Nemo me impune lacessit

No one provokes me with impunity


No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.

Article 1, Section 9, Constitution of the United States

If this is the law of the land...why in a republic (little r) and as republicans, do we allow mere POLITICIANS to the right to use a "title of office" for the rest of their lives as if it were de facto a patent of nobility. Because, as republicans, this should NOT be the case...just saying...

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Wednesday, July 21, 2010

Bailouts Reach $3.7 Trillion Dollars

The federal government has spent $3,700,000,000,000.00 on bail outs so far in this presidency...from Reuters,
"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. 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.

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