Originated From The Washington Times
Trm,
what stimulus money has ever been paid back? The banks do not lend the money. Instead they blow it on their luxery vacations and bonuses/pay raises for themselves. Furthermore, it was reported that over 700 jurisdictions received stimulus money. The only problem is that these specific jurisdictions do not exist. The stimulus money given to these "phantom jurisdictions" is gone and no one is able to explain where the money is. I can tell you. It is squandered and will never be retrieved. As a matter of fact, the U.S. Government gave up on trying to recover the money.
What planet have you been living on for the past 20-30 years. If it were their money they might care but it's not their money, it's your money. Get it !!!
Why would anybody want our government to keep OUR hard earned money to keep the social programs going?.. If the money is returned, then people who are working , pay less in taxes. Don't you know, the only way the government get money is thru the working people. I would prefer to keep my hard earned money rather than give it to the low-life who have been on welfare for years and enjoy not contributing to America.
The "money" does not actually exist. Since we went off the gold, then the silver standard, the number of dollars in existence can be infinite, since they are not tied to anything whose total quantity can be known or estimated. (For example the amount of gold stored at Fort Knox would at least give a good guess at the total amount of gold that has been removed from the earth's crust and refined.
Now, the government can keep making more dollars as long as they have the equipment to print currency and the electricity to run it.
The so-called stimulus money was borrowed largely from China, and that government's increasingly stern demands from our government and our industries operating there reflects the fact that the Chinese are happy to hold this debt as political leverage.
The so-called mortgage crisis should have been solved by forcing those responsible for having created it to suffer the loss. Rather than foreclose on bad mortgage loans and depend on the government to supply the funds they eventually misused to pay executive bonuses, the banks should have been required to settle the loans by reducing the debt tied to houses sold at inflated prices. Of course the government started the whole mess some years ago by forcing lenders to make loans to people whom they knew stood a very slim chance of being capable of paying them back. So the "stimulus" money given to the banks was the Bush and Obama administrations' way of taking care of their banker buddies. You and I had nothing to gain from this, from the jump.
State governments are in trouble because politicians promised more (in the hope of buying votes) than they could possibly pay for.
It will take some catastrophic action to remedy our financial situation. In my opinion, that would involve the removal from office of every politician who aided and abetted the wide spread practice of taking on responsibilities not given to government by the US and state constitutions. And, unfortunately, the dollar would need to be drastically devalued to bring everything back into line.
Chances of that happening are close to zero.
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