"Indeed, the current outstanding balance of overall Federal support for the nation's financial system...has actually increased more than 23% over the past year, from approximately $3.0 trillion to $3.7 trillion -- the equivalent of a fully deployed TARP program -- largely without congressional action, even as the banking crisis has, by most measures, abated from its most acute phases," the TARP inspector general, Neil Barofsky, wrote in the report. The total includes Federal Reserve programs and a myriad of asset guarantees, including Federal Deposit Insurance Corp. protection for bank deposits....so much for the recovery summer. Eventually, the government will run out of our great-great grandchildrens money and stop throwing good money after bad. Keynesian economics doesn't work. It didn't work during the depression, and it hasn't worked now. By all measures, except those used by this administration, the stimulus spending has utterly failed to do what it was designed to do...and is only making matters worse.
It's time for the government, and the US Congress to stop spending money like drunken sailors. We can't afford it, and our decendants whom will ultimately end up footing the bill can't afford it either. Ours will be the first generation who leaves the country in significantly worse shape than we received from ourt parents generation. That should be enough of a reason to stop such profligracy, but I doubt it will.