Another 800 B to be ripped from the taxpayer ! -- Is America sinking or sunk ?

Question

WASHINGTON - Rolling out powerful new weapons against the financial meltdown, the Bush administration and the Federal Reserve pledged $800 billion Tuesday to blast through blockades on credit cards, auto loans, mortgages and other borrowing. Total bailout commitments, loans and pledges of backing neared a staggering $7 trillion
http://news.yahoo.com/i/749;_ylt=AkwYrN5CbQgWrQW3_HUbiPQDW7oF


The printing press -must be working overtime - another 800 billion has been ordered up

700 B for the elite but incompetent bankers who needed the taxpayers to buy them some real estate - ( they paid off outstanding loans on mortgages - kept the houses - and the government got a seat at the board room )

The auto sector asks for 85 B - and told no --- not without a plan and media told us all about their opulent jets (the bankers took the bus and kept their transfer to the corporate welfare office - located behind the paper mills that grind out pieces of paper such as cheques and currency )

Now another 800 B ---is happening - maybe the auto sector should add some zero's to there request because Paulson doesn't deal in fiddling small change ?

----------------------
Billion
1,000,000,000 (number), one thousand million
http://en.wikipedia.org/wiki/Billion

Trillion
1,000,000,000,000 (one million million
http://en.wikipedia.org/wiki/Trillion

Total US debt

$ 1 0 , 6 5 9 , 2 3 3 , 5 9 8 , 2 5 2 . 6 9

The estimated population of the United States is 305,162,410
so each citizen's share of this debt is $34,929.71.

The National Debt has continued to increase an average of
$3.89 billion per day since September 28, 2007!

Answer 1

Sinking fast and we just sit here looking at the holes.



:o) wise guy (o:

Answer 2

If this isn't obvious to everyone by now that the tanking of the dollar is INTENTIONAL, I don't know what it would take to get through to people.



The new world order agenda is unfolding very quickly. The tanking of the dollar will lead to a global reserve currency which is exactly what the new world order crowd want. Think about it ... what is the true meaning of sovereignty if a national hands over control of its money system to an international authority. He who controls the money controls the politics.



People need to wake up. Many of the politicians have sold out to the banksters, and those who have not need to wake up as well.



The country won't survive this because nothing is being done about the trade imbalance. The American middle class does not have the consumption ability to right this ship.



The effect of these bailouts won't reveal themselves fully for about eight months to one year. I would suggest people get prepared.



If you want some good reading about who is behind it all, review the books listed here:

http://www.realityzone.com/banking.html

Answer 3

We are sinking rapidly.



It really is time for everyone to take off their designer labels (Neocon, Liberal, Democrat, Republican and what ever else y'all call yourselves) and put on something a bit more generic, like AMERICAN CITIZEN, and take ownership of OUR government and OUR economy, restore OUR constitution and bill of rights, and end this madness.

The first thing America needs is to simply stop borrowing. It is digging us in even deeper. The foreign Bankers already own most of the country and most of OUR government. The next thing is to eliminate the federal reserve and the credit based system. Do the math, it is really simple... as has already been made abundantly clear within the question.

Answer 4

For every bash there should be a reminder it is/was your prez on your watch that brought us to the brink of disaster. If Neocons and Republicans feel, or want to appear, they can run things better than Obama they need to be reminded they had their chance, instead they lead this farce of "country first," and proved unqualified for the job.



They should be EXTREMELY embarrassed and ashamed the ones they get behind to "lead" are always the ones dumb as a box of rocks. They should hide their face in disgrace THEIR leader has left this mess for others to clean up. Instead they dig deeper by attacking a man who won a MANDATE in every way. So powerful even some of their own voted for him. So step aside and watch what a REAL leader can do. They may learn something. Heck, he's already shown them how to run a campaign.

Answer 5

The wages of familiar workers have been stagnant over the final thirty years, on a similar time as expenses of residing have sky-rocketed. So sure, issues have replaced for the extra severe, although that's no longer the fault of all and sundry President. although issues are transforming into worse for the familiar American, you would be no longer common pressed to locate yet another usa that values human rights and the rule of regulation outdoors of the US. Europe is probable the only exception, yet they are maximum in all probability getting into an financial melancholy at present.

Answer 6

Yet, it is the Federal Reserve who has absolute control doing this, the Congress or Federal government don't have any power to stop them, they are dancing puppets of the Federal Reserve. We will sink down fast, not to mention even faster with the weaknesses of the Dollar. Take care.

Answer 7

We've been torpedoed, especially after the 7 trillion just issued by the Fed... intended to "FIX" (a.k.a. worsen and finish) the crisis. The banker takeover bill, and the subsequent issuance of credit, was the DEATHBLOW!!!



We'll take about 2 years to sink. Good luck!



EDIT: Deuce, to finish your sentence, that's traditionally called Corporatism or Fascism.

Answer 8

It is getting pretty excessive. In theory the government will be repaid later. If things keep going wrong though I can see a major disaster ahead. If we were to go into a bad depression, lost all the bailout money to failing companies, and had this huge debt... I can't even imagine the consequences.

Answer 9

Is it time to sink the tea in the harbor. This does not make sense to me. If you want consumer spending to increase and these companies/banks/automakers/etc. to see the light at the end of the tunnel, does it not make sense to give the money to the consumers?

Answer 10

SUNK. But not entirely because of our debt. It's because congress ignores the public that they're supposed to represent. The people don't want these bailouts. IT'S TAXATION WITHOUT REPRESENTATION, all over again.

Answer 11

What part of "The Fall of The Roman Empire" don't you understand?



Everyone is bi*ching about the status of the American Economy. If you think it is bad now, ha, wait till next summer, then 2010. You'll Sh*t yourself. lol

Answer 12

My only comment is that this country doesn't want free college education or free health care because that would be socialism, but this country is ready and willing to bail out multi-millionaires who made horrible, stupid, greedy mistakes. And that's called....

Answer 13

They are printing it at this new place in SF, called the. . . . . .



GW Bush Sewage Treatment Plant

Answer 14

Here's another way to look at those numbers:



If you could spend one dollar every second, then it would take about 4 months to spend one million dollars. It would take 31.7 years to spend one billion dollars. And it would take roughly 31,710 years to spend one trillion dollars.



Right now the US has a $10 trillion debt -- at one dollar a second it would take 317,100 years to spend that.

Answer 15

America is dead dude. Time to move to China or India...55 trillion in entitlements is no laughing matter....Jacob schiff

Answer 16

ever seen the movie "titanic" america is that boat at the bottom of the ocean at the start of the movie

Answer 17

Bankers are far from incompetent; bankers save money, they do not give it away.



Answer to question: Chelfi,

to stimulate the economy the money needs to be given to citizens, not the banks.



citizens spend the money on the free market (stimulus), pay for services or products that are sound and affordable as well as marketable, and this causes the establishment and maintenance of good businesses. Poorly operated businesses naturally go bust.



It's the citizens that spend the money on the free market that stimulate the economy.

Answer 18

In the words of the radio operator on the Titanic "SOS".

Answer 19

We produce $13 trillion every year.



Why are you worried?

Answer 20

THEY WILL BE BLOWING TAPS SOON