1,831,850,898,000.00
Well I hope all of you people who were against what you call the
"Bailout" are happy. Based on data I obtained today, the government did
not spend 700 billion dollars and the American Tax payer lost over
nearly 2 trillion dollars conservatively in their 401k plans alone. This
does not count investments that were in other types of saving plans.
Add to this the fields that will not be planted because the farmers can
not obtain financing for his next years crops, inventories that can not
be purchased because of no financing, new plants that will not be built
because there is no money for the required mortgages; the list goes on
forever. Don't forget the loss in jobs that are in industries
dependent on construction and loans to finance their operations.
For years John McCain, President Bush and others warned congress
repeated, but the "Do Nothing" Congress saying there were no problems
with the bill clinton policies that created the sub-prime excesses that
led to the current crisis. Congress has still not admitted they were in
error with the off shore drilling ban, while they have quietly let the
ban expire.
Now the American people are paying through the nose. In essence,
congress has done what it has been doing for years; passing the problem
off to someone else to fix or to suffer. Now the American public is
paying heavily in their incompetence as losses in income, saving, and jobs.
I will bet you don't get your cars greased either because the $30 is to
much money to spend.
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