEO and CFO went to jail for only 2 sets.
how long will they be able to hide the what 600B they have promised to wall street they had to borrow this year--- that is not in the budget yet?
a one+ trillion deficit next year no matter who wins, and before they pass a single promise.
abandon ship
And it’s getting bigger every day thanks to the relentless rush of the government spending money it has to borrow. The federal deficit for the fiscal year ending September 30 is expected in the range of $400 billion - close to the all-time high.
In fact, the government doesn’t have the $85 billion needed to bailout insurance giant American International Group.
The treasury department announced this morning it would auction new debt to raise funds for the Federal Reserve’s rescue plan for AIG.
The Fed didn’t need President Bush’s permission for the bailout, but he supports the action.
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