Midknight Review believes that Obama and company has spent at least 23 trillion dollars, most of it unaccounted for by anyone, since he has been in power. That is better than 2 trillion a month !!! Here is our argument:Obama goes after the banking industry for excessive profits and lavish bonuses while hiding the fact that Fannie and Freddie have lost $400 million over the course of the past year -- far more than any other financial collective -- while giving their CEO's bonuses of $6 million each and lavish "secondary" bonuses to hundreds of lower level executives. Obama says NOTHING about this. His silence is for "good" reason. On December 24th, Congress gave the Administration free access to the funds of Fannie and Freddie - access without the need for Congressional approval or accounting. In so doing, Obama secured full funding for ACORN Housing and all of ACORN'S legal and illegal activities. Do not expect to hear much about the "lost funding to ACORN' that took place last summer in the House. That has been effectively dealt with as Obama has found yet another way to skirt Congressional authority.
Neither is there mention of one of the most preposterous financial totals in world history - "world" history as opposed to U.S. history - 23 + trillion with a "T" run through the TARP program. This sum takes shape as an "unfunded" liability and is given no accounting when TARP funds are reported. We continue to talk of the $700 billion in TARP funding, often hearing the lie that $230 billion of the TARP fund is unspent . . . . a rather asinine (emphasis on the phonetical "ass") claim by the Obama Administration in view of the fact of the 23 trillion rape of the American tax payer.
Never heard of the 23 trillion claim? Is Midknight Review the first to report this? Did you know that we have been reporting the radical misuse of TARP since last March while no one else has done so. Think we are making it up? Understand that NOTHING written in Midknight Review is fictionalized or worse, a lie. Nothing.
But, if you must, here are some references in support of our factual claim:
Click on FT.com and read the article, or
Click on Blogging Stock.com for more information.
Or, take a look at this chart - the product of the Special Inspector General over TARP telling us there was something wrong with the use of TARP - and telling us last March 31. In case you don't get it, in the far right column is the intended allocation(s) of TARP as presented to the American People. This was an outright lie and Henry Paulson, the man put in charge of TARP by Bush AND the Democrat Congeress, is at the center of this scandal. You have the far right column as noted. In the column immediately to its left, you have the truth, as of the end of March, as of 23-trillion-minus-3-trillion-dollars-ago.
This information comes from the Special Inspector General in charge of oversight of TARP expenditures. Passed under Bush, this fund was managed by the Obama administration after Bush turned it over to that Administration. Where is the outrage?
If we take the 23.7 trillion slushed through TARP and add the 9 trillion admittedly spent during Obama's first 12 months in office, the total is just under 33 trillion dollars --- before we factor in interest AND before the additional spending that is the health care fiasco and Cap and Trade. This bunch that is in charge of this government is criminally insane. 2010 needs to be twice as big as 1994 and the GOP had best learned its lessons. It is one party rule at present. After November 4th, it will be a two party government once again. If the GOP is not the party of reduced governance and lower taxes and the reversal of Marxist policies institutionalized by Obama and Company, a third party stands on the horizon ready to spring into action. After 2012, decisions will be made about a third party. Before 2012? Absolutely not !! Obama and his crowd of thugs needs to be escorted off stage . . . . nothing is more important in 2012 than this action.
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