Saturday, April 25, 2009

Spend it Like You Got it O!

"...Obama has shown he isn't afraid to spend billions of dollars on corporate bailouts or to run up trillions of dollars in U.S. debt to battle an economic crisis.

But in doing so, he has initiated the largest expansion of federal government since World War II and set up a massive challenge for his administration -- one that officials are already warning will be fraught with peril.

...Timothy Geithner told a congressionally appointed oversight panel this week that America's banks are still broken, despite all their bailout billions. And an inspector general assigned to the bailout program concluded this week that a private-public partnership designed to buy up bad assets is tilted in favor of private investors and creates "potential unfairness to the taxpayer." [link]

So everything is still broke, money has been created out of thin air, the size of the federal government has doubled in size in less than 100 days, and all this is supposed to be good and bring about "change" and "hope".