This week, House Republicans are planning to introduce $4 trillion in federal spending cuts that would go into effect over the next decade. How nice to see a proposal that entails 10 years worth of cuts instead of ten years worth of increased spending. Republicans are getting the message. Let's hope the Democrats are not too far behind.
I saw a clip last night of Senate Majority Leader Harry Reid in which he was blaming the craziness of Republican proposed spending cuts on the Tea Party. What Harry Reid and his fellow Spendo-crats are failing to realize is that this is not just the sentiment of the Tea Party, but is the sentiment of the American Taxpayer who thinks it is time for our government to start spending less.
Our sitting President officially launched is re-election campaign for 2012 today. What you won't see in any of his campaign ads is that his budget numbers are so inaccurate that the politically-independent Congressional Budget Office say the President's deficit projections are over $2 trillion lower than they should be when looking at the next decade. Clearly, the Master & Commander is going to hit the campaign trail painting a more rosy picture of our future than actually exists.
The Republican spending cut proposal also comes with strict spending caps in select areas. With the government looking to once again change the law to allow even more deficit spending by raising the legally-allowed debt ceiling to rise once again, it is time for the American taxpayer to take a stand. "We are going to put out a plan that gets our debt on a downward trajectory and gets us to a point of giving our next generation a debt-free nation," said Republican House Representative and Budget Committee Chairman from Wisconsin Paul Ryan.
With the current budget extension bill expiring this week, Republicans and Democrats need to come together quickly to prevent a government shutdown. There is going to be all sorts of wrangling back and forth on what should be cut and what should be left alone. Each side believes that certain spending should be immune from cuts and certain spending is ready for the chopping block. Finding a consensus on what will be cut and what will be protected will not be an easy process.
Be sure to keep an eye on Washington this week. They are going to spend quite a bit of time talking about your money, how they are going to spend it, and how much more debt they are looking to put on your shoulders.
Showing posts with label deficit. Show all posts
Showing posts with label deficit. Show all posts
Monday, April 4, 2011
Wednesday, August 4, 2010
Americans Owe Less...
You have no doubt heard by now, or perhaps have experienced first hand, that credit is a lot harder to come by than it was just a couple years ago. This may, in fact, not be such a bad thing for American consumers, forcing them to live within their means and drive down debt balances.
In March 2009, outstanding non-mortgage debt in the U.S. was $2.54 Trillion. By March 2010, that number had dropped to $2.45 Trillion. That's just about $9 Billion, but it is a good start in the right direction.
There have now been 18 straight months that have seen the level of revolving debt drop, with $935 Billion in March 2009, down to $853 Billion in March 2010.
Also, there are 16% less Americans that are 90 days behind or more on their credit cards today than a year ago, and 20% less that are 60 days behind or more on a car loan.
In March 2009, outstanding non-mortgage debt in the U.S. was $2.54 Trillion. By March 2010, that number had dropped to $2.45 Trillion. That's just about $9 Billion, but it is a good start in the right direction.
There have now been 18 straight months that have seen the level of revolving debt drop, with $935 Billion in March 2009, down to $853 Billion in March 2010.
Also, there are 16% less Americans that are 90 days behind or more on their credit cards today than a year ago, and 20% less that are 60 days behind or more on a car loan.
Tuesday, August 3, 2010
Can We Talk About Spending Cuts, Please?...
We are going to be hearing some fierce debate in the coming weeks, and perhaps months, about the expiration of the Bush tax cuts from 2001 and 2003. While I do see this as something that we should be debating, the fact remains that the expiration of these tax cuts, as they will be allowed to expire by The Master and Commander, will only affect the top three percent of households in the country. The problem with the equation, however, is that these are the three percent of households that run the small businesses that create the jobs that we need so badly right now. I am hearing from the Master and Commander's Money Manager that they are now, after record-setting spending and borrowing, concerned about the growing national debt, and believe that allowing these tax cuts on people making more than $250,000 a year to expire will help bring down the deficit. Perhaps it will, but I also believe that the expiration of these tax cuts may have an effect on job creation by enterpreneurs. There will be a change in their bottom line and that change could result in them becoming wary of creating new jobs. Unlike the federal government, most people spend less when their income is reduced.
While all of this debate about the tax cuts is needed, I would very much like to see our government leaders, especially those on a particular side of the aisle, talking more about spending cuts. Spending cuts? In the middle of the worst economic crisis in history, with less and less money coming in, you want us to spend less? Now, that's just crazy talk, stupid constituent! There are so, so many ways in which our local, state, and federal governments can cut down on their spending, much in the same way that they have all seen the rest of America do during this crisis. We are not holding the federal government and this administration to the spending cuts that we should be seeing.
For a great example of government waste, I recently read a story about an Orange Country resident who was issued and received by mail a bill from the U.S. IRS for 1-cent. Now, of course, this is a drop in the well, nothing compared to other spending, etc. etc., but it is a good concrete example of somewhere we could start - proof positive that there are places that we could cut wasteful spending - most likely proof positive that if we are seeing waste like this, there is also waste elsewhere that we could cut.
So, as we all get caught up in this debate on the tax cuts, let's watch for the slight of hand and these politicians try to take our eyes away from where we should be looking - forcing them to spend less and save more, just like the rest of us are doing.
While all of this debate about the tax cuts is needed, I would very much like to see our government leaders, especially those on a particular side of the aisle, talking more about spending cuts. Spending cuts? In the middle of the worst economic crisis in history, with less and less money coming in, you want us to spend less? Now, that's just crazy talk, stupid constituent! There are so, so many ways in which our local, state, and federal governments can cut down on their spending, much in the same way that they have all seen the rest of America do during this crisis. We are not holding the federal government and this administration to the spending cuts that we should be seeing.
For a great example of government waste, I recently read a story about an Orange Country resident who was issued and received by mail a bill from the U.S. IRS for 1-cent. Now, of course, this is a drop in the well, nothing compared to other spending, etc. etc., but it is a good concrete example of somewhere we could start - proof positive that there are places that we could cut wasteful spending - most likely proof positive that if we are seeing waste like this, there is also waste elsewhere that we could cut.
So, as we all get caught up in this debate on the tax cuts, let's watch for the slight of hand and these politicians try to take our eyes away from where we should be looking - forcing them to spend less and save more, just like the rest of us are doing.
Tuesday, July 20, 2010
$20,000 In "Stimulus" Money For Two Road Signs That Were Up For About A Month...
Make no mistake about it...I love living in Aliso Viejo, and I am planning to continue to do so for the foreseeable future. One of the great things about living where I do is our large number of parks and open areas. Every single street is beautifully landscaped and literally every part of the city is well maintained. We have a great fireworks show every Fourth of July and a lot of community activities, including a brand new aquatic center. Now, we all know that this doesn't come cheap. I currently pay $339.52 a year to the city association to help fund our pleasing-to-the-eye lifestyle.
Another great thing about Aliso Viejo is that thanks to this city association fund, our streets are re-paved much more often than they are in other cities. As soon as you are within the city, you immediately notice how well the streets are maintained. So, earlier this year when signs went up and preparations began for the re-paving of all of the streets around our community, I didn't really give it a second thought. They were just re-paving the streets again. That was, however, until they put up the big green signs at either end of the roadwork stating the re-paving of these roads could be credited back to "The American Reinvestment and Recovery Act".
Now don't get me wrong, at some point down the road if using "stimulus" money right now results in a reduction in my city association dues, I will be pleased as punch, but I find it hard to believe that I am going to see that. I am sure the money saved will just be put into another areas of the community.
Either way, these large green signs got me thinking about all of the areas in other parts of Orange County that could have probably used that stimulus money much more than Aliso Viejo. I began to wonder why with the horrific state of some of the schools in Orange County was this federal stimulus money going to pave the roads in a community where the residents paid an association fee to pave the roads? Didn't this just seem like more government waste?
By the time I was done thinking about it, I was, as usual, pretty steamed. It seemed ridiculous to spend this money on our roads in Aliso Viejo instead of on schools, children's programs, or GOD FORBID! reducing taxes for the middle class!
While I am admittedly sorry that I did not do so, but I had planned on having Teresa take a picture of me standing next to one of those big green signs with the little Soviet flag that is part of my cold war display at the house, but we never got around to it. The roadwork finished up months ago and while I sometimes think on those big green signs once in a while, I have moved on to other things.
That was until today when I ran across this article about my now-gone big green signs. An article that explains, quite simply, that the reason that my roads were being paved instead of money going to schools or reducing tax burdens was to employ the people who were working on the road outside my house.
The true purpose of the project was to ensure those road workers had money in their pockets. Money that they would take outside of our community, back home to theirs, and spend. Exactly how the stimulus money is supposed to work, right? I get it - I'm onboard - I'm part of the team! Well, as much as I can be.
I then, however, began to reflect on what I know about any government-funded projects...the $500 paper clip. Anyone who tells you that a large percentage of the funding for any project doesn't simply get wasted and blown on inflated hourly rates, inflated material costs, and the bureaucracy that makes it all possible, is just flat out lying.
The proof of this is in the fact that my two big green signs supposedly cost $10,000 a piece to make, put up, and take down. Multiple that $10,000 by all of the big green signs that are going up wherever "stimulus" money is being spent across this fine nation, and we, the taxpayer, are spending millions of dollars on those big, temporary green signs.
I think some of the Facebook comments I saw put it best: "Waste our money to let us know you're wasting our money."...and..."Way to go, big government...and thank you, people who support big government. You are doing one hell of a job!"
Signs of the Stimulus
Some Call it Transparency, Others Another Example of Government Waste
By JONATHAN KARL and GREGORY SIMMONS
As the midterm election season approaches, new road signs are popping up everywhere – millions of dollars worth of signs touting "The American Reinvestment and Recovery Act" and reminding passers-by that the program is "Putting America Back to Work."
On the road leading to Dulles Airport outside Washington, DC there's a 10' x 11' road sign touting a runway improvement project funded by the federal stimulus. The project cost nearly $15 million and has created 17 jobs, according to recovery.gov.
However, there's another number that caught the eye of ABC News: $10,000. That's how much money the Washington Airports Authority tells ABC News it spent to make and install the sign – a single sign – announcing that the project is "Funded by The American Reinvestment and Recovery Act" and is "Putting America Back to Work." The money for the sign was taken out of the budget for the runway improvement project.
ABC News has reached out to a number of states about spending on stimulus signs and learned the state of Illinois has spent $650,000 on about 950 signs and Pennsylvania has spent $157,000 on 70 signs. Other states, like Virginia, Vermont, and Arizona do not sanction any signs.
One state brags it posts signs but manages to keep the process cost-effective. The Tennessee Department of Transportation boasts, "There are a total of 324 signs statewide for a total cost of $12,931 and an average of $37.67 each." The reason for the small cost, they say, is that their signs are small-- about equal to a speed limit sign.
In response to questions by ABC News, Jill Zuckman of the Department of Transportation said, "The best estimate is that states have spent about $5 million of the $28 billion spent on road projects on signs – or less than .02 percent of overall project spending."
Still, some Republicans are crying foul. Congressman Darrell Issa, Chairman of the House Committee on Oversight and Government Reform, sent a letter to Earl Devaney, Chairman of the Recovery Act and Transparency and Accountability Board, requesting an investigation to "determine the scope and impact of the Obama administration's guidance" regarding signs to stimulus recipients.
Rep. Issa writes that the passage of the Stimulus Bill, "has provided an opportunity for the Obama administration to claim political credit for the various projects around the country that have been funded by this redistribution of taxpayer dollars."
At the center of the controversy are a series of guidelines provided to stimulus recipients. In the letter, Rep. Issa cites what he calls "perhaps the most overly political guidance on stimulus advertising" involving the Department of Housing and Urban Development and a stimulus recipient. According to investigators from the oversight committee, HUD provided the Office of Native American Programs with information on "signage requirements." The document suggested a sign template informing the public the projects had been, "Funded By: American Recovery and Reinvestment Act, Barack Obama, President."
Congressman Aaron Schock (R-IL) has joined the chorus of Republican outrage over stimulus signs and claims at least $20 million has been spent on them. He told ABC News, "I think it's a bit of an oxymoron to spend tens of millions of dollars of taxpayer money, borrowed money, on a bunch of signs to tell them how we are spending their taxpayer money."
Schock's office provided ABC News with administration guidance on stimulus signs sent to him from a constituent. The document, dated March of 2009, outlines the "General Guidelines for Emblem and Logo Applications." The Recovery Act logo which was provided not only looks oddly similar to the Obama logo from the 2008 campaign but its stated purpose, according to the document, is to act as "a symbol of President Obama's commitment to the American people to invest their tax dollars wisely and put Americans back to work."
Rep. Schock argues that the signs are not a wise investment at all, but rather, a waste of money. He took to the House floor today to offer a bill, "to prevent funding from the American Recovery and Reinvestment Act of 2009 from being used for physical signage indicating that a project is funded by such Act, and for other purposes."
Massachusetts Democrat James McGovern fired back, "This is the best we can get? Not putting up signs?" He continued, "How about paying for the tax cuts for the rich that my friends on the other side of the aisle passed? Hundreds of billions of dollars in debt that you put on the backs of my kids and my grandkids so that the wealthiest of the wealthy in this country can get a tax break."
When asked about Republican outcry over spending on stimulus signs, White House Press Secretary Robert Gibbs quipped, " I'm glad the Republicans have noticed the several – nearly 11,000 road projects that are underway this summer."
-Robin Gradison and Avery Miller contributed to this report.
Another great thing about Aliso Viejo is that thanks to this city association fund, our streets are re-paved much more often than they are in other cities. As soon as you are within the city, you immediately notice how well the streets are maintained. So, earlier this year when signs went up and preparations began for the re-paving of all of the streets around our community, I didn't really give it a second thought. They were just re-paving the streets again. That was, however, until they put up the big green signs at either end of the roadwork stating the re-paving of these roads could be credited back to "The American Reinvestment and Recovery Act".
Now don't get me wrong, at some point down the road if using "stimulus" money right now results in a reduction in my city association dues, I will be pleased as punch, but I find it hard to believe that I am going to see that. I am sure the money saved will just be put into another areas of the community.
Either way, these large green signs got me thinking about all of the areas in other parts of Orange County that could have probably used that stimulus money much more than Aliso Viejo. I began to wonder why with the horrific state of some of the schools in Orange County was this federal stimulus money going to pave the roads in a community where the residents paid an association fee to pave the roads? Didn't this just seem like more government waste?
By the time I was done thinking about it, I was, as usual, pretty steamed. It seemed ridiculous to spend this money on our roads in Aliso Viejo instead of on schools, children's programs, or GOD FORBID! reducing taxes for the middle class!
While I am admittedly sorry that I did not do so, but I had planned on having Teresa take a picture of me standing next to one of those big green signs with the little Soviet flag that is part of my cold war display at the house, but we never got around to it. The roadwork finished up months ago and while I sometimes think on those big green signs once in a while, I have moved on to other things.
That was until today when I ran across this article about my now-gone big green signs. An article that explains, quite simply, that the reason that my roads were being paved instead of money going to schools or reducing tax burdens was to employ the people who were working on the road outside my house.
The true purpose of the project was to ensure those road workers had money in their pockets. Money that they would take outside of our community, back home to theirs, and spend. Exactly how the stimulus money is supposed to work, right? I get it - I'm onboard - I'm part of the team! Well, as much as I can be.
I then, however, began to reflect on what I know about any government-funded projects...the $500 paper clip. Anyone who tells you that a large percentage of the funding for any project doesn't simply get wasted and blown on inflated hourly rates, inflated material costs, and the bureaucracy that makes it all possible, is just flat out lying.
The proof of this is in the fact that my two big green signs supposedly cost $10,000 a piece to make, put up, and take down. Multiple that $10,000 by all of the big green signs that are going up wherever "stimulus" money is being spent across this fine nation, and we, the taxpayer, are spending millions of dollars on those big, temporary green signs.
I think some of the Facebook comments I saw put it best: "Waste our money to let us know you're wasting our money."...and..."Way to go, big government...and thank you, people who support big government. You are doing one hell of a job!"
Signs of the Stimulus
Some Call it Transparency, Others Another Example of Government Waste
By JONATHAN KARL and GREGORY SIMMONS
As the midterm election season approaches, new road signs are popping up everywhere – millions of dollars worth of signs touting "The American Reinvestment and Recovery Act" and reminding passers-by that the program is "Putting America Back to Work."
On the road leading to Dulles Airport outside Washington, DC there's a 10' x 11' road sign touting a runway improvement project funded by the federal stimulus. The project cost nearly $15 million and has created 17 jobs, according to recovery.gov.
However, there's another number that caught the eye of ABC News: $10,000. That's how much money the Washington Airports Authority tells ABC News it spent to make and install the sign – a single sign – announcing that the project is "Funded by The American Reinvestment and Recovery Act" and is "Putting America Back to Work." The money for the sign was taken out of the budget for the runway improvement project.
ABC News has reached out to a number of states about spending on stimulus signs and learned the state of Illinois has spent $650,000 on about 950 signs and Pennsylvania has spent $157,000 on 70 signs. Other states, like Virginia, Vermont, and Arizona do not sanction any signs.
One state brags it posts signs but manages to keep the process cost-effective. The Tennessee Department of Transportation boasts, "There are a total of 324 signs statewide for a total cost of $12,931 and an average of $37.67 each." The reason for the small cost, they say, is that their signs are small-- about equal to a speed limit sign.
In response to questions by ABC News, Jill Zuckman of the Department of Transportation said, "The best estimate is that states have spent about $5 million of the $28 billion spent on road projects on signs – or less than .02 percent of overall project spending."
Still, some Republicans are crying foul. Congressman Darrell Issa, Chairman of the House Committee on Oversight and Government Reform, sent a letter to Earl Devaney, Chairman of the Recovery Act and Transparency and Accountability Board, requesting an investigation to "determine the scope and impact of the Obama administration's guidance" regarding signs to stimulus recipients.
Rep. Issa writes that the passage of the Stimulus Bill, "has provided an opportunity for the Obama administration to claim political credit for the various projects around the country that have been funded by this redistribution of taxpayer dollars."
At the center of the controversy are a series of guidelines provided to stimulus recipients. In the letter, Rep. Issa cites what he calls "perhaps the most overly political guidance on stimulus advertising" involving the Department of Housing and Urban Development and a stimulus recipient. According to investigators from the oversight committee, HUD provided the Office of Native American Programs with information on "signage requirements." The document suggested a sign template informing the public the projects had been, "Funded By: American Recovery and Reinvestment Act, Barack Obama, President."
Congressman Aaron Schock (R-IL) has joined the chorus of Republican outrage over stimulus signs and claims at least $20 million has been spent on them. He told ABC News, "I think it's a bit of an oxymoron to spend tens of millions of dollars of taxpayer money, borrowed money, on a bunch of signs to tell them how we are spending their taxpayer money."
Schock's office provided ABC News with administration guidance on stimulus signs sent to him from a constituent. The document, dated March of 2009, outlines the "General Guidelines for Emblem and Logo Applications." The Recovery Act logo which was provided not only looks oddly similar to the Obama logo from the 2008 campaign but its stated purpose, according to the document, is to act as "a symbol of President Obama's commitment to the American people to invest their tax dollars wisely and put Americans back to work."
Rep. Schock argues that the signs are not a wise investment at all, but rather, a waste of money. He took to the House floor today to offer a bill, "to prevent funding from the American Recovery and Reinvestment Act of 2009 from being used for physical signage indicating that a project is funded by such Act, and for other purposes."
Massachusetts Democrat James McGovern fired back, "This is the best we can get? Not putting up signs?" He continued, "How about paying for the tax cuts for the rich that my friends on the other side of the aisle passed? Hundreds of billions of dollars in debt that you put on the backs of my kids and my grandkids so that the wealthiest of the wealthy in this country can get a tax break."
When asked about Republican outcry over spending on stimulus signs, White House Press Secretary Robert Gibbs quipped, " I'm glad the Republicans have noticed the several – nearly 11,000 road projects that are underway this summer."
-Robin Gradison and Avery Miller contributed to this report.
Tuesday, May 26, 2009
Welcome Back, Now Get To Work...
Welcome back to work, America! I hope you enjoyed your day off. I sure did!
But, now it is time to get back to work because your portion of the federal deficit is $35,000! Wait until 2012 -- you're portion doubles to $70,000 by then.
The fed is going to expect you, the taxpayer, to come up with your share. Well, that is unless you're not one of those idiots out there like me, working so you can give away a total of 50% of your income in income taxes, and sales taxes, and car taxes, and gas taxes, and phone taxes, and pretty soon, I am sure, breathing taxes.
Don't worry, though, that $70,000 figure is based on numbers that are completely skewed and inaccurate that were contrived to undersell you on how much your portion really is, so chances are, you're probably into the fed's debt for much more than $70,000 by 2012.
While you're stewing on the fact that 50% of all that you earn, on average, America, goes to some form of tax (research it, keep track when you pay your bills and buy gas, and you're gonna be surprised), here is a list of all of the banks that got your money and are now going to be sticking it to you with higher interest rates on any debt that you have with them because America has not given them enough already:
10/28/2008 Wells Fargo & Co. San Francisco Calif. $25,000,000,000
10/28/2008 State Street Corp. Boston Mass. $2,000,000,000
10/28/2008 Bank of America Corp.1 Charlotte N.C. $15,000,000,000
10/28/2008 JPMorgan Chase & Co. New York N.Y. $25,000,000,000
10/28/2008 Citigroup Inc. New York N.Y. $25,000,000,000
10/28/2008 Morgan Stanley New York N.Y. $10,000,000,000
10/28/2008 Goldman Sachs Group Inc. New York N.Y. $10,000,000,000
10/28/2008 Bank of New York Mellon Corp. New York N.Y. $3,000,000,000
11/17/2008 Regions Financial Corp. Birmingham Ala. $3,500,000,000
11/17/2008 UCBH Holdings Inc. San Francisco Calif. $298,737,000
11/17/2008 Bank of Commerce Holdings Redding Calif. $17,000,000
11/17/2008 Broadway Financial Corp. Los Angeles Calif. $9,000,000
11/17/2008 SunTrust Banks Inc. Atlanta Ga. $3,500,000,000
11/17/2008 Northern Trust Corp. Chicago Ill. $1,576,000,000
11/17/2008 Provident Bancshares Corp. Baltimore Md. $151,500,000
11/17/2008 U.S. Bancorp Minneapolis Minn. $6,599,000,000
11/17/2008 TCF Financial Corp.2 Wayzata Minn. $361,172,000
11/17/2008 BB&T Corp. Winston-Salem N.C. $3,133,640,000
11/17/2008 1st FS Corp. Hendersonville N.C. $16,369,000
11/17/2008 Valley National Bancorp Wayne N.J. $300,000,000
11/17/2008 KeyCorp Cleveland Ohio $2,500,000,000
11/17/2008 Huntington Bancshares Columbus Ohio $1,398,071,000
11/17/2008 Umpqua Holdings Corp. Portland Ore. $214,181,000
11/17/2008 First Horizon National Corp. Memphis Tenn. $866,540,000
11/17/2008 Comerica Inc. Dallas Texas $2,250,000,000
11/17/2008 Zions Bancorporation Salt Lake City Utah $1,400,000,000
11/17/2008 Capital One Financial Corp. McLean Va. $3,555,199,000
11/17/2008 Washington Federal Inc. Seattle Wash. $200,000,000
11/17/2008 Marshall & Ilsley Corp. Milwaukee Wis. $1,715,000,000
11/21/2008 City National Corporation Beverly Hills Calif. $400,000,000
11/21/2008 Pacific Capital Bancorp Santa Barbara Calif. $180,634,000
11/21/2008 Heritage Commerce Corp. San Jose Calif. $40,000,000
11/21/2008 First PacTrust Bancorp, Inc. Chula Vista Calif. $19,300,000
11/21/2008 Nara Bancorp, Inc. Los Angeles Calif. $67,000,000
11/21/2008 Webster Financial Corporation Waterbury Conn. $400,000,000
11/21/2008 Centerstate Banks of Florida Inc. Davenport Fla. $27,875,000
11/21/2008 Ameris Bancorp Moultrie Ga. $52,000,000
11/21/2008 Taylor Capital Group Rosemont Ill. $104,823,000
11/21/2008 Porter Bancorp Inc. Louisville Ky. $35,000,000
11/21/2008 Boston Private Financial Holdings, Inc. Boston Mass. $154,000,000
11/21/2008 Severn Bancorp, Inc. Annapolis Md. $23,393,000
11/21/2008 Trustmark Corporation Jackson Miss. $215,000,000
11/21/2008 First Niagara Financial Group Lockport N.Y. $184,011,000
11/21/2008 Western Alliance Bancorporation Las Vegas Nev. $140,000,000
11/21/2008 First Community Corporation Lexington S.C. $11,350,000
11/21/2008 HF Financial Corp. Sioux Falls S.D. $25,000,000
11/21/2008 First Community Bankshares Inc. Bluefield Va. $41,500,000
11/21/2008 Banner Corporation Walla Walla Wash. $124,000,000
11/21/2008 Cascade Financial Corporation Everett Wash. $38,970,000
11/21/2008 Columbia Banking System, Inc. Tacoma Wash. $76,898,000
11/21/2008 Heritage Financial Corporation Olympia Wash. $24,000,000
11/21/2008 Associated Banc-Corp Green Bay Wis. $525,000,000
12/5/2008 Superior Bancorp Inc. Birmingham Ala. $69,000,000
12/5/2008 Manhattan Bancorp El Segundo Calif. $1,700,000
12/5/2008 East West Bancorp Pasadena Calif. $306,546,000
12/5/2008 Cathay General Bancorp Los Angeles Calif. $258,000,000
12/5/2008 CVB Financial Corp Ontario Calif. $130,000,000
12/5/2008 Bank of Marin Bancorp Novato Calif. $28,000,0002
12/5/2008 Oak Valley Bancorp Oakdale Calif. $13,500,000
12/5/2008 Coastal Banking Company, Inc. Fernandina Beach Fla. $9,950,000
12/5/2008 TIB Financial Corp Naples Fla. $37,000,000
12/5/2008 FPB Bancorp, Inc. Port St. Lucie Fla. $5,800,000
12/5/2008 United Community Banks, Inc. Blairsville Ga. $180,000,000
12/5/2008 MB Financial Inc. Chicago Ill. $196,000,000
12/5/2008 First Midwest Bancorp, Inc. Itasca Ill. $193,000,000
12/5/2008 Old National Bancorp Evansville Ind. $100,000,0002
12/5/2008 Blue Valley Ban Corp Overland Park Kan. $21,750,000
12/5/2008 Iberiabank Corporation Lafayette La. $90,000,0002
12/5/2008 Central Bancorp, Inc. Somerville Mass. $10,000,000
12/5/2008 Eagle Bancorp, Inc. Bethesda Md. $38,235,000
12/5/2008 Sandy Spring Bancorp, Inc. Olney Md. $83,094,000
12/5/2008 Old Line Bancshares, Inc. Bowie Md. $7,000,000
12/5/2008 Great Southern Bancorp Springfield Mo. $58,000,000
12/5/2008 Southern Missouri Bancorp, Inc. Poplar Bluff Mo. $9,550,000
12/5/2008 Southern Community Financial Corp. Winston-Salem N.C. $42,750,000
12/5/2008 Bank of North Carolina Thomasville N.C. $31,260,000
12/5/2008 Unity Bancorp, Inc. Clinton N.J. $20,649,000
12/5/2008 State Bancorp, Inc. Jericho N.Y. $36,842,000
12/5/2008 First Defiance Financial Corp. Defiance Ohio $37,000,000
12/5/2008 Central Federal Corporation Fairlawn Ohio $7,225,000
12/5/2008 Southwest Bancorp, Inc. Stillwater Okla. $70,000,000
12/5/2008 Popular, Inc. San Juan Puerto Rico $935,000,000
12/5/2008 South Financial Group, Inc. Greenville S.C. $347,000,000
12/5/2008 First Financial Holdings Inc. Charleston S.C. $65,000,000
12/5/2008 Encore Bancshares Inc. Houston Texas $34,000,000
12/5/2008 Wesbanco Bank Inc. Wheeling W.Va. $75,000,000
12/5/2008 Sterling Financial Corporation Spokane Wash. $303,000,000
12/12/2008 Bank Of the Ozarks Inc. Little Rock Ariz. $75,000,000
12/12/2008 SVB Financial Group Santa Clara Calif. $235,000,000
12/12/2008 Center Financial Corp. Los Angeles Calif. $55,000,000
12/12/2008 Wilshire Bancorp Inc. Los Angeles Calif. $62,158,000
12/12/2008 First Litchfield Financial Corp. Litchfield Conn. $10,000,000
12/12/2008 Wilmington Trust Corp. Wilmington Del. $330,000,000
12/12/2008 The Bancorp Inc. Wilmington Del. $45,220,000
12/12/2008 Indiana Community Bancorp Columbus Ind. $21,500,000
12/12/2008 HopFed Bancorp Hopkinsville Ky. $18,400,000
12/12/2008 LSB Corp. Andover Mass. $15,000,000
12/12/2008 Northeast Bancorp Lewiston Maine $4,227,000
12/12/2008 Citizens Republic Bancorp Inc. Flint Mich. $300,000,000
12/12/2008 Independent Bank Corp. Ionia Mich. $72,000,000
12/12/2008 Capital Bank Corp. Raliegh N.C. $41,279,000
12/12/2008 NewBridge Bancorp Greensboro N.C. $52,372,000
12/12/2008 Citizens South Banking Corp. Gastonia N.C. $20,500,000
12/12/2008 Signature Bank New York N.Y. $120,000,0002
12/12/2008 LNB Bancorp Inc. Lorain Ohio $25,223,000
12/12/2008 Susquehanna Bancshares Inc. Lititz Pa. $300,000,000
12/12/2008 National Penn Bancshares Inc. Boyertown Pa. $150,000,000
12/12/2008 Fidelity Bancorp Inc. Pittsburgh Pa. $7,000,000
12/12/2008 Pinnacle Financial Partners Inc. Nashville Tenn. $95,000,000
12/12/2008 Sterling Bancshares Inc.3 Houston Texas $125,198,000
12/12/2008 TowneBank Portsmouth Va. $76,458,000
12/12/2008 Valley Financial Corp. Roanoke Va. $16,019,000
12/12/2008 Virginia Commerce Bancorp Arlington Va. $71,000,000
12/12/2008 Pacific International Bancorp Seattle Wash. $6,500,000
12/19/2008 BancTrust Financial Group, Inc. Mobile Ala. $50,000,000
12/19/2008 Community West Bancshares Goleta Calif. $15,600,000
12/19/2008 Summit State Bank Santa Rosa Calif. $8,500,000
12/19/2008 Santa Lucia Bancorp Atascadero Calif. $4,000,000
12/19/2008 First California Financial Group, Inc Westlake Village Calif. $25,000,000
12/19/2008 Pacific City Finacial Corporation Los Angeles Calif. $16,200,000
12/19/2008 Exchange Bank Santa Rosa Calif. $43,000,000
12/19/2008 NCAL Bancorp Los Angeles Calif. $10,000,000
12/19/2008 CoBiz Financial Inc. Denver Colo. $64,450,000
12/19/2008 The Connecticut Bank and Trust Company Hartford Conn. $5,448,000
12/19/2008 Seacoast Banking Corporation of Florida Stuart Fla. $50,000,000
12/19/2008 Synovus Financial Corp. Columbus Ga. $967,870,000
12/19/2008 Fidelity Southern Corporation Atlanta Ga. $48,200,000
12/19/2008 Heartland Financial USA, Inc. Dubuque Iowa $81,698,000
12/19/2008 Intermountain Community Bancorp Sandpoint Idaho $27,000,000
12/19/2008 Wintrust Financial Corporation Lake Forest Ill. $250,000,000
12/19/2008 Marquette National Corporation Chicago Ill. $35,500,000
12/19/2008 Bridgeview Bancorp, Inc. Bridgeview Ill. $38,000,000
12/19/2008 Horizon Bancorp Michigan City Ind. $25,000,000
12/19/2008 FFW Corporation Wabash Ind. $7,289,000
12/19/2008 Fidelity Financial Corporation Wichita Kan. $36,282,000
12/19/2008 Citizens First Corporation Bowling Green Ky. $8,779,000
12/19/2008 FCB Bancorp, Inc. Louisville Ky. $9,294,000
12/19/2008 Whitney Holding Corporation New Orleans La. $300,000,000
12/19/2008 Wainwright Bank & Trust Company Boston Mass. $22,000,000
12/19/2008 Berkshire Hills Bancorp, Inc. Pittsfield Mass. $40,000,000
12/19/2008 OneUnited Bank Boston Mass. $12,063,000
12/19/2008 Tri-County Financial Corporation Waldorf Md. $15,540,000
12/19/2008 Patapsco Bancorp, Inc. Dundalk Md. $6,000,000
12/19/2008 Enterprise Financial Services Corp. St. Louis Mo. $35,000,000
12/19/2008 Hawthorn Bancshares, Inc. Lee's Summit Mo. $30,255,000
12/19/2008 Monadnock Bancorp, Inc. Peterborough N.H. $1,834,000
12/19/2008 Flushing Financial Corporation Lake Success N.Y. $70,000,000
12/19/2008 The Elmira Savings Bank, FSB Elmira N.Y. $9,090,000
12/19/2008 Alliance Financial Corporation Syracuse N.Y. $26,918,000
12/19/2008 Mid Penn Bancorp, Inc. Millersburg Pa. $10,000,000
12/19/2008 VIST Financial Corp. Wyomissing Pa. $25,000,000
12/19/2008 AmeriServ Financial, Inc Johnstown Pa. $21,000,000
12/19/2008 Bancorp Rhode Island, Inc. Providence R.I. $30,000,000
12/19/2008 Security Federal Corporation Aiken S.C. $18,000,000
12/19/2008 Tidelands Bancshares, Inc Mt. Pleasant S.C. $14,448,000
12/19/2008 Tennessee Commerce Bancorp, Inc. Franklin Tenn. $30,000,000
12/19/2008 Plains Capital Corporation Dallas Texas $87,631,000
12/19/2008 Patriot Bancshares, Inc. Houston Texas $26,038,000
12/19/2008 Community Bankers Trust Corporation Glen Allen Va. $17,680,000
12/19/2008 Community Financial Corporation Staunton Va. $12,643,000
Enjoy socialism! It's already here..."Whether you like it or not..."
But, now it is time to get back to work because your portion of the federal deficit is $35,000! Wait until 2012 -- you're portion doubles to $70,000 by then.
The fed is going to expect you, the taxpayer, to come up with your share. Well, that is unless you're not one of those idiots out there like me, working so you can give away a total of 50% of your income in income taxes, and sales taxes, and car taxes, and gas taxes, and phone taxes, and pretty soon, I am sure, breathing taxes.
Don't worry, though, that $70,000 figure is based on numbers that are completely skewed and inaccurate that were contrived to undersell you on how much your portion really is, so chances are, you're probably into the fed's debt for much more than $70,000 by 2012.
While you're stewing on the fact that 50% of all that you earn, on average, America, goes to some form of tax (research it, keep track when you pay your bills and buy gas, and you're gonna be surprised), here is a list of all of the banks that got your money and are now going to be sticking it to you with higher interest rates on any debt that you have with them because America has not given them enough already:
10/28/2008 Wells Fargo & Co. San Francisco Calif. $25,000,000,000
10/28/2008 State Street Corp. Boston Mass. $2,000,000,000
10/28/2008 Bank of America Corp.1 Charlotte N.C. $15,000,000,000
10/28/2008 JPMorgan Chase & Co. New York N.Y. $25,000,000,000
10/28/2008 Citigroup Inc. New York N.Y. $25,000,000,000
10/28/2008 Morgan Stanley New York N.Y. $10,000,000,000
10/28/2008 Goldman Sachs Group Inc. New York N.Y. $10,000,000,000
10/28/2008 Bank of New York Mellon Corp. New York N.Y. $3,000,000,000
11/17/2008 Regions Financial Corp. Birmingham Ala. $3,500,000,000
11/17/2008 UCBH Holdings Inc. San Francisco Calif. $298,737,000
11/17/2008 Bank of Commerce Holdings Redding Calif. $17,000,000
11/17/2008 Broadway Financial Corp. Los Angeles Calif. $9,000,000
11/17/2008 SunTrust Banks Inc. Atlanta Ga. $3,500,000,000
11/17/2008 Northern Trust Corp. Chicago Ill. $1,576,000,000
11/17/2008 Provident Bancshares Corp. Baltimore Md. $151,500,000
11/17/2008 U.S. Bancorp Minneapolis Minn. $6,599,000,000
11/17/2008 TCF Financial Corp.2 Wayzata Minn. $361,172,000
11/17/2008 BB&T Corp. Winston-Salem N.C. $3,133,640,000
11/17/2008 1st FS Corp. Hendersonville N.C. $16,369,000
11/17/2008 Valley National Bancorp Wayne N.J. $300,000,000
11/17/2008 KeyCorp Cleveland Ohio $2,500,000,000
11/17/2008 Huntington Bancshares Columbus Ohio $1,398,071,000
11/17/2008 Umpqua Holdings Corp. Portland Ore. $214,181,000
11/17/2008 First Horizon National Corp. Memphis Tenn. $866,540,000
11/17/2008 Comerica Inc. Dallas Texas $2,250,000,000
11/17/2008 Zions Bancorporation Salt Lake City Utah $1,400,000,000
11/17/2008 Capital One Financial Corp. McLean Va. $3,555,199,000
11/17/2008 Washington Federal Inc. Seattle Wash. $200,000,000
11/17/2008 Marshall & Ilsley Corp. Milwaukee Wis. $1,715,000,000
11/21/2008 City National Corporation Beverly Hills Calif. $400,000,000
11/21/2008 Pacific Capital Bancorp Santa Barbara Calif. $180,634,000
11/21/2008 Heritage Commerce Corp. San Jose Calif. $40,000,000
11/21/2008 First PacTrust Bancorp, Inc. Chula Vista Calif. $19,300,000
11/21/2008 Nara Bancorp, Inc. Los Angeles Calif. $67,000,000
11/21/2008 Webster Financial Corporation Waterbury Conn. $400,000,000
11/21/2008 Centerstate Banks of Florida Inc. Davenport Fla. $27,875,000
11/21/2008 Ameris Bancorp Moultrie Ga. $52,000,000
11/21/2008 Taylor Capital Group Rosemont Ill. $104,823,000
11/21/2008 Porter Bancorp Inc. Louisville Ky. $35,000,000
11/21/2008 Boston Private Financial Holdings, Inc. Boston Mass. $154,000,000
11/21/2008 Severn Bancorp, Inc. Annapolis Md. $23,393,000
11/21/2008 Trustmark Corporation Jackson Miss. $215,000,000
11/21/2008 First Niagara Financial Group Lockport N.Y. $184,011,000
11/21/2008 Western Alliance Bancorporation Las Vegas Nev. $140,000,000
11/21/2008 First Community Corporation Lexington S.C. $11,350,000
11/21/2008 HF Financial Corp. Sioux Falls S.D. $25,000,000
11/21/2008 First Community Bankshares Inc. Bluefield Va. $41,500,000
11/21/2008 Banner Corporation Walla Walla Wash. $124,000,000
11/21/2008 Cascade Financial Corporation Everett Wash. $38,970,000
11/21/2008 Columbia Banking System, Inc. Tacoma Wash. $76,898,000
11/21/2008 Heritage Financial Corporation Olympia Wash. $24,000,000
11/21/2008 Associated Banc-Corp Green Bay Wis. $525,000,000
12/5/2008 Superior Bancorp Inc. Birmingham Ala. $69,000,000
12/5/2008 Manhattan Bancorp El Segundo Calif. $1,700,000
12/5/2008 East West Bancorp Pasadena Calif. $306,546,000
12/5/2008 Cathay General Bancorp Los Angeles Calif. $258,000,000
12/5/2008 CVB Financial Corp Ontario Calif. $130,000,000
12/5/2008 Bank of Marin Bancorp Novato Calif. $28,000,0002
12/5/2008 Oak Valley Bancorp Oakdale Calif. $13,500,000
12/5/2008 Coastal Banking Company, Inc. Fernandina Beach Fla. $9,950,000
12/5/2008 TIB Financial Corp Naples Fla. $37,000,000
12/5/2008 FPB Bancorp, Inc. Port St. Lucie Fla. $5,800,000
12/5/2008 United Community Banks, Inc. Blairsville Ga. $180,000,000
12/5/2008 MB Financial Inc. Chicago Ill. $196,000,000
12/5/2008 First Midwest Bancorp, Inc. Itasca Ill. $193,000,000
12/5/2008 Old National Bancorp Evansville Ind. $100,000,0002
12/5/2008 Blue Valley Ban Corp Overland Park Kan. $21,750,000
12/5/2008 Iberiabank Corporation Lafayette La. $90,000,0002
12/5/2008 Central Bancorp, Inc. Somerville Mass. $10,000,000
12/5/2008 Eagle Bancorp, Inc. Bethesda Md. $38,235,000
12/5/2008 Sandy Spring Bancorp, Inc. Olney Md. $83,094,000
12/5/2008 Old Line Bancshares, Inc. Bowie Md. $7,000,000
12/5/2008 Great Southern Bancorp Springfield Mo. $58,000,000
12/5/2008 Southern Missouri Bancorp, Inc. Poplar Bluff Mo. $9,550,000
12/5/2008 Southern Community Financial Corp. Winston-Salem N.C. $42,750,000
12/5/2008 Bank of North Carolina Thomasville N.C. $31,260,000
12/5/2008 Unity Bancorp, Inc. Clinton N.J. $20,649,000
12/5/2008 State Bancorp, Inc. Jericho N.Y. $36,842,000
12/5/2008 First Defiance Financial Corp. Defiance Ohio $37,000,000
12/5/2008 Central Federal Corporation Fairlawn Ohio $7,225,000
12/5/2008 Southwest Bancorp, Inc. Stillwater Okla. $70,000,000
12/5/2008 Popular, Inc. San Juan Puerto Rico $935,000,000
12/5/2008 South Financial Group, Inc. Greenville S.C. $347,000,000
12/5/2008 First Financial Holdings Inc. Charleston S.C. $65,000,000
12/5/2008 Encore Bancshares Inc. Houston Texas $34,000,000
12/5/2008 Wesbanco Bank Inc. Wheeling W.Va. $75,000,000
12/5/2008 Sterling Financial Corporation Spokane Wash. $303,000,000
12/12/2008 Bank Of the Ozarks Inc. Little Rock Ariz. $75,000,000
12/12/2008 SVB Financial Group Santa Clara Calif. $235,000,000
12/12/2008 Center Financial Corp. Los Angeles Calif. $55,000,000
12/12/2008 Wilshire Bancorp Inc. Los Angeles Calif. $62,158,000
12/12/2008 First Litchfield Financial Corp. Litchfield Conn. $10,000,000
12/12/2008 Wilmington Trust Corp. Wilmington Del. $330,000,000
12/12/2008 The Bancorp Inc. Wilmington Del. $45,220,000
12/12/2008 Indiana Community Bancorp Columbus Ind. $21,500,000
12/12/2008 HopFed Bancorp Hopkinsville Ky. $18,400,000
12/12/2008 LSB Corp. Andover Mass. $15,000,000
12/12/2008 Northeast Bancorp Lewiston Maine $4,227,000
12/12/2008 Citizens Republic Bancorp Inc. Flint Mich. $300,000,000
12/12/2008 Independent Bank Corp. Ionia Mich. $72,000,000
12/12/2008 Capital Bank Corp. Raliegh N.C. $41,279,000
12/12/2008 NewBridge Bancorp Greensboro N.C. $52,372,000
12/12/2008 Citizens South Banking Corp. Gastonia N.C. $20,500,000
12/12/2008 Signature Bank New York N.Y. $120,000,0002
12/12/2008 LNB Bancorp Inc. Lorain Ohio $25,223,000
12/12/2008 Susquehanna Bancshares Inc. Lititz Pa. $300,000,000
12/12/2008 National Penn Bancshares Inc. Boyertown Pa. $150,000,000
12/12/2008 Fidelity Bancorp Inc. Pittsburgh Pa. $7,000,000
12/12/2008 Pinnacle Financial Partners Inc. Nashville Tenn. $95,000,000
12/12/2008 Sterling Bancshares Inc.3 Houston Texas $125,198,000
12/12/2008 TowneBank Portsmouth Va. $76,458,000
12/12/2008 Valley Financial Corp. Roanoke Va. $16,019,000
12/12/2008 Virginia Commerce Bancorp Arlington Va. $71,000,000
12/12/2008 Pacific International Bancorp Seattle Wash. $6,500,000
12/19/2008 BancTrust Financial Group, Inc. Mobile Ala. $50,000,000
12/19/2008 Community West Bancshares Goleta Calif. $15,600,000
12/19/2008 Summit State Bank Santa Rosa Calif. $8,500,000
12/19/2008 Santa Lucia Bancorp Atascadero Calif. $4,000,000
12/19/2008 First California Financial Group, Inc Westlake Village Calif. $25,000,000
12/19/2008 Pacific City Finacial Corporation Los Angeles Calif. $16,200,000
12/19/2008 Exchange Bank Santa Rosa Calif. $43,000,000
12/19/2008 NCAL Bancorp Los Angeles Calif. $10,000,000
12/19/2008 CoBiz Financial Inc. Denver Colo. $64,450,000
12/19/2008 The Connecticut Bank and Trust Company Hartford Conn. $5,448,000
12/19/2008 Seacoast Banking Corporation of Florida Stuart Fla. $50,000,000
12/19/2008 Synovus Financial Corp. Columbus Ga. $967,870,000
12/19/2008 Fidelity Southern Corporation Atlanta Ga. $48,200,000
12/19/2008 Heartland Financial USA, Inc. Dubuque Iowa $81,698,000
12/19/2008 Intermountain Community Bancorp Sandpoint Idaho $27,000,000
12/19/2008 Wintrust Financial Corporation Lake Forest Ill. $250,000,000
12/19/2008 Marquette National Corporation Chicago Ill. $35,500,000
12/19/2008 Bridgeview Bancorp, Inc. Bridgeview Ill. $38,000,000
12/19/2008 Horizon Bancorp Michigan City Ind. $25,000,000
12/19/2008 FFW Corporation Wabash Ind. $7,289,000
12/19/2008 Fidelity Financial Corporation Wichita Kan. $36,282,000
12/19/2008 Citizens First Corporation Bowling Green Ky. $8,779,000
12/19/2008 FCB Bancorp, Inc. Louisville Ky. $9,294,000
12/19/2008 Whitney Holding Corporation New Orleans La. $300,000,000
12/19/2008 Wainwright Bank & Trust Company Boston Mass. $22,000,000
12/19/2008 Berkshire Hills Bancorp, Inc. Pittsfield Mass. $40,000,000
12/19/2008 OneUnited Bank Boston Mass. $12,063,000
12/19/2008 Tri-County Financial Corporation Waldorf Md. $15,540,000
12/19/2008 Patapsco Bancorp, Inc. Dundalk Md. $6,000,000
12/19/2008 Enterprise Financial Services Corp. St. Louis Mo. $35,000,000
12/19/2008 Hawthorn Bancshares, Inc. Lee's Summit Mo. $30,255,000
12/19/2008 Monadnock Bancorp, Inc. Peterborough N.H. $1,834,000
12/19/2008 Flushing Financial Corporation Lake Success N.Y. $70,000,000
12/19/2008 The Elmira Savings Bank, FSB Elmira N.Y. $9,090,000
12/19/2008 Alliance Financial Corporation Syracuse N.Y. $26,918,000
12/19/2008 Mid Penn Bancorp, Inc. Millersburg Pa. $10,000,000
12/19/2008 VIST Financial Corp. Wyomissing Pa. $25,000,000
12/19/2008 AmeriServ Financial, Inc Johnstown Pa. $21,000,000
12/19/2008 Bancorp Rhode Island, Inc. Providence R.I. $30,000,000
12/19/2008 Security Federal Corporation Aiken S.C. $18,000,000
12/19/2008 Tidelands Bancshares, Inc Mt. Pleasant S.C. $14,448,000
12/19/2008 Tennessee Commerce Bancorp, Inc. Franklin Tenn. $30,000,000
12/19/2008 Plains Capital Corporation Dallas Texas $87,631,000
12/19/2008 Patriot Bancshares, Inc. Houston Texas $26,038,000
12/19/2008 Community Bankers Trust Corporation Glen Allen Va. $17,680,000
12/19/2008 Community Financial Corporation Staunton Va. $12,643,000
Enjoy socialism! It's already here..."Whether you like it or not..."
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