Monday, November 24, 2008

Will There Be Anything Left to Bailout Christmas?

$750 billion to bailout toxic mortgages and unfreeze the credit markets.

Add another $150 - 200 billion in pork projects.

Ford, GM and Chrysler want $25 - 50 billion to tide them over.

Citigroup already received $25 billion and is getting another $20 billion "infusion."

Now the major TV networks are claiming they may need a bailout too because ad revenues are starting to decline.

This weekend the Democrats in Congress began tossing around figures for yet another economic stimulus package to have on the president's desk on Jan. 20th (I presume it will arrive after 12 noon Washington, DC time).

The price tag on that is between $300 - 500 billion. Today.

And we've not even celebrated Thanksgiving yet.

The economic crisis has already erased over $23 trillion in assets from the books and brought down 3 major Wall Street firms.

The current tab for the bailout program as calculated by the Fed, Treasury and FDIC is $3.8 trillion with the final bill estimated currently at a whopping $7.4 trillion.

Our money.

Will anything be left to bailout Christmas because Christmas is too big to fail!

Maybe someone can point me to where the end of the bailout line is. Since everyone else is getting help, I'd like to get my bailout, too.

Unless I'm too little to fail.

Because like most U.S. taxpayers, we don't really matter.

Only our money matters.

To those we elected to represent us, but who instead spend like there's no tomorrow.

To save those too big to fail.

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