If we made money on the Trillion Dollar Bank Bailout, why did we still run a $1.3 trillion deficit?
It has been recently reported the goverment made money on the Trillion Dollar Bank Bailout. Where did the other $13,000 / US household go?
Actually, we doubled our total deficit at the Federal level from 6 to about 13 trillion. We are issuing massive amounts of bonds and the interest is going to the big banks that are buying the bonds. And the banks ponzied up until they had to seek protection. When they stopped lending, the government stopped taking in so much money and the debt ballooned. Had we never had the ponzi government spending would have been more reasoned, but we paid for two wars and many entitlements. I am for entitlements as a buffer against bank abuses, and the bank bondholders should take major haircuts. Until that happens I am against budget cuts to people who did not cause the ponzi housing crisis, and believe me it was a scam doomed to failure. And the scamsters, the central banks, knew it would fail!
I am so freaked out by our deficit, that I try not to think about it because it is so high, what can I do? It is absolutely ridiculous and we keep spending and spending.
I'm freaked out too, duffsmom. $13,000 per household per year projected additional debt for the next several years is hard to fathom. The accumulated $13 trillion as bgamall accurately mentioned amounts to $130,000 per household!
by logic,commonsense 7 years ago
Read an article on MSN that the projected deficit for this year is 1.5 trillion dollars. Makes bush look like a piker with his measly 3-400 billion dollar deficits.Course there will be those that forget that bush is no longer prez and will find a way to blame him.Obama and the Dems own...
by Alternative Prime 7 months ago
GOP On Cusp To BLOW A 1.5 Trillion Dollar "SINK-Hole" In Our Deficit ~ WHY The INSANE Recklessness?Yup, Believe it or NOT, that's an UNBELIEVABLE Fact ~ Briefly, here's what this "Trump University STYLE Scam" accomplishes ~ CUTs in Medicare/Medicaid Sabotage of ObamaCARE/ACA...
by Eric Graudins 9 years ago
Hi,Recently a feature film named I.O.U.S.A. was released, which is about the enormous debt burden that is crippling the USA.A 30 minute version has just been released on You Tube at http://au.youtube.com/watch?v=O_TjBNjc9BoIf you're not aware of the USA national debt, its causes, and implications...
by CMHypno 8 years ago
Do you think this will happen?http://www.dailymail.co.uk/news/worldne … e-GDP.html
by qwark 7 years ago
A billion:A billion seconds ago it was 1959!A billion minutes ago jesus alledgedly lived!A billion hours ago our ancestors were living in the stone age!A billion days ago no one walked upon the earth on 2 feet!Now, consider 1000 times a billion: a trillion... and try to visualize our national...
by CHRIS57 6 years ago
The total of student loans has reached the 1 Trillion Dollar. http://www.washingtonmonthly.com/colleg … ar_day.phpIf you consider the number of student enrollments in the US to be in the range of 20 million, simple math gives an average of 50 thousand per active student. If you subtract the...
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