Monday, October 20, 2008

If at first you don't succeed

I've lost count on how much money the government has printed to stimulate the economy. Let's see there was the $700B bailout. There was the $30B Bear Sterns bailout. There was the $150B stimulus package. There was the $300B mortgage bailout. There was the other $300B bailout of Fannie and Freddie. There was the $85B bailout of AIG. Am I missing anything? Probably another few billion here and there. But so far we have close to $1.5 TRILLION - that trillion with a T.

All that spending and yet today there is news that both Bush and Pelosi are on track for yet another stimulus package to the tune of $300B. Because since the first $1.5 trillion has been a complete failure, the next $300B will work. Makes sense to me. And this stimulus will once again send tax rebate checks to those that don't work and send nothing to those that make too much money, which last time around was defined as anyone making $150K a year. Which is odd since according to Obama, one has to make $250K a year to be considered rich. Maybe Barry will cut us sorta, but not quite rich folk a break this time around and send us some stimulus check action as well. How about it Barry, can you help an upper middle class brother out?

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