And the Democrats 2010 campaign
How we are financing our own destruction with tax dollars.
Obama raised or spent over $600 million dollars to win in 2008. Chump change
He and the Democrats just multiplied that number by a thousand, or actually closer to twelve hundred times, that 1,200 times. Or rather, you and I just multiplied that number by twelve times as much money. The stimulus bill of $787 billion ($787,000.000) is being used by Democrats to buy votes for the next two elections. Technically speaking, it ain’t tax money, since the deficit (the difference between the amount of taxes collected and the amount of money spent) is going to go way past $787 trillion dollars.
The stimulus is not being used to stimulate the economy by creating jobs. And while I said that it is being spent to finance the next elections, that is only true by extension. A lot of it is being used to reward Obama supporters in preparation for next year’s election, as well as 2012. $800,000 to Kevin Johnson, mayor of Sacramento and founder of St. Hope, Obama supporter and hoops partner. $40,000 to the law firm of Colorado Gov. Bill Ritter. Things like that.
The Federal Reserve got in on the act, too. Bernanke has spent between one and three TRILLION dollars to purchase bad debts. It’s hard to tell just how big the Fed’s contribution to the Obama New World Vision is. They can legally hide just about anything they want to hide.
The Fed doesn’t get tax money, but that doesn’t mean you won’t be paying for it. The Fed has two choices, as far as I can determine. The first is to sit on the bad debts and try to whittle them down so slowly that it won’t really affect the economy. Think of it as moving the bad numbers to a spread sheet that stockholders, and Americans, can’t see. If they can sit on the numbers for ten or twenty years, they can gradually reduce it to zero.
The more likely scenario is that the situation is out of control, and the Fed just created double digit inflation. You don’t have to take my word for it. Such are the fears of our greatest lender: China. The worsening economy makes this scenario much more likely. After all, even paper money has limits.
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1 comment:
Croaker Norge, you are dead on target with this piece. According to my very own words on the AlabamaTeaParty.org site, I said, "With his trillion dollar slush fund, he has an election war chest that is larger than the GDP of many nations, and he has already told us in book form what he plans to do." It's monstrous! It's like we're being fed our own arms and legs for dinner every day!
Croaker Norge, keep up your excellent work!
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