Tuesday, July 21, 2009

Report: Bailouts could cost U.S. $23 trillion

From a disturbing report by Eamon Javers in Politico about Barack Obama and Congressional Democrats leading the U.S. to economic suicide:
A series of bailouts, bank rescues and other economic lifelines could end up costing the federal government as much as $23 trillion, the U.S. government’s watchdog over the effort says – a staggering amount that is nearly double the nation’s entire economic output for a year.

If the feds end up spending that amount, it could be more than the federal government has spent on any single effort in American history.

For the government to be on the hook for the total amount, worst-case scenarios would have to come to pass in a variety of federal programs, which is unlikely, says Neil Barofsky, the special inspector general for the government’s financial bailout programs, in testimony prepared for delivery to the House oversight committee Tuesday.

The Treasury Department says less than $2 trillion has been spent so far.
Read the full story at POLITICO and call your representatives in Congress and tell them they will be out of a job in 2010 if they continue to follow Obama over a cliff.

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Wednesday, March 25, 2009

U.S. Postal Service asking for bailout

Guess who's looking for a bailout?

Postmaster General John Potter told Congress today the U.S. Postal Service will run out of money this year without help from the government.

The Postal Service lost $2.8 billion last year and expects a bigger loss this year, Potter said. The agency is projecting a $6 billion loss in 2010.

How the hell do you lose that much money when you're a government monopoly?

Potter is asking Congress for permission to cut Saturday mail delivery to save $3.5 billion, but it still doesn't get the Postal Service out of the red. Maybe Potter can hire some of the executives at AIG.

If you need any further proof that the government can't do its most basic jobs, look no further than the Postal Service.

So of course, Barack Obama wants the government to do more, including taking over the health system in this country.

Picture yourself waiting in line to see a doctor just like you wait in line to buy stamps.

Stop the madness.

U.S. Postal Service Details Economic Viability Strategy

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Friday, March 20, 2009

Mystery Solved

Wednesday, January 28, 2009

200 economists oppose Obama 'stimulus'


POLICY BLOG has a post today about a new ad from the CATO Institute in which 200 leading American economists voice opposition to the Obama "stimulus" package.

You can read the ad in PDF form at POLICY BLOG.

Make sure you let your member of Congress know that another ill-conceived expansion of government is now what the American economy needs. The Democrats pushed though the $750 billion bailout bill last fall and it's been a bust so far.

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Sunday, January 25, 2009

Columnist: Obama should follow Reagan lead

Washington Times columnist Diana West is troubled by President Obama's demand for $850 billion in new federal spending to get the U.S. economy moving again.

There's no evidence that massive government spending will boost the economy, West argues. And have we forgotten already how the $750 billion "bailout" Congress approved last fall has failed miserably?

From her latest column:
I found myself wondering how Ronald Reagan, entering office in 1981 with high inflation (12 percent) and unemployment (7.5 percent) higher than today (7.2 percent), and a contracting GDP approached hard times. In what turned out to be his first inaugural address, he, too, used the word "crisis" to describe "the economic ills" Americans were suffering. Noting that these ills were a long time coming and wouldn't go away "in days, weeks or months," he said: "But they will go away. They will go away because we, as Americans, have the capacity now, as we have had in the past, to do whatever needs to be done to preserve this last and greatest bastion of freedom."

"In this present crisis," he continued, "government is not the solution to our problem."

There's a twist. In this present crisis, according to the Obama administration and its stimulus-package trillions, government isn't just the solution, it's our only hope.

That's change for you.
Read the full column at The Mercury Web site.

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Friday, January 23, 2009

Report: Obama bailout package will spark inflation

For those who think the economy can't get any worse now that George W. Bush has been replaced by Barack Obama, guess again.

If the $750 billion bailout approved by Congress and signed by Bush last fall didn't work, what makes you think that a similar $850 billion government bailout proposed by Obama will work now?

U.S. bailout package will spark inflation and shift the burden to foreign investors: CIBC World Markets

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Friday, January 16, 2009

Check out BreakTheBailout.com

Break The Bailout!

Check out this Web site to learn how the politicians (Democrats and Republicans) and Wall Street types are screwing the American taxpayer again: http://www.breakthebailout.com/

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