Tuesday, December 02, 2008

Where is the outrage? Bailout hits $8.5 trillion

What with the economy still in tailspin mode, this reminder from last week's San Francisco Chronicle:

The cost of the bail out is already $8.5 trillion, or 60% of the GDP.

Let me say that again: in an attempt to "save the economy from itself" (which is in essence the claim of all government intervention in the economy), the government has increased its spending to 60% of gross domestic product.

That means we are diverting 60% of current and future wealth (in some combination) into uneconomic business and business models. In short, we are funding failed enterprise at the cost of over one-half of our economy… and still this number is growing.

...And NOW it's a DEMOCRAT'S turn. Outrageous.

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