Should I remind you who spent 700 BILLION DOLLARS on bailing out banks? Do you know how much money is this? Whole artemis project is like 100 billion so far. For 700B you could send people to mars back and forth and you’d still have a spare change after.
What about now?
What about now? There’s always some shit going on to justify spending beyond the means.
I have prognosis: The debt will be ballooning out of control no matter the president democrat or republican until it reaches like 200-300% of GDP in 10-20y and then some random event causes whole thing to implode in global crisis that’ll make great depression look like a child’s play.
Should I remind you who spent 700 BILLION DOLLARS on bailing out banks?
Congress authorized $700 billion for TARP, signed into law by GWB in 2008. In 2010, Obama signed Dodd-Frank, which mainly introduced banking regulation meant to prevent a future crisis but also reduced the amount of money authorized to $475 billion. Four years later, the Treasury sold its last TARP assets, booking a $15.3 billion surplus over the lifetime of the program.
Should I remind you who spent 700 BILLION DOLLARS on bailing out banks? Do you know how much money is this? Whole artemis project is like 100 billion so far. For 700B you could send people to mars back and forth and you’d still have a spare change after.
What about now? There’s always some shit going on to justify spending beyond the means.
I have prognosis: The debt will be ballooning out of control no matter the president democrat or republican until it reaches like 200-300% of GDP in 10-20y and then some random event causes whole thing to implode in global crisis that’ll make great depression look like a child’s play.
Congress authorized $700 billion for TARP, signed into law by GWB in 2008. In 2010, Obama signed Dodd-Frank, which mainly introduced banking regulation meant to prevent a future crisis but also reduced the amount of money authorized to $475 billion. Four years later, the Treasury sold its last TARP assets, booking a $15.3 billion surplus over the lifetime of the program.
https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program
Much of the bank bailout actually made the treasury a profit. It was paid back.
Yes, it’s a significant chunk of how much we throw at the military every single year.