Republican Looting For Rich Continues
The Republicans would not spend 30 million over 5 years to help provide health care to the nation's poor children, however the the Republicans gladly added US debt of a trillion dollars to pay for 2 wars, an almost trillion that was supposed to buy up toxic mortgages but was instead used to buy stock. Now we have the greatest end run of government responsibility of all, the Federal Reserve is financing $7.8 trillion in debt that is basically in helping pay for the credit swap debit that estimated to be larger than the assets of the world.
(New York Times)
And how is the federal reserve paying for this? - by printing money meaning inflation! Everyone one's dollar will be worth less. Through inflation we will all be taxed. We didn't have the money for health care, helping people pay mortgages, or converting to green energy. However the Republicans had the money to save the "credit swap" bets of the very rich. Truly Republicans are the government of the rich. by the rich and for the rich. This time will live in Republican "spend, spend, spend" infamy and the most enormous redistribution of more wealth to the wealthy. Furthermore, with all the money in the hands of a few, we truly might have King Midas end to this story. We would have been way better off declaring all credit swaps null and void! We could created a US bank that borrowed only for legitimate business and never for credit swaps, letting "credit swap" banks go through bankruptcy. And especially notice how little media attention is being devoted to the $7.8 trillion, it is invisible news!. What news is out there was published on Thanksgiving day. In fact, I would wonder if the super rich did not arrange for news to hit during the Mumbai distraction. $7.8 trillion should have 2 million times the fuss that was made about spending 30 million over 5 years to help provide health care to the nation's poor children.