Where is all this money coming from?

United States
February 16, 2009 7:34pm CST
Obama is about to sign a $790 billion dollar stimulus (waste) bill. On Wednesday he'll unveil how his administration will spend at least $50 billion of Wall Street rescue money to begin halting mortgage foreclosures. And sometime this week the Treasury Department is expected to details plans on a $100 billion -plus plan for the federal government and private investors to team up to rid bank balance sheets of toxic assets. So in this week alone we are talking about all together 940 Billion dollars. And we have not even gotten to all the money he wants to spend on all his social programs and medical care. Where is this money coming from. Our national debt is currently at $10,773,621,653,794. Why are we adding to it instead of paying it off? Irresponsible spending is what got us into this trouble in the first place. We can not spend our way out of it. If Obama keeps up this pace he will out spend Bush's whole presidency within the first year.Just where is this money going to come from? And why are we spending it? Throwing money at a problem does not solve the problem. Especially if you do not solve what was the problem in the first place. Without fixing that problem than you are just throwing money down a hole. Tell me what you think.
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1 response
@irishidid (8687)
• United States
17 Feb 09
The worst part, at least to me is the mortgage rescues. Hello, stupid, if you couldn't afford the big fancy house you shouldn't have bought it. So now I can't buy a house but I'm suppose to help the schmuck keep his? And what lesson is schmuck learning from this? Probably how to whine for what he wants.
• United States
17 Feb 09
I agree. Not only are we bailing out the home owners but also the companies that made the loans without first making sure hte people could actually pay for it. We are rewarding bad behavior at our expense.... not theirs.