shagbark (shagbark) wrote,
shagbark
shagbark

Is anybody keeping track anymore?

With the new $1.2 trillion bailout of mortgages etc. the Fed announced today, the US government's total spending on bailouts since November comes to $6 trillion. That's nearly half of the US 2007 GDP of $13.8 trillion. We've spent that in less than half a year.

Congress and the Fed are literally spending money faster than America earns it. I don't mean tax dollars. I mean total pre-tax money.

In November, Congress raised a fuss over a mere $900 billion. Now, anything less than a trillion barely makes the news.

I thought that whoever was elected President couldn't possibly do worse than Bush.

I may have been wrong.
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