Thursday, November 27, 2008

The Absurdity of the Stimulus Package

Here is a graphic from the Wall Street Journal regarding the size of the stimulus package.

I hope to comment on it more tomorrow.

1 comment:

TheTrucker said...

Every bit of this stuff is unconstitutional except funds pulled from the TARP $700B. The FDIC is not on the hook for money that has not been appropriated by the Congress and the same is true for the loan made to AIG by the Fed.

We the people do not owe any of this money. The House of Representatives has not appropriated these funds. Show me the appropriations other than the $700B.

The Federal Reserve using its congressional authorization as LENDER of last resort and acting to rescue the currency can do as it will. But these operations will have created additional dollars or reduced the amount of dollars. Such activities do not commit the people of the USA to any debt or taxation. Debt and taxation are the domain of the elected government and all such obligations must come into existence in the House of Representatives.

If I am wrong then show me. The alternative is to say we are no longer a Constitutional republic of laws.