Monday, November 24, 2008

Where Are We Getting All This Money?

We're going to have spent in the neighborhood of $8 trillion over the course of 2008-2009, notwithstanding any unpredicted actions. About $6 trillion of this will be our budget, already bloated and filled with pork as it is.

We spent $150 billion on a stimulus plan earlier this year, spent $700 billion on the real estate bailout and are considering $25 billion for the Big Three. We're looking at a major recession and the deficit growing on its own.

Now we have word of a new stimulus plan that may reach $700 billion more? In addition, Obama may not repeal Bush's tax cuts? So where's the extra revenue coming from.... some of this doesn't seem kosher.

1 comment:

Anonymous said...

We're borrowing it from China