The Mugging of America

[go west young man]

http://www.lewrockwell.com/orig9/quinn8.html

This has been a remarkable year. The United States has taken actions that will change our country forever. They have taken these actions without citizens voting or Congress passing any laws debated upon in public view. These actions have taken place behind closed doors and in conjunction with the bank CEOs who caused the problems. A multi-millionaire former investment banker, former professor of economics, and our 1st Harvard MBA President have committed at least ONE TRILLION of our future tax dollars to bailing out greedy incompetent criminal millionaire investment bankers. They have done this to avert an Armageddon type financial meltdown. I’m reminded of the rhetoric about weapons of mass destruction before our attack of Iraq. We needed to attack to avert a future nuclear holocaust. Why should we believe them now? Hank Paulson and Ben Bernanke’s commitment of your grandchildren’s future so far is as follows:

Bear Stearns Rescue
$29 billion
Tax rebates to Americans
$168 billion
Fannie Mae & Freddie Mac nationalization
$300 billion
AIG nationalization
$85 billion
Government taking bad debt off the books
$700 billion
U.S. banks

FUTURE GENERATION’S BILL
$1,255,000,000,000

Remember, when the government gives you an estimated cost, it is always prudent to multiply it by 10 to get closer to the truth.

Let us be perfectly clear. The U.S. government has no money. We entered this week with a National Debt of $9.65 trillion. The deficit for next year will surpass $600 billion. Every dime of these bailouts will be borrowed. They will be borrowed from China, Japan, and the Middle East. In an effort to keep our corrupt financial system afloat, we have sold another piece of our country. The prestige and status of the U.S. in the eyes of the world community have suffered a catastrophic non-reversible decline in the last nine months. "We The People" had absolutely no say in this decision.