Unchained Insanity: $12.8 TRILLION in bailout by Gov & Fed

[travelinman67]

This has gone beyond foolish and moved into the realm of self destruction...

Financial Rescue Nears GDP as Pledges Top $12.8 Trillion
By Mark Pittman and Bob Ivry


http://www.bloomberg.com/apps/news?pid= ... =worldwide

March 31 (Bloomberg) -- The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.

Has anyone ever bothered to ask the question, "What started the market devaluation?"

[grizzaholic]

I thought Obama was going to stop spending money and save the nation? All I see of him is spend, spend, spend.....rumor has it that he had that he had to order more ink for the money because they ran out because he was printing it so fast.

[Ivytalk]

That really puts it into perspective. Horrifying numbers. We'll all be working for Uncle Sucker before you know it.

[travelinman67]

This insanity won't stop until the dollar has been devalued...Soro's has made a few trillion, the Dem's realize they've skunked themselves, and the "National Civilian Service Camps" have been converted into labor camps to produce cheap goods to pay off the trillions we already owe China.

I know the Dems will disagree, but I'd take the past 8 years with Bush over the past 70 days under Obama. Bush was bad, but Obama really is a trainwreck.

I've said it before, and will keep repeating it 'til the Dems wakeup...

Remove Pelosi and Reid. Gut the power from Schumer, Frank, Conyers, Feinstein and Durbin. Obama should fire Axelrod and Podesta. Bring in an army of business executives to review all the legislation and regulations enacted since his inaugration, then after rescinding the gaffes, develop a govt. finance/regulatory program that puts GDP first and above all else.

Unless the GDP is fixed...we are fucked.

[bobbythekidd]

Unless the GDP is fixed...we are fucked.

Government spending is a part of the GDP. If Obama has equaled 2008 GDP with the 2009 Government spending then he has doubled the GDP.