White House planning another "stimulus"

The White House is prepared to unleash another so-called “stimulus” upon the U.S. economy, according to Yahoo! News. Only, they do not want to admit it’s a “stimulus”. According to White House spokeswoman, Jennifer Psaki, "The fact is that this is a word game.” It could add up to over $100 billion in tax funds when all is said and done. Which may help explain why the White House dare not use the “s” word. First off, this would be the third such so-called “stimulus.” The first occurred in 2008 under President George Bush totaling some $152 billion. The second occurred earlier this year, costing the taxpayers $787 billion. And that’s without even calculating interest that will be owed by future generations for what amounts to record-level deficit-spending, borrowing and printing cash designed to prevent the economy from sliding—but actually further pushing it—into the Abyss. Put together with $300 billion for foreclosure “prevention” in 2008, the $700 billion Troubled Asset Relief Program, $200 billion to nationalize Fannie Mae and Freddie Mac, over $300 billion in FDIC liquidity guarantees, the Federal Reserve’s $300 billion committed to purchase treasuries, and other initiatives, the federal government has kicked out more than $4 trillion to “rescue” the economy. And it has pledged as much as $12.8 trillion as “necessary.” That’s over 3.58 times what the federal government collected in individual income taxes in 2007, some $1.115 trillion. Put another way, the government could grant a three-year moratorium on income taxes, and it would still not equal the amount of money that the government has put on the table in its failed attempt since 2007 to “stimulate” the economy...read more