Americans For Limited Government : “February 26th, 2009 To the House of Representatives and Senate, On February 10th, Treasury Secretary Timothy Geithner unveiled the Administration’s latest $2.8 trillion bank bailout plan, the end result of which will be the nationalization of banks. Despite the enormous burden it will place upon taxpayers, Mr. Geithner intends to execute much of this plan without any Congressional authorization or appropriation. This blatantly flies in the face of the Separa
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A s the powers that be in business and government unearth facts, assess damage and point fingers about how our economy went in the ditch, one monumental factor is rarely mentioned. Behold a painful parcel of truth in three short but extremely telling lines, courtesy of American Economic Alert . Total U.S. goods and services trade deficit, 2001-2008: $4.738 trillion Total U.S. goods trade deficit, 2001-2008: $5.384 trillion Total U.S. goods trade deficit with China, 2001-2008: $1.429
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President Barack ObamaPresident Barack Obama charted a dramatic new course for the nation Thursday with a bold but contentious budget proposing higher taxes for the wealthy and the first steps toward guaranteed health care for all — accompanied by an astonishing $1.75 trillion federal deficit that would be nearly four times the highest in history. Denouncing what he called the “dishonest accounting” of recent federal budgets, Obama unveiled his own $3.6 trillion blueprint for next year, a bol
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FEBRUARY 26, 2009 1. When Obama Speaks, the Market Tanks Wall Street investors send White House a message 2. Really?? Last night President Obama said, “I asked this Congress to send me a recovery plan…Not because I believe in bigger government – I don’t.” Really? 3. Obama budget creates $634 billion health care fund According to the Post, Obama’s health care overhaul will cost as much as $1 trillion over the next decade. 4. Leahy Sets Hearing on ‘Truth Commission’ So Much for Bipartisans
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Wall Street Lays Another Egg NEIL FERGUSON This year we have lived through something more than a financial crisis. We have witnessed the death of a planet. Call it Planet Finance. Two years ago, in 2006, the measured economic output of the entire world was worth around $48.6 trillion. The total market capitalization of the world’s stock markets was $50.6 trillion, 4 percent larger. The total value of domestic and international bonds was $67.9 trillion, 40 percent larger. Planet Finance
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