Wealth (motivated by greed and selfishness)
Privatizes Profits but Socializes Losses.
So What does $500 Billion Buy? What Does 1 Trillion Buy ?
A reader asked what any of the bailout numbers represent in the real world. We know $500 billion, $700 billion or now the new Paulson plan of $1.8 trillion is a lot, but put this in terms that everyone can understand. A few examples for 2007:* Microsoft generated $51 billion in revenue.Those are the numbers for some of the largest businesses in the US. For the US budget, here are a few examples from Bush's budget in 2007:
* Citi, who has been hit hard in the credit crisis, saw $159 billion.
* Walmart's 2007 total revenue was $388 billion.
* ExxonMobil generated $404 billion.* Veterans' benefits at $73 billionIn total, the 2007 federal budget was a total of $2.8 trillion. The latest updates for the Paulson bailout plan are pushing $1.8 trillion. For next year, we will start the year in a pretty big financial hole and it's going to have to be made up somewhere.
* Education was $90 billion
* Interest on US debt was $244 billion
* Medicare $395 billion
* Defense was $548 billion
* Social Security was $586
What does $1 Trillion Buy ? (Hint: All those Things that Politicians Were not Willing to Extend to the Ordinary American-- precisely because "the little people don't matter" to wealthy politicians. Not only sould Americans have the opportunity to renegotiate their mortgages, but that $700B to $1T could easily have paid for Slavery Reparations and for 40 Acres and A Mule for the descendants of slaves.)
The American Public is the real FOOL if they allow themselves to be trampled over by this Bailout Legislation, while investment bankers get golden parachutes and bonus packages.. If you vote against your own economic interests (while politicians, liars & thieves get away w/ larceny and no jail time), then you deserve to have your money stolen from you.