700 Billion

We’re told that this bailout will cost us $700 billion (and maybe as much as $1 trillion). Even setting aside the very significant moral hazard created by such a bailout, we simply can’t afford it.

Here’s a little breakdown you won’t hear from our politicians:

700 billion dollars is over $2,300 per person! (700 billion/population of 300 million) And that’s not per taxpayer, that is for every person in the country from from my eight year old sister to your retired grandmother, and everyone in between.

Would the politicians dare support the bailout if every family of four in the country had to come up with a check for over nine thousand dollars? Not a chance.

But somehow when they put it on our collective credit card it makes sense?  Give me a break!

12 Responses to “700 Billion”

  1. nyczhugo Says:

    I agree! Ron, I always liked the democrat party because the only president I can remember was Clinton and when he was in power, things were going O.K…Or so I thought. Disappointed with our government, I have been keeping up with national elections since 2000. In 2008, I watched the Democrats debate, and they honestly didn’t really “click”. I decided to watch what the Republicans had to offer just for the heck of it. When I heard you speak, it literally gave me Goosebumps. All the answers that I have been seeking in my mind on how to make this country a better place were answered in the Republican debate by you. I thank you for staying strong in the podium with those neo-cons telling the TRUTH like it is. I read your book and read about Austrian Economics. I have passed on my knowledge to as many people as I can within my scope.

    But the question remains for this issue at hand: Can we offer an alternative? In another words, if you were the president right now, what would you do? I know you would say no to the bail out. But would you take any other form of action? I know this is not a dictatorship even though it seems like it in the past 8 years but, what kind of action can a president do with his executive powers to resolve this issue or at least persuade Congress to resolve this issue? Remember: It’s easy to find fault, but it’s harder to find solutions.

    Thanks Doc! You cured my apathy! Keep fighting! We are here on the sidelines watching this unravel. Trust me; it’s a lot of us. What you have made and continue to is contagious, and even though you might not see it online or on the news, we are here and we are strong. Knowledge is power, and your message will spread, hopefully fast enough… By the way… WE WANT YOU AS A PRESIDENT! DO WHAT YOU CAN DOC PLEASE?

  2. Pat Jack Says:

    The Oil Futures market decline data is comparable with the rise in membership of http://www.pickensplan.com.

    I am an Ambassador for the Pickens Plan.

    Searching google.com weeks ago, Pickens Plan owned top google SERP for the phrase:

    700 Billion

    The banking failures have stolen Boone Picken’s strongest keyword phrase, 700 Billion. IMHO, they have stolen all of U.S. blind.

    All of the blogs and media that currently return top google SERP for the phrase, “700 Billion” were pushed to the internet in advance of bush’s speech which was written and refined in advance of the full disclosure by the White House of the banking failures in the United States of America.

    A google search no longer returns top SERP that point to Pickens Plan documents, the phrase 700 Billion.

    700 Billion to build the Saudi Arabia of Wind Power is being taken by the banks and the FED. The U.S. government has orchestrated an online campaign to Co-opt Boone Picken’s most powerful slogan, (google phrase).

    America is faced with another 700 Billion dollars that will leave this nation to pay for foreign oil imports.

    That’s 1.4 trillion dollars leaving our economy this year, and then there’s the budget, and then there’s the war. You think China has a favorable credit rating for some more U.S. loans? I know they do not.

    We must develop a domestic energy dollar based on domestic resources and reduce the crippling dependence on foreign oil; the cycle of war and terror for resources.

    Next the U.S. Automakers will want a $700 Billion bailout.

    That’s 1.4 Billion in bailouts. Then there is the war, do you know how much it costs per year? Add that to the tab, and just charge it.

    I don’t see any good electric cars, I don’t see any good natural gas cars produced in the United States, I don’t see anything from the U.S. auto industry except sloth.

    We need a Plan. T. Boone Pickens has a plan.

  3. Pat Jack Says:

    I am Pat Jack.
    I am an, Ambassador, (http://push.pickensplan.com/group/delegates), for the Pickens Plan, (http://www.pickensplan.com) online.

    Searching google.com just a few days ago, Pickens Plan owned top google SERP for the phrase:

    700 Billion

    Media organs of the banking failures have hijacked Boone Picken’s 700 Billion keyword phrase. It’s arbitrarily important.

    Blogs and media currently returned in top google SERP for “700 Billion” were pushed to the internet in advance of bush’s speech, written and refined in advance of whitehouse full disclosure the banking failures crisis in the United States of America. The dance was timed perfectly, I salute the shadow; Watch.

    A google search for “700 Billion” no longer returns top SERP pointing to Pickens Plan documents.

    The U.S. government has orchestrated an online campaign to Co-opt Pickens Plan SEO.

    700 Billion dollars leaves this nation to pay for foreign oil imports this year and for the next 10 years. A TRILLION dollars leaves America over the course of 10 years while Iran retools transportation to run on natural gas.

    1.4 trillion dollars leaving our economy this year, the budget, the war.

    Developing a domestic energy economy based on domestic resources to reduce the crippling dependence on foreign oil, (the cycle of war and terror for resources), is a heroic.

    The U.S. Automakers will want their $700 Billion bailout.

    1.4 Billion in bailouts, plus the 700 Billion for oil imports this year.

    I will throw soup and bread at them with you.

    Join me at http://www.pickensplan.com

    Pat Jack
    Pickens Plan Ambassador

  4. Reality Says:

    We need “feasible today”, not “somewhat plausible in decades”. Near 200 million liquid fuel vehicles are in use daily. In difficult economic times, citizens will not be buying new vehicles, nor paying multiple thousands of dollars for pie in the sky CNG conversions. A disillusioned old fool wants to replace a limited fossil fuel resource with another one. And, of course, a large corporate conglomerate, including his, will be the only monopolized source available. Anyone who understands the natural gas debacle from the mid 90s to the early 00s also understands that the volume of CNG usage being suggested cannot be maintained. Not 10 years ago, not today, not tomorrow.

    This shameful spectacle being carried out by Pickens is horribly misleading to a public that is desperate for solutions. The average citizen cannot afford to replace their vehicles or do these conversions, and recent history clearly indicates that the consumer will, once again, be left high dry. Once the demand is created, Pickens and his henchmen will be unable to provide the demand in an economical fashion, and will have no desire to do so. It is shameful that this man is holding out this false hope as he uses his wealth to manipulate the media to his advantage. This blatant attempt to victimize the public in such a great hour of need is as traitorous as it comes.

  5. Lonnie M. Hobbs Says:

    IF Ron Paul would back and help the Republican Representatives with the plan they have [insureance, CEO limits, morgage rewirtes, etc.] and you guys push it on the internet, Ron could get to be president by write in.

    I for one am dis-heartened by McCain’s backing of the Democraps “Bailout” bill wich is noting but a BIG give-away for their buddies.

    I for one would write in for Ron Paul and might anyway because McCain has not helped the Republican cause in the House but tried to soft soak them into taking the Democraps ideas.

    If the internet is such a strong influence, Prn Paul for write in could blow the others away and at least scare them into understanding the people don’t like this rip-off

    Lonnie M. Hobbs
    lmhobbs@txol.net
    1217 CR-130
    Cisco, TX 76437

  6. Frank Says:

    Believe me, if Wall St cant sell this crap, we should not touch the stuff.

    That bill better not pass!!!

    Frank

  7. Pat Jack Says:

    Become informed at the Pickens Plan online. We encourage you to share your knowledge and your advocacy or your refutation online in the Pickens Plan.

    You are welcomed.

    Pat Jack
    Pickens Plan Ambassador

  8. Anon E. Moose Says:

    Recently I was hit by several NSF fees as a result of using my debit card. When I contacted WAMU, and said yes, this is my fault - but do you have to make it so painful?

    Their response, ironically, was to learn to handle my money better.

    They are absolutely correct. And it works both ways. You want 700 bln from the same people that you have been financially raping for years? I say no. Banks, you handled your money poorly. I suggest you go to your C-Level managers and ask them to contribute their salaries, and bonuses, and nice homes, and nice cars, and …

  9. Pickens Plan Ambassador Says:

    Pat Jack has never had an NSF fee as a result of using Pat Jack’s debit card because I watch the banks carefully and know when they are about to commit thievery. Then I listen to all the suckers whine and cry and wait for their drawers to dry, so they can fill them again.

    Pat Jack
    Pickens Plan Ambassador

  10. Pat Jack Says:

    I am no longer a member of the Pickens Plan, I was banned from the Pickens Plan.

    Mission … Accomplished.

    ;-)

  11. Pat Jack Says:

    I repeat, Pat Jack is no longer a member or a supporter of the Pickens Plan.

    Mission … Accomplished.

    ;-)

  12. exehoub Says:

    Я вот полностью согласен с автором!

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