Count It: $7.7 TRILLION
U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit
The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.
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Source: Bloomberg.com
Note: Whoa, whoa, whoa...wait just a minute here. HALF THE VALUE OF EVERYTHING PRODUCED IN THE NATION LAST YEAR. Give me a minute. Let me drink that in. This they are guaranteeing "on behalf of the American taxpayers"?...Who is this "they" that is doing this?
Wake up America.
The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.
Read More...
Source: Bloomberg.com
Note: Whoa, whoa, whoa...wait just a minute here. HALF THE VALUE OF EVERYTHING PRODUCED IN THE NATION LAST YEAR. Give me a minute. Let me drink that in. This they are guaranteeing "on behalf of the American taxpayers"?...Who is this "they" that is doing this?
Wake up America.
posted by Kathy at 11/24/2008 08:09:00 PM
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