Monday, September 29, 2008

I have been reading in the news that the government is planning a bailout of the nations lenders.

That is a bailout costing hundreds of billions of dollars. I seem to recall that the United States has not had a spending surplus for many, many years. Our country spends much more than it takes in creating an annual budget deficit. That means we don't have any extra money that isn't already earmarked.

So where are we getting the money we are using for this economic bailout ?

We will have to borrow it.

Yes we borrow the money to save the people who lend us money.

Is this a weird shell game or what ?

2 comments:

Jane-Jane said...

yes it is a weird game...only China is lending and not borrowing from anyone. freaks me out!

Charles said...

Patience is a virtue the Chinese culture understands and values.

One day they shall be completely in control.

BTW where do they get this money...Why from us buying all those gadgets.