2009 ARTICLES: BAILOUTS & GOVERNMENT WASTE
|READY TO PAY FOR GOVERNMENT WASTE? $11 Trillion in Bailouts. Billions in Bribes.|
BAILOUT SUMMARY (List of bailouts through 2009)
$11 for TRILLION IN PROMISED BAILOUTS:
$700 billion for TROUBLED ASSET RELIEF PROG. (TARP) SUBTOTAL
$6.2 Trillion for FEDERAL RESERVE RESCUE SUBTOTAL
$1.1 Trillion for STIMULUS (BUSH & OBAMA) SUBTOTAL
$20.7 billion for BANK TAKEOVERS SUBTOTAL
$1.7 Trillion for OTHER FINANCIAL SUBTOTAL
$112 billion for OTHER AIG ADDITIONAL SUBTOTAL
$745 billion for OTHER HOUSING TOTAL
….check the breakdown….
OBAMA’S BUDGET PROPOSAL for fiscal year 2010
Obama’s budget will waste taxpayer money:
NEGATIVE IMPACT OF OBAMA’S BUDGET
(Ronald Reagan left office with the national debt at 42% of GDP).
Reagan’s largest budget deficit of $221 billion, which caused so much consternation among Reagan’s critics.)
federal budget deficit alone! (Under George Bush, the federal deficit for 2008 was 3.2% of GDP. The deficit for fiscal year
2007, in the last budget adopted when Congress was controlled by Republican majorities, was $162 billion, or 1.2% of GDP.)
But the top 5% of income earners (those making over $145,283) already pays 60% of all income taxes.
Bottom 50% of income earners pay about 3% of the national income taxes.
energy tax on the production and use of carbon energy, such as oil, natural gas, and coal.
actually represents the troop drawdown in Iraq, which was already scheduled to occur under the Bush administration.
Of the remaining $500 billion in budget “savings,” fully $311 billion is categorized as “interest savings” but
is actually an additional tax increase on upper income earners.
1. Taxes. Most government spending is financed by taxes, and high tax rates reduce incentives to work, save, and invest —resulting in a less motivated workforce as well as less business investment in new capital and technology.
BIG-EARMARK-OBAMA: IT’S RAINING THIEVES
9,000 EARMARKS: Obama promised no earmarks, but he just signed the Omnibus Bill which includes almost 9,000 earmarks – all going to pay politicians’ special interest groups:
$6.6 Million for termite research
$5.8 Million for Ted Kennedy Institute for the Senate
$5.0 Million for sugarbeet/avian disease
$3.8 Million for tiger stadium
$2.7 Million for wood education (??)
$2.2 Million for grape genetics
$1.9 Million for a Pleasure Beach water taxi service project
$1.8 Million for PIG & MANURE ODOR
$1.7 Million for Honey bee
$1.2 Million for Citrus canker (which doesn’t affect the fruits)
$1.0 Million for Crickets
$819,000 for catfish genetics
$800,000 for oyster rehabilitation
$473,000 for leftist National Council of La Raza (The Race)
$469,000 for Fruit Fly
$380,600 for Carbon Neutral Green Campus
$300,000 for GO GIRL GO! (???)
$250,000 for Lobsters
$225,000 for EVERYBODY WINS! (???)
$209,000 for Blueberry improvements
$200,000 for TATTOO REMOVAL
$100,000 for READY WILLING & ABLE (??)…and more […]
|AIG-OBAMA: LAUNDERING OUR MONEY?
AIG donated money to politicians. Politicians facilitated bailout money for AIG. AIG then distributed bailout money to other banks in USA and abroad.
Also: Bonus Loophole that allowed AIG bonuses in H.R.1 under section 7001 ‘Executive Compensation and Corporate Governance’:
Government Printing Office, go to page 404. ReadTheStimulus.
Library of Congress (Thomas), select H.R.1.ENR, then DIVISION B, TITLE VII, SEC. 7001(b)(3)(D)(iii).
|…and more […]|
CUBA COMES TO AMERICA!!
OUR SENATORS SELL OUR FREEDOM
U.S. Senate just approved Obama’s ‘Stimulus’ Bill which will keep us in debt for generations. As if that is not enough, the Senators added Universal Health care in the bill.
The Vote: Final passage vote: 61-37
Who betrayed us?…….and more…[…]
COJONES back in GOP. Thank you!
All Republicans & 11 Democrats voted in a bi-partisan way….against it!
…see how your legislators voted…
|STIMULUS BILL (a.k.a BRIBE $850 Billion Bill, or PORKULUS)
STIMULUS (BRIBE) PACKAGE BEING RAMMED BY OBAMA
*THE NEW $825 BILLION PROPOSAL (PLUS $346 BILLION IN INTEREST) INCLUDES MORE WASTE:
$21 Million for sod
$200 Million for the National Mall
$600 Million for new cars for the federal government
$650 Million for digital TV coupons*WHY SPENDING DOES NOT STIMULATE THE ECONOMY
$ 50 Million in funding for the National Endowment of the Arts
$ 44 Million for repairs to U.S. Dept. of Agriculture
$ 75 Million for smoking cessation
*WHY SPENDING DOES NOT STIMULATE THE ECONOMY
*WHY CUTTING TAXES TO AMERICANS & BUSINESSES IS BEST
*WHY WE CANNOT AFFORD OBAMA’S DEBT PLAN
*WHY FDR’S NEW DEAL = RAW DEAL….and more facts…
|Why the U.S. Automakers Failed:
1) Union Workers were paid to NOT work
But only $215 for Toyota
● Retire after 30 years of service, irrespective of age
● Seven weeks vacation
● Supporting More Retirees Than Active Workers
3) Idiotic government standards
● Making cars that Americans won’t buy
4) Excessive government interference
● Automakers have to pay for facilities they don’t use to support revenue bonds for municipalities
● State laws protect dealers from termination
BANKRUPTCY WILL ALLOW FOR:
● Labor contracts & pension plans to be renegotiated
BAILOUTS LIST – thru Nov. 2008
BAILOUTS Promised thru Nov. 2008….$8 TRILLION
MORE GOVERNMENT TAKEOVER – TAXPAYERS WILL HAVE TO PAY FOR IT.
click image to enlarge
COSTS: 2008 BAILOUTS vs. WARS
COST OF BAILOUTS IN 2008 (incomplete list)
● $152 Billion The Stimulus Package
● $29 Billion Bear Stearns
● $9 Billion IndyMac Bank seized by Federal Reserve
● $42.5 Billion Housing & Economic Recovery H.R. 3221
● $200 Billion Fannie Mae and Freddie Mac Takeover
● $87 Billion Lehman Brothers: repayments to JPMorgan
● $70 Billion Lehman Brothers
● $85 Billion AIG Bailout
● $50 Billion Money Market Mutual Fund Backings
● $700 Billion Bad Loans Bailout
$1.5 TRILLION DOLLARS (estimated)
COST OF WARS
COSTS OF MAJOR WARS (2008 dollars for total cost for duration of that war and their costs as a percentage of GDP in each of their peak years)
● World War II . . . . . . . . . . . . . . . . . . . .$4.1 Trillion (35.8% of GDP)
● Vietnam War . . . . . . . . . . . . . . . . . . . .. . $686 Billion (2.3% of GDP)
● Iraq war . . . . . . . . . . . . . . . . . . . . . . . . $648 Billion (1% of GDP)
● Afghanistan/ Global War On Terror . . . $171 Billion (0.3% of GDP)
● Post 9/11 domestic security . . . . . . . . . $ 33 Billion (0.1% of GDP)
…and more […]
|* Status of Appropriations Legislations|
|* Senate Roll Call votes|