$23.7 Trillion?
Call it the “sticker shock” of a lifetime …
The cost of the federal government’s reaction to the current financial crisis could end up reaching as high as $23.7 trillion, according to a report being released today by the special inspector general of the so-called Troubled Asset Relief Program.
That’s trillion with a “T” – which would make bailout-related expenses more than twice as big as the entire national debt was when all this interventionist insanity started.
TARP watchdog Neil Barofsky’s admittedly high-ball figure includes all fifty (that’s right, fifty) programs the federal government has created to “stimulate” the American economy – none of which have worked.
Comments
By liz on July 21st, 2009 at 7:59 am
FITS, it’s gonna be bigger than that. Here’s why… no one wants to listen but this is sadly the real truth.
The Social Security and Medicare Trust fund has been siphoned to Fidelity Management and Research. It happened over the past twenty years, maybe more years, I’m not clear on that part yet.
Then, the Trust that the Full Faith and Credit of the United States Government is also gone…. It’s been out of the signatory’s control since 1989.
Now, Fidelity set up operations in Buenos Aires in 1989.
And the London AIG office opened in 1987.
The total operating budget for SSA/Medicare this year is 656 billion dollars.
When people asked why TARP was 700 billion… the answer was ” because we wanted or needed a big number”.
TARP is covering entitlements this year.
All bailout money and TARP money is going to FMR, indirectly.
Go look at business structures. The SEC website is the place to start. They have a tool called EDGAR and it’s got its own tutorial.
When you realize we are repaying what FMR stole from the US of A… it’ll make you mad as hell.
Hopefully you will join me in calling for accountability . Maybe you’d like a copy of my whistleblower packet that FINRA ( Financial Industry Regulatory Agency) sent directly to Fidelity.
Two Fidelity employees verified the account I FOUND> FOUND FOUND>>>> never knew about ok…. is a 401 A , government account, being held by a local catholic hospital.
This hospital recently sold an open heart operating suite in lieu of a government process called certificate of need.
I KNOW OF WHAT I SPEAK SIR>
YOU ARE SUPPORTING COMMUNISM AND SOCIALISM IF YOU FAIL TO ACKNOWLEDGE MY PROBLEMS>
By Red on July 21st, 2009 at 9:09 am
Everyone with a lick of sense wants a complete audit of the Federal Reserve. Let’s see who the Fed loaned trillions of dollars to and what were the terms of the loans.
This is without a doubt the biggest swindle in the history of the nation. Yet the press pays more attention to Michael Jackson’s funeral.
If we the people can not get the Federal Reserve audited, let’s quit calling our nation a republic or a democracy.
By w on July 21st, 2009 at 9:12 am
LIZ – NOBODY READS YOUR SHIT ABOUT SOCIAL SECURITY. GIVE IT UP ALREADY.
Sic – I believe the Masons were genius when they built the above monument to George Washington, knowing that it would one day not represent the stallwart that was George Washington, rather the “bend over and grab your ankles” approach Washington (Obama) is currently taking in trying to “fix” America.
By dirtbogger on July 21st, 2009 at 2:06 pm
I agree red!
By political hack on July 21st, 2009 at 2:57 pm
Just follow the money, it will lead you to places and corruption you didn’t know existed because the news is geared to entertain 3 year olds and keep everyone brainwashed to the “American Dream.” Whoever runs the Fed runs this country, not our politicians, they just run up the tab on us and we pay the Fed. The goal is perpetual debt, we must always run a deficit so the investors of the Fed can get their cut of the interest owed to them due to our wonderful federal government fiscal retardedness. The reason the dollar isn’t worth shit is because it represents debt, and the value of the dollar is a direct reflection of the amount of outstanding debt we will have to pay back. This is a nation whose government is made up of a bunch of trust fund babies and in order to keep their trust continuing the Fed prints all the money they wish, at the expense of the value of the dollar.
By Elmer on July 21st, 2009 at 4:06 pm
To hear Obama and his flunkies talk, you would think they want more regulation of the banking industry. But the biggest bank of all, the Federal Reserve, is immune from any oversight whatsoever. We all have Federal Reserve notes in our pockets, yet our politicians who supposedly love transparency in government when they are running for election, continue to keep us in the dark , when elected.
One can only imagine how much red ink is on the Federal Reserve’s books after bailing out all their buddies on Wall Street.
Senator Demint gets a “gold” star for pushing for transparency at the Fed.
By liz shepherd on July 25th, 2009 at 10:23 am
FITS> we are in it for 24 quadrillion. You ain’t seen nothing yet.