From the Congressional Budget Office
The Media is flat assed hiding this information from the general public. The more people learn about this piece of garbage called a Stimulus, the more they don’t like it. The problem is, there is very little to be found about it in the NYT, Wapo or on ABC, NBC, CBS or MSNBC. Anything they do report in nitpicked from the text. They completely ignore the negative side of the report.
This evening, CBO released its Monthly Budget Review, reflecting an analysis of budget data through the end of January. CBO estimates that the Treasury Department will report a deficit of $563 billion for the first four months of fiscal year 2009, $474 billion higher than the deficit incurred through January 2008. This year’s deficit to date includes estimated outlays of $284 billion for the Troubled Asset Relief Program (TARP). Although the Treasury is recording most spending for the TARP on a cash basis, CBO believes that the budget should record all of the program’s activities, including equity investments, on a net present-value basis adjusted for market risk, as specified in the Emergency Economic Stabilization Act of 2008. Using that approach, CBO estimates that outlays of $76 billion should be recorded for the TARP through January, which would yield an estimated deficit of $355 billion through January.
Folks, that is money that will come out of our pockets and the pockets of our children and grandchildren.
Receipts for the first four months of fiscal year 2009 were about $88 billion (or 10 percent) lower than receipts during the comparable period last year. Almost half of the decline, or $43 billion, resulted from lower net corporate receipts, which fell by 43 percent. Declines in those receipts reflect the continued weakness in corporate profits stemming from the recession.
if i remember correctly, that would be when Reid and Pelosi got their hands around our throats.
Sadly, Bush got suckers into signing that piece of crap TARP. That started the slide. what was possibly a moderate recession, which the market could have recovered from, was turned into a much worse situation by the harping and chicken little antics of the Media and the Demoncrats. They scared the American public, mostly the extreme left, Socialist Communist leaning among us into sliding Obama (The Chosen One) into the Whitehouse.
Outlays through January totaled $1,337 billion, CBO estimates—$387 billion more than in the same period last year. That amount includes expenditures of $284 billion for activities by the TARP (under the cash treatment used by the Treasury) and $14 billion of equity injections for Freddie Mac. Spending for other federal programs was $123 billion higher than in the first four months of 2008; adjusted for calendar-related shifts in the timing of certain payments, program outlays rose by 12 percent (about $101 billion). In contrast, outlays for net interest on the public debt fell by 39 percent, or $35 billion, over that period because of lower costs for inflation-indexed securities and a decline in short-term interest rates.
They just keep spending more and more. For eight years the Demoncrats were always critical of Bush for the cost of everything and the deficit. Even though he had to deal with 9/11 and two wars.
The longer Obama is in office, the more his Marxist, Socialist views come out. We are being forced to follow a path where I can see our Constitution being tossed in the trash or being modified and weakened to the point of being useless.
I tell you the truth when I say I am very afraid for this country. Americans have to stand up to these Marxists that have moved into 1600 Pennsylvania Avenue. They must be stopped.
