They Told Me Obama Would Pay For Everyone’s Mortgage And They Were Right

10 02 2009

Remember, Obama overflowing with hope says, “we have nothing to fear, but…catastrophe!”

From Bloomberg:

The $9.7 trillion in pledges would be enough to send a $1,430 check to every man, woman and child alive in the world. It’s 13 times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office data, and is enough to pay off more than 90 percent of the nation’s home mortgages.

The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged up to $5.7 trillion more.

Only the stimulus bill to be approved this week, the $700 billion Troubled Asset Relief Program passed four months ago and $168 billion in tax cuts and rebates enacted in 2008 have been voted on by lawmakers. The remaining $8 trillion is in lending programs and guarantees, almost all under the Fed and FDIC. Recipients’ names have not been disclosed.

Flashback Vid

By the way, this is what ONE billion dollars looks like…when it’s only comprised of Ben Franks.

billion-1


UPDATE: GatewayPundit links to the new CBO, which projects the recession to be over before 9/10ths of the money actually gets used…meaning only 1/10th is for this year…much of it is for Obama’s re-election in 2012.

UPDATE: NRO’s Corner shows how the bill has grown from when it was just a wee-lil baby ($56Bil) last September.

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3 responses

11 02 2009
davidi

Why haven’t we seen his REAL birth certificate yet? Do we even know if he is a true American citizen?

11 02 2009
outoftheblu

american citizen…almost positively.
natural born citizen…positively questionable.

11 02 2009
bj

Does anybody really know what a trillion dollars is. what kind of money the new spending package really is?
the day jesus was born, you pay 1 million dollars each and every day, for 2009 years.

do the math, it doesnt even come close to 1 trillion.

now THATS scary.

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