Since Obama Has Taken Office He And The Democrat Owned Congress Have Spent One Billion Dollars AN HOUR!

3-11-09

From the Republican Senate Leader Mitch McConnell’s website:

“The Budget’s $3.6 trillion price tag comes on top of a housing plan that went into effect last week that could cost a quarter of a trillion dollars, a financial bailout that could cost another $1 to $2 trillion, and a Stimulus bill that will cost, with interest, more than a trillion dollars. Some are now talking about another stimulus. The national debt is more than $10 trillion. And we just passed yesterday a $410 billion government spending bill that represented an increase in government spending over last year of twice the rate of inflation.

“In just 50 days, Congress has voted to spend about $1.2 trillion between the Stimulus and the Omnibus. To put that in perspective, that’s about $24 billion a day, or about $1 billion an hour—most of it borrowed. There’s simply no question: government spending has spun out of control.

A billion dollars a day on just two spending bills since Obama took office? Let’s see 50 days would be 1200 hours so that billion bucks a day would be spot on and this obviously does not even include the budget or the second stimulus package that is being bandied about in the halls of Congress.

Actually the second stimulus should be referred to as the first stimulus because we know the first time around was to merely pay back all of the left wing groups that helped Obama get elected and fund a bunch of liberal projects the Democrats have been salivating to ram through Congress the minute Bush’s veto pen was retired.

WASHINGTON — The ink is barely dry on the $787 billion economic stimulus package enacted by Congress, and talk is already beginning on Capitol Hill of the need for a second measure to spur job growth.

Speaker Nancy Pelosi (D., Calif.) said Tuesday that lawmakers must give the just-approved package of tax cuts and government spending a chance to work. The bulk of the funds from the $787 billion package are flowing out of government coffers over the next two years, in hopes of lifting the economy of its downward spiral.

But Mrs. Pelosi suggested she’s not ruling out action on another measure if the economy remains weak. “We have to keep the door open,” Rep. Pelosi said after a closed-door meeting with several private economists. The speaker stressed the goal of lawmakers is not just to spur job growth, but to shore consumer and business sentiment, as well.

“The word of the day is confidence,” she said. “Confidence in our markets, confidence in lending, confidence in our financial institutions.”

The bulk of the funds from the $787 billion package are flowing out of government coffers over the next two years, in hopes of lifting the economy of its downward spiral.

Now there is a quote that pretty well sums up just how concerned the Democrats are about the state of the economy.

Read the rest of the wallstreetjournal.com article here>>>

This entry was posted in Economy, U.S..

One Response to Since Obama Has Taken Office He And The Democrat Owned Congress Have Spent One Billion Dollars AN HOUR!

  1. Pingback: just a regular guy » Obama, Biden Scold States About How To Spend Bailout Money While Administration Clueless Where Bank TARP Funds Have Gone

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