11 minutes ago
Monday, November 10, 2008
Feds Refuse to Identify Over $2 Trillion in Illegal Loans
Anybody who thought the $700,000,000,000 bailout was the end of massive misguided government handouts to failed businesses under the cloak of helping our economy should prepare to be disappointed - according to Bloomberg, the Feds have squirreled away nearly $2,000,000,000,000 of our tax dollars and, as usual, don't feel any particular need to share the specifics with us. (And don't worry - Barney Frank plainly doesn't feel penitent for his hand in this.)
Here's a mere $315 billion for reference (from here):
The miniscule dot near the corner of the stack is a person. The larger shape is a car. This stack is 450 feet tall (38 stories) and 25,000 square feet in area. To turn it into 2 trillion dollars, either imagine 6.4 stacks just like this, or enough dollar bills to wrap around the Earth's equator 5.1 times. That's how much your government is taking (actually, let's just call it "stealing").
Alternatively, you could use $20 bills and merely imagine a football field buried in sixty-three feet of cash, or 300 dollars for every single person living on this Earth. That's not quite as bad, right?
The stack depicted in the image represents only the cash spent on the wars in Iraq and Afghanistan, money the president is legally authorized to approve (I won't get into the ethics of this spending today). This $2 trillion, on the other hand (let's write it out again: $2,000,000,000,000) is not only unethical and shortsighted, but completely unconstitutional.
And does anybody really think that this type of thing will stop under any administration?