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11-24-08, 09:49 PM #1
Chuck Schumer (D) wants to double the size of the financial bailout package. For those of you keeping score at home, that's 1.4 trillion
WASHINGTON (Reuters) - An influential U.S. Senate Democrat said on Sunday a large economic stimulus package of up to $700 billion was needed to lift the American economy out of its current downturn.
Sen. Charles Schumer, a New York Democrat who is part of the majority leadership team in the Senate, told ABC's "This Week" that an economic recovery package between $500 billion and $700 billion is needed and could be ready by the time President-elect Barack Obama takes office on January 20.
"In my view it has to be between five and seven hundred billion dollars," Schumer said.
11-25-08, 11:47 AM #2
We'll be paying this crap off until I'm ready to retire and I'm only 23.
11-25-08, 11:57 AM #3
I suggest Mr. Schumer pledge his own life savings to bailing out special interests, not mine.
"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
- Alexis de Tocqueville, Democracy in America
Tell me not, Sweet, I am unkind,
That from the nunnery
Of thy chaste breast and quiet mind
To war and arms I fly. - Lovelace
The opinions expressed by this poster are wholly his own, and should never be construed to even remotely be in representation of his employer, its agencies or assigns. In fact, they probably fail to be in alignment with the opinions of any rational human being.
11-25-08, 01:14 PM #4
11-25-08, 03:01 PM #5
The Debt to the Penny and Who Holds It
( Debt Held by the Public vs. Intragovernmental Holdings )
Debt Held by the Public: $6,393,775,797,295.81
Intragovernmental Holdings: $4,261,692,851,682.26
Total Public Debt Outstanding: $10,655,468,648,978.07
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11-25-08, 03:03 PM #6
So that would take us over 5 trillion total?
As of Nov 18 CNBC had the financial crisis tab at $4.28 trillion dollars.
Of course the total depends who you ask. For example :
In doing the research for the "Bailout Nation" book, I needed a way to put the dollar amounts into proper historical perspective.
If we add in the Citi bailout, the total cost now exceeds $4.6165 trillion dollars.
People have a hard time conceptualizing very large numbers, so lets give this some context. The current Credit Crisis bailout is now the largest outlay In American history.
Crunching the inflation adjusted numbers, we find the bailout has cost more than all of these big budget government expenditures combined:
Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion
TOTAL: $3.92 trillion
Originally Posted by Herzen
11-25-08, 03:52 PM #7
11-25-08, 04:42 PM #8I'm your huckleberry...
Quemadmoeum gladis nemeinum occidit, occidentus telum est!
You can be the weapon, and the gun in your hand is a tool - or the gun is a weapon and you are the tool.
I was looking for a saint who was a devil of a lover,
but every girl I found was either one way or the other...
11-25-08, 09:01 PM #9
The Louisiana purchase was the best investment ever by the federal government. The only problem I got with it is that land that rightly belongs to the state of of Louisiana was divided up among approx. 15 other states. We was robbed. I think we outta file suit and get what is entitled to us back. Rally around the flag , Swamp Mafia.SI VIS PACEM PARA BELLUM-Ex-Sheriff Martin Howe to Will Kane in "High Noon"
"It's a great life. You risk your skin catching killers and the juries turn them loose so they can come back and shoot at you again. If your honest , your poor your whole life. And , In the end , you wind up dying all alone on some dirty street. For what? For nothing. For a tin star."
Far from being a handicap to command, compassion is the measure of it. For unless one values the lives of his soldiers and is tormented by their ordeals , he is unfit to command.
-General Omar Bradley, United States Army
11-25-08, 10:47 PM #10
The Treaty of Guadalupe Hidalgo
This is where we bought the Mexican Cession from Mexico in 1848 after the end of the Mexican-American war to the tune of $15 million. (Inflation Adjusted Cost $313 million, 2006)
The Mexican Cession is comprised of all of present day California, Nevada, Utah and parts of Arizona, New Mexico, Colorado and Wyoming.
Then we bought the Gadsden Purchase for an additional $10 million.
Choose The Right. When you're doing whats right, then you have nothing to worry about.
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In memory of Sgt. Howard K. Stevenson 1965 - 2005. Ceres Police Dept.
In memory of Robert N. Panos 1955 - 2008 Ceres Police Dept.
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