Tuesday, February 24, 2009
Posted by: Michele Bachmann at 5:50 PM
You've heard me recount a Bloomberg report that said with the passing of the economic stimulus package, you the taxpayer-- will be on the hook for $9.7 trillion dollars in total government commitment to carry out all the economic bailout/stimulus/relief plans of the past year.

This is what Bloomberg reported earlier this month:

"The $9.7 trillion in pledges would be enough to send a $1,430 check to every man, woman and child alive in the world. It’s 13 times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office data, and is almost enough to pay off every home mortgage loan in the U.S., calculated at $10.5 trillion by the Federal Reserve."

Well, now it's gotten even worse. In just two weeks, Bloomberg has been forced to revise its analysis and increase that burden by almost $2 trillion. Bloomberg issued another report today that now raises the federal commitment to $11.6 trillion. That's real money, money that future generations have to pay for.

The spending spree has to stop, and I've joined with House Republicans in calling for a spending freeze. If families across America are tightening family budgets and cutting expenses, Washington must learn to do the same.



View in ascending order View in descending order
Vampire's Reflection writes: Tuesday, February, 24, 2009 5:57 PM
Hardly.
Spending freeze? Please.

How 'bout spending cut.

Cut federally spending in half, abolish the IRS and repeal the amendment that elects Senators by popular vote and then you might convince someone you are serious.

The Great Satan™ writes: Tuesday, February, 24, 2009 5:58 PM
.................
When future generations find out what obama and the donks have done they will exhume their corpses and set them on fire.

To terrorists worldwide, if you kill our democrat politicians we will not retaliate; we will be grateful.
vonryansexpress writes: Tuesday, February, 24, 2009 6:00 PM
Forget the future generations lament.
It us that I cry for. Those of us alive today, those in their teens, thirties, fifties, seventies, etc.

Being saddled with debt for spending that is unbridled, unchecked and unworthy affects the quality of life of all of us alive today.

Is it true that we will be sending money to Gaza that comes from the stimulus bill?

If it is, I'd prefer that oil saturated arabian states take care of Gaza. We won't derive 'emo' value from Palestinians for good works. Let Saudia and the Gulf States take care of the poor in their sphere.

vonryansexpress writes: Tuesday, February, 24, 2009 6:00 PM
Forget the future generations lament.
It's us that I cry for. Those of us alive today, those in their teens, thirties, fifties, seventies, etc.

Being saddled with debt for spending that is unbridled, unchecked and unworthy affects the quality of life of all of us alive today.

Is it true that we will be sending money to Gaza that comes from the stimulus bill?

If it is, I'd prefer that oil saturated arabian states take care of Gaza. We won't derive 'emo' value from Palestinians for good works. Let Saudia and the Gulf States take care of the poor in their sphere.

AmericanSentry  writes: Tuesday, February, 24, 2009 6:15 PM
Soviet Union; 1990...is it our turn?
This erosion of fundamental American core competencies and values, and the nationalizing of our institutions is unprecedented...is this what the Soviets were feeling as "freedom" was breaking out throughout Eastern Europe and eventually the Soviet Empire?...The irony is, we are becoming de facto socialist, just as the Soviets were forced by circumstance to abandon theirs...and we sit back and watch..shame on us!
Tazzmax writes: Tuesday, February, 24, 2009 6:23 PM
Vampire.
Amen!
Vampire's Reflection writes: Tuesday, February, 24, 2009 6:23 PM
I love how
I love how Republicans take zippo responsibility for the last 8 years and blame everything on Democrats.

It's tiresome, really. And hackneyed.

Republicans are stone cold crazy if they think they can ever be re-elected simply by the fact that Democrats will fail and they can pin the tail on the Donkey.



The Great Satan™ writes: Tuesday, February, 24, 2009 6:32 PM
.................
----I love how Republicans take zippo responsibility for the last 8 years and blame everything on Democrats.----

Unlike you braindead obama sycophants we routinely criticized Bush. Now get back to sodomizing your obama blow-up doll.
mattma writes: Tuesday, February, 24, 2009 6:46 PM
You said what?
----I love how Republicans take zippo responsibility for the last 8 years and blame everything on Democrats.----

I love how the followers of the DSA Party fail to take responsibility for the economic down turn for the past two years. After all he who has the leadership in the House of Reps, controls the nations purse string.
Stoic Patriot writes: Tuesday, February, 24, 2009 7:02 PM
Adopt OTOPO
Ms. Bachmann,

How about encouraging the Republicans to adopt an "OTOPO" (One-To-One-Point-One) rule when they case their votes? That is, for every $1.00 in new spending, demand that there be a spending cut of $1.10.
Stoic Patriot writes: Tuesday, February, 24, 2009 7:03 PM
Edit
Cast, not case their votes. I'm sounding more like an illegal immigrant every day!
Raelei writes: Tuesday, February, 24, 2009 7:04 PM
How much from Pres. Bush's spending?
Let's be honest and consider just how much President Bush and his GOP racked up while they were in office and the majority for nearly a decade. How much of the trillions spend in Iraq actually didn't fall into a corrupt contractor's pocket, or completely disappear? How much of the trillions that President Bush doled out in tax cuts to the wealthiest actually trickled back down to the stagnating income of all the rest of us?

President Bush and the GOP walked into the White House in 2001 with a half billion in surplus and what happened to that money? President Bush quickly turned a surplus into a deficit and gave us the largest deficit in American history. THAT is something the GOP and Townhall NEVER seem to talk about, and yet, when it comes time to bail out the country the Republicans have very nearly destroyed, all you can do is whine.

We all can't wait to hear what Jindal will whine about once the President speaks tonight. It's becoming a drinking game joke where the GOP is the loser.
Homer writes: Tuesday, February, 24, 2009 7:04 PM
Vampire's Reflection writes:
"I love how Republicans take zippo responsibility for the last 8 years and blame everything on Democrats.

It's tiresome, really. And hackneyed."

Refect on this, you hackneyed, tiresome moron:

2001 Bush Administration warns of FM and FM financial problems which could have serious financial repercussions.

2003 Bush Administration warns that the financial condition is now at a point where it could become a systemic risk.

2003 Bush Administration pushes congress to establish federal agency to supervise and oversee FM and FM GSEs.

Treasury Secretary John Snow calls for new oversight of GSEs

Barney Frank responds that FM and FM "are not in a crisis" that more should be done to get low income people into homes. Frank says that too many people have a “sky is falling mentality” and that the GSEs are fundamentally sound.

The legislation was blocked by the Democrats.

2006 Allan Greenspan testifies that our financial system is at risk and something must be done or we face insolvency.

Chuck Schumer says that FM and FM did a wonderful job.

John McCain co-sponsored legislation on Senate floor for greater regulation of GSEs and all Democrats voted against it in committee.

Democrats were opposed to regulation and oversight of GSEs and nothing was done because they wanted to continue writing mortgages to people who could not afford them.

Obama said nothing.

The democrats plundered our economy ever downward into our current financial mess.


miss vicky writes: Tuesday, February, 24, 2009 7:37 PM
'O' IS BIG ON SPENDING OUR $$, NOT HIS!
'O' AND JOE BOTH CHEAPSKATES1 Just check out their charitable donations over the past years.
Can they afford their 1 and 3% given to share the wealth? Guess with all their millions and privilege, they couldn't spare more then a pittance or care enough! Obama and Nancy have no problem with picking our pockets, yet they have the gall to fault Bush for his deficit spending etc,. At least middle America did fare well enough, for at least 6 Bush years. Now all Americans will be adversely affected, with this excessive stimulus bill, when the fiddler has to be paid after the Liberal spendthrifts over indulgence, at our peril! Ex Democrat
foxmustang writes: Tuesday, February, 24, 2009 8:05 PM
Of the last 16 years
the economy was really good in 12 of those. The years of prosperity are generally recognized as 1995 through the begginning of 2007. Those 12 years were the last 6 of Clinton's 8 years and the first 6 of GWB's 8 years. Logical conclusion is that maybe it's not so important which political party the POTUS is a member of.
BUT........it does seem to point to the fact that it IS important who controls Congress.
You see.......the Republicans took control of Congress in Jan 1995 and lost control back to the Dems in Jan 2007.
YES!!!!.......the economy did "tank" after Pelooser, Reidiculous and the other liberal Congressional Dems assumed majority status.
Go ahead lefties..........I'm sure you have some spin for those FACTS.
Retired Lady writes: Tuesday, February, 24, 2009 8:33 PM
Isn't it
interesting that those 2 fools, Frank & Dodd, assured the W admin that Freddie & Fannie were SAFE! Now, we have the housing crisis which precipitated the melt down of the markets and we must continue to fund more and more for the insatiable appetites of the libs, so they jump-start the economy! And then there's Schumer saying, Americans don't care about the incidental pork!!!!
Could Pelosi & Schumer be related?

Vamp Re--do the names Frank and Dodd ring a bell or Raines & Johnston (Fannie & Freddie)?

Raelei, This porker is now 11.6 trillion! That is 13 times the price of BOTH the Iraq & Afghan wars! As another poster pointed out---the House (Pelosi & clowns) controls the purse strings as witnessed in their avarice for MORE!

Homer, well said!
Cheryl writes: Tuesday, February, 24, 2009 11:03 PM
President's speech
We are being destroyed from within - aren't our enemies happy!

Just wait - in about six month we will hear we should repeal the term limit for the president - after all the messiah must have ALL the time he needs in the world to destroy our beloved country!!

I am sick at heart at what I am leaving my eight beautiful grandchildren - they will be paying 75% of their income (or more) to pay for this insanity.

I cannot listen to the missiah - he makes me sick to my stomach. PLEASE GOD HELP US ALL!!
Vince P writes: Wednesday, February, 25, 2009 7:51 AM
Republicans - Drastic Action Needed
Republicans have to do more than Business as Usual.

THe Marxists are rapidly destroying our domestic and foreign systems.

I would say the GOP should walk out of Congress until Obama establish his credentials to be President.

By showing a US Birth Certificate

As well as explaining why his father not being a US Citizen shouldn't disqualify him as being a Article II Natural Born Citizen
Nee writes: Wednesday, February, 25, 2009 8:16 AM
Raelei, Monkey Girl 2
THERE WAS NO SURPLUS. IT WAS NOTHING MORE THAN DEBT SHIFT! From a paper I wrote:

A Mises.org and Grove City College Econ man said, "..."A budget reflects a president's aspirations and hopes, his wishful thinking as well as his philosophy of politics. It's a mixture of financial planning and political campaigning in which fiscal legerdemain knows no limitations of party or time. The federal budget surpluses since 1998 are no exception to the rule. They obscure significant federal expenditures through bookkeeping gimmickry, such as borrowing new money to pay off old loans and calling it "debt reduction."
Imagine a corporation suffering losses and being deep in debt. In order to boost its stock prices and the bonuses of its officers, the corporation quietly borrows funds in the bond market and uses them not only to cover its losses but also to retire some corporate stock and thereby bid up its price. And imagine the management boasting of profits and surpluses. But that's what the Clinton Administration has been doing with alacrity and brazenness.
Nee writes: Wednesday, February, 25, 2009 8:16 AM
raelei, Monkey Girl 2/pt2
It suffers sizeable budget deficits, increasing the national debt by hundreds of billions of dollars, but uses trust funds to meet expenditures and then boasts of surpluses which excites the spending predilection of politicians in both parties.
If a corporation executive were to engage in such deceit, the Commissioners of the Securities and Exchange Commission (SEC), who are supposed to promote full public disclosure and protect the investing public against malpractice in the securities markets, would intervene with severity; when a president of the United States and his appointees engage in similar practices, all his men fall silent.
The surplus deception is clearly discernible in the statistics of national debt. While the spenders are boasting about surpluses, the national debt is rising year after year. In 1998, the first year of the legerdemain surplus, it rose from $5.413 trillion to $5.526 trillion, due to a deficit of $112.9 billion. Since then it has risen to $5.643 trillion today, October 15, 2000, with another deficit of $117 billion. "

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