Saturday, February 14, 2009

Senate passes spending bill - total federal obligations now exceed world GDP

With our Sen. Sherrod Brown as the final yes vote, the Senate passed the conference report for the American Recovery and Reinvestment Bill, 60-38. Sen. George Voinovich voted no.

Three Republicans voted in favor of the spending, both the original bill and the conference report: Olympia Snowe, Susan Collins (both from Maine) and Arlen Specter (from Pennsylvania).

Had they not voted for the largest spending bill ever, it would not have passed. Remember their names when you, your children and your grandchildren have to foot the bill for this boondoggle.

If the cost of this bill doesn't concern you, maybe this article by Jerome R. Corsi will:

As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.

The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account
.

Strange - I always thought the Goal was Freedom.

5 comments:

Roman said...

I remember the presidents if the Big Three auto makers being excoriated by the Senate for flying to DC in private aircraft to testify for bailout money. It is reported that Senator Sherrod Brown flew in a government aircraft to vote for the "stimulus" bill. He was at his mother's wake, and has my condolences, but wasting taxpayers money seems to know no bounds.

2Bn11FA said...

it is interesting that I just read that GM is now considering Chapter 11 bankruptcy. why now and not December? And another small "porky" thing in the new bill is the Smoot-Hawley replay. does no one read or understand history anymore? Man, this stimuless bill is just a replay of the Hoover/Roosevelt administrations all done at the same time. Ideology is fine, stupidity is not!

2Bn11FA said...

It is interesting how the senate held the vote open for Sen. Brown to fly back from ohio on a PRIVATE government plane so he could cast the deciding vote. Must have been some people not voting this time.

Maggie Thurber said...

Sen. Kennedy was not able to travel and Minnesota hasn't certified who won the election. Those were the only two not voting.

But the expense is unbelievable - and unnecessarily paid for by the public.

Tim Higgins said...

Maggie,

Owing to the fact that it's a weekend, and that I am lazy under the best of circumstances, I will let the Founding Fathers do my talking for me:

A national debt, if it is not excessive, will be to us a national blessing.
- Alexander Hamilton

I cannot undertake to lay my finger on that article of the Constitution which granted a right of expending, on the objects of benevolence, the money of their constituents.
- James Madison

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