Broke is Broke


We have a National deficit of  $ 12,700,889,806,580.75 as of March 29th, 2010, approximate population in US is 308,094,097 which means as of today every citizen’s share of debt is $ 41,224.06.  Now that figure isn’t a household figure, it means every individual’s share is over $ 41,000.  This isn’t the entire story, there’s much more to come.

CBO made a minor error of 1.5 trillion dollars when they figured Obama’s budget and they refer to this error as a slight mistake.  It’s only a matter of time when we will see more huge errors made by CBO on the healthcare reform; they could not give accurate figures on the reform, because there wasn’t any real basis to work on – the reform was full of entitlements, what ifs and maybes.   Be prepared for another minor error or several trillion dollars!

Some of the larger corporations and small business say the reform will cost them millions of dollars and this translates into another extremely large bubble that will create havoc in our economy.   Keep a close eye on all businesses, big and small – this will translate into more jobs lost, deepening debt in the time of a severe recession and even higher unemployment rates. 

Next, consider the TARP that Obama is misusing and now suggesting that 30 billion go to small businesses – small businesses that are fiscally sound don’t want to borrow anymore from anyone at this time.   So businesses that are not solid or sound will reap the benefits and this will be a repeat of the housing problem, when lenders were encouraged to lend money to those who didn’t qualify for a loan.

In January, 2010 taxpayers wanted TARP monies back and Obama said, “My commitment is to recover every single dime the American people are owed.”  Mr. Obama is just full and running over with “Cheap talk.”

Remember HAMP, the 75 billion dollar loan modification bill that was supposed to help1.5 million people – as of this date permanent modifications have only assisted about 175,000 homeowners.  Another lie and another mismanaged Obama program. 

On March 24th 2010, according to an article by CNN Money – The Special Inspector General for the Troubled Asset Relief Program said, “the Treasury Department set targets that weren’t “meaningful,” mismanaged the implementation of the programs and now risks a substantial number of “re-defaults,” with many participants ultimately losing their homes anyway. “By Tami Luhby, senior writerMarch 24, 2010: 5:47 AM ET

Timothy Geither played cat and mouse when asked how much of our TARP money is left – he guessed that we had 130 to 135 billion left, but at last accounting there was around 60 billion still left in our TARP bank.  So either Timothy is bad in mathematics or he thinks taxpayers are stupid. 

This is just the tip of the iceberg, America there’s much more to come when the healthcare reform kicks in, so for those who are just loving Obama change – give me one good reason why you’re so enthusiastic about this reform! 

Obama has misused our money, jobs were not created like he promised and he implemented many costly programs that didn’t work, such as TARP, HARP, HAMP, Cash for Clunkers, the Daddy of all stimulus bills and now the healthcare reform. 

Until all Americans realize that we’re broke, government is getting larger (much larger with 16,000 new IRS agents and 15 new Administrative positions approved by Obama after the Senate had gone home to rest for a couple of weeks.)  Transparency is a big joke – none of us know what our White House is up to at any given hour, day or month. 

There are over 4 million more homes being foreclosed in 2010, businesses will start cutting jobs due to the unexpected costs of the healthcare reform.  2010 is starting to look worse than 2009 and don’t say it’s the Bush Administration. 

This is the Obama Administration that has accomplished all of the above programs that we’ve discussed; in 14 short months Obama, Pelosi and Reid have succeeded in bringing our Nation to its knees and yes, that was accomplished by “Spreading the Wealth.”  

Little T-Boca says

May God Bless Our Nation

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