If you are a regular reader, you will remember that I wrote earlier that the total amount committed to the bailouts by the government equaled $8,800,000,000,000 [$8.8 trillion].
Thats a ton of money–to put it lightly. But, unfortunately for your wallet, it didnt end there.
Bloomberg recently reported that “[t]he U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion” over the past 20 months. “The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.”
This means that in the past 20 months, the government has committed about 90% of our country’s GDP to bailouts and “stimulus.” [emphasis added by me] Roughly 1/3 of this money has already been spent, while the remaining 2/3 has been committed but not yet spent.
The article breaks the spending by category. This is pretty scary stuff. Please pass this along to your friends and family. Also, get involved. There are Tea Parties coming up across the country on April 15th. The Facebook group representing the Tea Parties has over 24,000 members. We are expecting between 5,000 and 10,000 protesters in Atlanta for next weeks event. These protests are being held in cities, both large and small all across the country. Here is a map listing the locations of many of them. Join the struggle before they spend another $42,105 of your money!
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