Tuesday, January 6, 2009

$8 trillion and counting

An article on CNNmoney.com claims that the bailouts currently total $7.2 trillion, and when Obama's proposed fix is applied a little later this year, that figure will swell to $8 trillion. Of course, these are estimates, and when government is involved they're usually low. "That puts a lot of taxpayer money at risk," the article mentions with head-spinning analytical prowess. Taxpayer money? Since when has the government looked at the money it spends as belonging to the taxpayers?

But that raises another question: Where is all this loot coming from? Has the government raised taxes to pay for these bailouts? No. They're either going to borrow it from foreigners or print it. In other words, they're going to send the bill to future generations.

Little wonder that Ron Paul's candidacy sparked a revolution, especially among young adults.

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