Stimulus Paid Back?
Editorial By Dominick Villapiano
November 19th, 2010
I am a little confused on few things, by a report made about ourNational Debt. The Federal Budget Spending and The National Debt updated a report on 22 of August 2010 stated the deficit today at $13.3 trillion by. Something I should point out is the difference between the US National debt and the deficit. The difference primarily as I understand it is our National Debt is, what we owe as a country to the also called the owned by the Central Bank (this is not a federal government agency despite of its name), borrows money from the Bank Of England (The World Bank).
Now theis how much we are spending as a country over our budget that our (the American tax payers ability) can repay on our national debt. Confused? Just wait it gets better.
In light of the brief terminology class, I want point out a few things that I found, that if the information I am about to point out is fact, we have a problem. When President Clinton left office, we had a $75. million dollar surplus in our National deficit, a balanced budget and a 5.6 trillion national debt. Now let us look at a few things, our national dept rounded off is $13.3 trillion, which $2.5 trillioncreated over eight years and the best report year to-day on has so far added over $1.3 trillion in a little over a year and a half. Now this total cost of the war year to-day of $1.1 trillion growing by the second. Now from my very limited math skills apparently, this leaves us at an estimated 12.2 million national debt…Right? Please let me also mention that Chrysler has not paid back their bailout money back, the exact amount is unclear and unclear when they will pay it back.
We will also talk about the first economic stimulus checks that were sent to the American people in 2008, total cost to give us our money back was $152 billion, the bailout that Gm claims to have paid back according to Gm, so we will not count that money. Several banks reportedly have paid back their bailout loans and education received 600 million (unclear really). On top of all of this is federal funding for road work estimated at $700 billion. Insurance companies received a few bucks, but a long way from accounting for 12.2 trillion plus the war. We can include the unknown Heath Care Reform Bill that I personally am still amazed at how exactly that happened, a huge cut in benefits with huge cost and made mandatory to purchase to boot in this free country. I am a little more confused.
We also received some stimulus to refinance home loans refinance which really all went to the banks, they got rich on the back end cost and fees, that is exactly how they paid their Bail Out money back. So in my opinion we can’t account for about at very least 3 trillion dollars since the end of year of 2000 when our deficit was balanced. Now think about this, a whopping total of that money that went to the American people was at the most with the stimulus checks and themoney was 300 billion. This $300 billion is what we got out of $13.3 trillion. Keep this in mind that “we the American people” are supposed to pay it all back, debt we did not create. Let me also remind you that any economist will tell you that, this is not possible. Now I am even more confused. How is America (the ) borrowing money anyway, our credit must be terrible.
So this is what I see, a $13.3 trillion dollar debt that is will to increase to $19 trillion by 2015 which we the American people only have the ability to as pay back as tax payers a little over 9 trillion. Now it does take a whole lot of education to spell bankrupt.
This should be simple, just like balancing a check book, deposits verses checks written or let us get fancy assets verses liabilities. I would like to know why the federal government is not held to the same exact standard as the American people? Is it not all our money to begin with? This was all done in the name of 911, and the bad little banks that really caused the whole economic disaster if there was one. Shouldn’t we get a monthly statement? I better go check my mail box. Oh I forgot, the Federal Postal Service is broke too. Now I am really confused!
You have to move money around to steal it! Maybe I am not so confused!
You see we here in America blame Bush for this and Obama that, this country is reduced to a two party system, but here is real the problem I see. It is like having a only two horses in a race, and after the race was over you find out that, it did not matter which horse you bet on, both horses were own by the same man and he got the purse either way. This problem will never be fixed by a Republican, Democrat or Independent, conservative or liberal, this problem is much bigger than any idiot we vote into office. They are just tiny little fish in a very big pond.
Sources I used for this editorial
I am basing this editorial on the facts from the sources I provided as I understand them and solely on my personal opinion and view.