“The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret… Add up guarantees and lending limits, and the Fed had committed $7.77 TRILLION as of March 2009 to rescuing the financial system...”
While Congress and the White House were reporting that the Troubled Asset Relief Program (TARP) bail-out numbers were at the $700 billion level, SECRET loans that completely DWARFED the public numbers were offered at below market rates by the Federal Reserve to numerous banks whose executives were held to strict confidentiality!
Barry Soetoro’s administration and the congressional regulatory committees were surely aware of this “shadow bail-out” that went on under the direction of Federal Reserve Chairman Ben Bernanke. They chose to completely circumvent the American people!
This condescending, dismissive attitude was used to force ObamaCare on Americans, helped keep the “secret bail-out” under wraps for over two years, and is evident today in the Obama administration’s attempt to launch yet another round of massive debt-fueled spending!
We say “enough is enough”! This administration and Congress need to be told in no uncertain terms that Americans insist they STOP spending and STOP raising taxes! That’s why Liberty Counsel Action is launching a massive Petition drive to demand that Congress listen to the American people!
The three stooges, of Obama, Pelosi and Reid have a game plan. They say Spend more and raise taxes! The Saul Alinsky playbook is open and Barry has the Class Warfare started.
Please Go and sign the powerful new “Stop the Spending Now” Petition HERE.
Fire Barry Now!
•January 2012 ushers in payment cuts of 30% to Medicare doctors.
•American workers' 2% payroll (FICA) tax cut passed last year for one year will revert back to its 2010 levels.
•Two million unemployed workers will lose their unemployment benefits.
Government spending is out of control and unsustainable.
•The U.S. national debt now exceeds $15 trillion, a liability of over $133,000 per taxpayer.
•The U.S. funded and unfunded liabilities debt (promised future obligations) now exceeds $116 trillion, a debt of over $1 million per taxpayer!
Last summer, in the wake of the debt ceiling crisis, the so-called “Debt Super Committee” was created and charged with finding $1.5 trillion in spending cuts over the next ten years. Last week, the Super Committee announced that the members had failed to reach an agreement. Conservatives knew this was a joke, a waste of time and now Barry Soetoro can blame Republicans.
Now, the fall-back mechanism of “sequestration” is in play, involving a mandatory $1.2 trillion cut from the federal budget, half from defense and half from non-defense items, starting in 2013.
Unless changes are immediately made, our national debt could be double the size of our gross domestic economy in short order! Tragically, we are well established on the path to complete financial ruin. Barry must go now! Holder, Sotomayor, Rev. Wright, Solyndra, Fast and Furious, New Black Panthers, ACORN, SEIU and much much more! The reasons are plentiful, so let's fire Barry Now!
Yet leftists want to RAISE TAXES to offset spending. This insanity must not be tolerated!
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