<p>That’s the cost (so far) of the Bailout/Stimulus expenditures we are going to be spending in the next year. Every dime of which we are putting off on future generations because we’re borrowing or printing all that money. </p>
<p>Do the math. That works out to $27,000 for every man woman and child in the United States. We are spending $27G’s for each of us to stave off the damage done by our country’s financiers in their selfish attempt to make themselves even richer. (Or us poorer, which would serve the same end.) </p>
<p>BTW, our country’s entire GDP last year was 14 trillion. </p>
<p>WOW!</p>
<p>WE ARE IN A GREAT CRISIS, CREATED BY THE FEW IN ORDER TO SERVE THEIR GREED</p>
<p>There is a tipping point with the deficit. If we reach that tipping point, the dollar will crash and the world economy will go into a deep depression. I don’t know how close we are to that tipping point, but out elected leaders are getting close. They may very well destroy the economy by trying to save it. This is what happens when Democrats try to force banks to lend money tho those who do not have the ability to repay it.</p>
<p>I don’t know about the tipping point. If all or most countries do the same thing (borrow and spend like crazy), then currencies may well stay stable relative to one another. The borrow and spend approach results in a huge reallocation of wealth and, of course, those with the ability to influence where the money goes are trying to position themselves as a gatekeeper or toll collector of that wealth.</p>
<p>I heard a first-hand account (tape recording or something) of a professional describing what happened to businesses in his town during the depression - business just dried up to the point where it couldn’t function in his town. People were more concerned about surviving than in using professional services like lawyers. People didn’t pay for services - they didn’t have it to pay.</p>
<p>In the proposed reallocation of wealth and income to the vast majority, higher paying jobs may be an afterthought.</p>