More Bailout News!

Just as with everything government does the bailout situation is getting out of hand. It's hard to even keep up with how much money our government is spending. The government already voted for a $700-$850 billion dollar bailout. It looks like in the end they will pump a $25 billion dollar loan into the auto industry, and we may be in for another $800 billion dollar bailout with Obama wanting another $500 billion dollar bailout in stimulus for taxpayers. Ok guys, if you do the addition that's $2.1 trillion dollars. When Bush took office, the debt was about $5 trillion, it was going to be around $9-10 trillion after Bush's failed "war on terror" but by the middle of 2009 it looks like the national debt will be around the $12-13 trillion mark. I included a link from CNN below so you can see the confusing breakdown of money spent so far.

The economy is going to struggle in Obama's first term because he is proposing many of the same failed idea's that FDR proposed in his New Deal. Obama and the media refuse to understand that the governments revenues goes up when Capital Gains tax is lowered, and if a cut in government spending is coupled with lowered taxes the economy will reap great benefits. Obama also refuses to believe that redistribution of wealth is a Socialist prinicple. And this guy is supposed to be the savior of America? Forgive my lack of faith.

http://money.cnn.com/2008/11/25/news/economy/where_bailout_stands/index.htm?cnn=yes

Yours in Liberty,
Nate