Forever In Their Debt: "In Congress Emergency Means You Don't Need To Pay For It"

ABC Video - Jonathan Karl - June 2010

To demonstrate how quickly the national debt is growing, we are posting this clip that aired on ABC seven months ago when the debt first crossed $13 trillion.  We are now past $14 trillion.  Excellent reporting from Jonathan Karl, including hypocrisy from Harry Reid that confirms what you already know.

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Cartoon Slideshow - Politics, Economics, Wall Street, Bailout, AIG, Federal Reserve, National Debt

Comments

[dogismyth]

what about foreign aid to Israel? 10s of billions per year. And for what? Anyone .....anyone at all.

[Dr. Pitchfork]

dogismyth, it's only about 2.5 - 3.0 B. We give a similar amount to Egypt, as well as hundreds of millions to Indonesia, Kenya, Jordan, Russia, and the Palestinian Territories. Plus, we give billions to Pakistan, Afghanistan and Iraq. And we shouldn't forget Mexico and Columbia -- they're on the gravy train, too.

But all told, we only give away about 26B -- that's barely half of what we gave to Citigroup.

[Cheyenne]

Dr. P--

Always one to keep his eye on the ball. Much appreciated.

I must say. Today I was listening to some Geithner-opponent tapes on youtube. Geithner is the epitome of a ponzi scheme, he just talks nonsense until the questions fade.

Fabio or Fabreze asked him straight-up if the 100-cents-on-the-dollar backdoor AIG payouts were for credit default swaps or NAKED credit default swaps, and the worm wouldn't--as in openly refused to--answer. And that was after he acknowledged that AIG execs themselves had negotiated counter-parties down to 60 cents on the dollar.

Then it turns out there's a 3" bronze (worthless) coin of Henry Paulson floating around for $42.

Honestly. What is next?