In the United Kingdom's parlimentary system, the opposing coalition or party often refers to itself as the shadow government. Under Barack Obama and previous government expansionist presidents, democracy itself has become the shadow government, the party of opposition laying in wait in the hope that it can take over some day.
Monday, July 20, 2009
Worst Case Scenario $23 Trillion in Federal Spending on Bailouts
Whew! I was so worried it would be less than TWICE the GDP for a single year. Thank goodness Bush and Obama have decided to save all those institutions. Who knows what it might have cost to let them fail. Shoot me now. It is interesting to note that the sum total of FDR's New Deal was calculated to be $500 billion in 2008 dollars. Seriously, President Obama's 2010 budget is $3.6 trillion. How insane has federal spending become?
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