Okay - so, we are already committed to borrow a trillion $ in order to do the Bank Bailouts ... now lets think about that. The banks will get $700-800 billion of that money, so where is the rest going??
BUT ... just to prove that he can out-spend anyone (including Lincoln, FDR, and which other president he wants to compare himself to COMBINED) ... once Obama puts his signature on the Stimulus Bill the Treasury will have to come up with yet another $$Trillion$$.
Now here's the real scary part - it has nothing to do with Bush, nothing to do with Obama (directly) -- we were expecting to get the money from either China, although there's been lots of opposition to it, or Japan - but according to FoxNews this morning they are actually in a DEPRESSION.
Now if anyone has studied the past Depressions then you would have realized that our depressions are usually started about a year after other major countries started having theirs. But this time the economies of the world are so tightly wound that the effects will probably happen sooner than a year.
Japan's economy has contracted 12% in the past year. Which the FoxNews financial expert is calling it a depression .... although its not 'official'.
They are predicting that the Dow will open --200 pts off the bat .... Yikes!!
start to economizing on the material & yarn.
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