I found this chart at the New York Times. It totals up all of the money already committed to bailouts by the United States Government. It also shows the total amount of this money that has already been spent on bailouts of private sector industries by the government.
According to this chart, the US Government has committed $8,800,000,000,000 [$8.8 trillion] to these bailouts. Of this, the government has already spent about $2,000,000,000,000 [$2 trillion].
This is insane. The $2,000,000,000,000 [$2 trillion] equals $6,666.66 per American. $8,800,000,000,000 [$8.8 trillion] in total bailouts adds up to a total of $29,333 per citizen of this country!
But, this money doesnt even include the $152,000,000,000 [$152 billion] “stimulus” last year or the $787,000,000,000 [$787 billion] bailout recently passed. If you add those two bills to the total, the total swells to $9,739,000,000,000 [$9.739 trillion].
This equals $32,463.33 per American!!!
This amounts to about 3/4 of the annual US GDP and is nearly enough to double the national debt. And, as Mr. Obama and others have reminded us, there is no guarantee that this will work.
The government just cannot justify spending this much of its citizens’ money on bailouts and “stimulus” that has no guarantee of working.
This is money that has to be paid back. It will be paid back by Americans in the future. Including the current national debt and the money that will be added to the debt due to these new bailouts and “stimulus” bills, a child being born today is born saddled with approximately $65,000 in debt.
We are selling our children into slavery for bailouts and “stimulus” bills that may not even work.
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