20%, $289 billion is what they spent on military related expenses. $289 billion for everything. we spend $250 billion protesting that are as ass and fighting a r with people we re partners with. don t tell me we can t afford to cut back because we can. with afghanistan, why are we still there? why do we have these guys, the best, the best trained, you telling me these guys can t kick the ass of the people in the caves? come on! we are getting ripped off. these guys are the most honorable and best and we can t get out? it has nothing to do with these
20%, $289 billion is what they spent on military related expenses. $289 billion for everything. we spend $250 billion protesting that are as ass and fighting a r with people we re partners with. don t tell me we can t afford to cut back because we can. with afghanistan, why are we still there? why do we have these guys, the best, the best trained, you telling me these guys can t kick the ass of the people in the caves? come on! we are getting ripped off. these guys are the most honorable and best and we can t get out? it has nothing to do with these
i ll take the first part first, which i think the deficit is going to be considerably smaller in fiscal 2010 than most people realize. if you go back to fiscal nine, we had federal tax receipts fall about 30%. that s not going to happen this year. as was reported in the march numbers, there was a $129 billion reduction in the deficit thanks to rising tax receipts and falling spending because the bailout s being paid off. right now, the price tag is only $89 billion. the fed may earn that back this year and give it to the treasury. there could be a net plus by the time this bailout is over. we re talking about the short-term deficit and not the long-term looming costs. everything else that s going on. unfunded liability, but an the jury is out as to whether or not the new health care bill
relative to what was feared not that big of a deal. the sentiment summed up with newsweek s knew cover which patriotically proclaims that america is back and everyone including myself likes a bright forecast. how about we dig deeper and see how we re getting to some of these conclusions the we concl. we ll debate them a bit. light tend of the tunnel saying the cost of the bailout less than originally feared. according to the wall street journal via the treasury department, we ll only be down $89 billion for rescuing the entire multitrillion dollar economy from the bank greed that crashed it. that s good news. unfortunately treasury as well as the wall street journal completely ignoring the massive and ongoing support from the federal reserve. there s a whole other place where we just invent money. it s not just treasury. it s like saying it will be a warm day but neglecting to mention the heat is caused by a giant uncontrolled fire at the
federal reserve. not to mention the t.a.r.p. itself represents 2% of the overall direct government support of the banks. and that s just the direct support. meaning in no way reflects things like the trillions that the banks have been giving the opportunity to make off the cheap money from the fed that they then give to the treasury for politicians to spend. as for fannie and freddie, the provider of all that housing debt that was gambled upon and sliced and diced, we by way of the fed and treasury still writing a blank check to the tune of 5 trilli$5 trillion to and freddie. the cost of the rescue where we get housing finance will be way more i can assure you than 89 billion. wall street journal not the only one with a rosie out look. newsweek celebrating the comeback country by citing