Here's more SHOCK & AWE for ya - Did you know that the House just approved a $630 BILLION spending bill to run the gov through the spring. Let's see...this includes a $25 BILLION loan to the automakers & also a record setting $488 BILLION for Defense.
Oh BTW, it's loaded with about 2,500 "pet porkers"! Seems to me that they would've cut the PORK out of their diets while they're looking for us to be the guinea pigs in this bailout plan!
Check this out: 700 BILLION in "C-Notes" weighs about 15 MILLION pounds. And laid end to end in "Singles" would reach around 70 MILLION MILES - Long enough to reach our neighbor ---- MARS!!
FYI, the $700B figure comes from the same brainiacs that guesstimated that the total damage caused by sub-prime would total a staggering 50-100 BILLION. (OH, IS THAT ALL? I think they were off by "just a hair"!)
Let's attempt to get a running total of all this liquidity:
700B - Hank/Bush/Wall St Bailout
29B - Bear Stearns (It's contained!)
85B - AIG (where the guy's just sitting 'round thinking about butterflies!)
200B - for the step children Fannie & Freddie
150B - for SLIM-ulus checks and let's not forget...
438B - a projected DEFICIT in the Fed's "BUDGET" for '08.
$1,602 BILLION or 1.6 TRILLION! Didn't they just raise the national debt ceiling a few weeks ago, again? This time it'll have to be adjusted to $11.3 TRILLION, give or take a few bucks! Talk about INFLATION!!
Look at it like this - the national debt will be over 70% GDP. H*ll, the national debt "only" reached 44% of GDP during the *GDY.
*Great Depression Years