40 percent of stock values are gone so far with more to come. That's $9 trillion so far. U.S. real estate has gone down by $5 trillion. It's only the beginning if they don't help the homeowners facing Alt-A interest-rate increases. It is estimated that the federal budget for the coming year will include a $1 trillion deficit. The deficit for 2008 is a record $438 billion. The bailout of Fannie and Freddie is upwards of $300 billion so far. The Wall Street bailout has been $700 billion so far. $150 billion was spent on needless pork or earmarks just to get selfish members of Congress to go along with the ridiculous Wall Street bailout. They've spent $85 billion to bailout AIG with $37 billion more apparently being asked for. GM, Ford, and Chrysler are going to need bailouts that will run in the tens of billions. (Primary Source: October 14, 2008. PJB:. By Patrick j. Buchanan [not a blanket endorsement])
Let's not forget the $850 billion being shelled out by the Federal Reserve with no oversight. The national debt (interest-bearing debt to private interests) is now over $10 trillion.
The Democrats in Congress are talking about a $150 billion stimulus package aimed at middle class voters to include tax cuts. Who will make up the difference? McCain is calling for reducing capital-gains rates for the rich, as if more tax cuts for the rich will do anything that earlier tax cuts didn't. Tax cuts did not help the economy at all. They hurt the economy. They hurt the middle and lower classes. How many hundreds of billions have we spent on Iraq and Afghanistan and Somalia and elsewhere for overt and covert military and intelligence operations? Iraq alone has been nearly $500 billion and that's only what they'll admit to. How large is the black budget that doesn't get published? We still haven't had anyone look for the 2.3 to 3.3 trillion that went unaccounted for on 9/11/2001.
Do you think the Taliban can't smell the blood in the water? Do you think they don't know the pressures the U.S. has brought upon itself due to America's collective greed and conceit? Right when the Taliban are revving up, the U.S. is talking negotiated settlements. That's a real sign of just how bad things are looking. Do you thing the Israelis are going to attack Iran now? They'd make of themselves even bigger idiots then they've already shown themselves to be.
The time is perfect for America to really engage in a Good Neighbor Policy and not the phony one that it's had since its inception.