The Heritage Foundation reports that the true cost of the so-called "stimulus" is going to be $3.27 trillion. That's right, President Obama's bloated bailout boondoggle is going to cost four times the already outrageously expensive $789 trillion Senator Susan Collins finds "fiscally responsible."
Here's the skinny from Heritage:
All of the major news outlets are reporting that the stimulus bill voted out of conference committee last night has a meager $789 billion price tag. This number is pure fantasy. No one believes that the increased funding for programs the left loves like Head Start, Medicaid, COBRA, and the Earned Income Tax Credit is in anyway temporary. No Congress under control of the left will ever cut funding for these programs.
So how did Heritage come up with $3.27 trillion? The Congressional Budget Office estimated the impact of permanently extending the 20 most popular provisions of the stimulus bill bailout boondoggle.
The true 10 year cost of the stimulus bill $2.527 trillion in spending with another $744 billion cost in debt servicing.
The total bill for Obama's truly bloated bailout boondoggle is $3.27 trillion.
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So our $500 tax cut has now been pared to $400.
I remember these words distinctly from Mrs Obama during the campaign.
“You’re getting $600. What can you do with that? Not to be ungrateful or anything. But maybe it pays down a bill, but it doesn’t pay down every bill every month.."
What a **tch.
CNN,NBC,ABC,MSMBC,CNBC,GE,CBS,NEW YORK TIMES, WASHINGTON POST,L.A.TIMES, ARE ALL MARKETING ARMS OF THE DEMOCRATIC PARTY. CALL IT LIKE IT IS PLEASE AND GET THIS TO FOX NEWS AND LOU DOBBS.
Insightful analysis. Thank you,Dan.
It not a matter of politics, it is a matter of survival.
The American People have elected to the office of the President a “Pied Piper” who draws his power from the “dark side.
He and his followers are well on their way of changing America from a freedom loving, constitutionally bound, entrepreneurial, giant into a dictatorially controlled nation.
Our Founding Fathers through our Constitution gave power to the “people” and limited the powers of the elected few.
Under President Obama, power is changing hands by way of new laws and inordinate taxation of the family unit.
He is driving future generations into the slavery of massive taxation without representation.
There are evil people in every society that must be contained.
We are now in the “Perfect Storm” of envy, greed, immorality and class warfare, conducted by Obama.
He is the master of deceit. His tools are the lie, spreading fear, the false promise, and the rewriting of our Constitution through the judiciary.
Like many despots before him he has little regard for the sacredness of life.
He has many, many, enablers: the Media Dupes, the political “want-to-be”, and the naïve who have not studied history.
His acts are immoral clothed in positive rhetoric.
His goal is a socialist paradise controlled by the elitist few who have no regard for religion or justice.
He is doing everything in his power to encourage dependency on government. This is a personal job security program for politicians.
When you look at his acts and ignore his false rhetoric, you see the evil of his intent.
He is seducing the foolish of all classes into thinking that he is “their messiah”, who will end their suffering.
When in truth, he is leading them to perdition.
Don't confuse "bailout" with "stimulus". It sounds like you're making a partisan effort to tar Obama with the Bush administration's bailout plan.
So, you read a short article from an obviously right-leaning web-page (yes, you did NO research yourself, just re-posted someone else's findings, REAL impressive), which states that if these changes are extended for ten years, then it will cost more?
And that's what counts as proof for you conservatives? Speculation? Examining a situation for the worst possible outcome 10 years in the future and then making a blanket statement that it is the TRUTH?
Wow, no wonder our country can't get anything done, when one half of it simply makes up "facts" to make sure the other side looks bad.
The fact of the matter is, the bailouts didn't work, and in fact did cost Hundreds of millions more than what was stated. But, wait as the three major media networks reported... we did recently create over 200,000 new jobs... but wait! They forgot to mention that during his admin to date over 2 million jobs have been lost... Gee, why wasn't that mentioned? Must be the "right leaning" people right?
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