It was a masterful speech before an adoring Congress and media and absolutely no one seemed to notice that anyone in America with money was going to be taxed more, any corporation with success was going to pay more taxes, anyone driving a car, truck or bus was going to be taxed more, and about the only people who really won't be taxed more don't pay any taxes to begin with.
The speech was a blend of Harvard business school, Harvard Law School and Harvard Divinity School in which we are told why his agenda is the only door to the future that has the blessing of our Founding Fathers, the Ivy League and God. It was great theater. Congress is great theater. The avalanche of congressional hearings on the "crisis" are great theater. We just had no idea how much we were paying for the tickets to this theater.
There is no doubt we are on the way to pouring $5 trillion into solving the crisis, if not much more. We are already way over $1 trillion and there has been no change in the economic mess. A couple of trillion more may be committed already through Federal Reserve, Treasury, FDIC, Fannie Mae, Freddie Mac and other agency actions. Then there is the $410 billion slush fund bill sneaking through Congress right now. Add to that all the new money that will be needed to pay off the corrupt bank loans, so called "toxic" debt, and the social agenda Obama described covering everything to do with health, energy and education, and we are close to overtaking France and Spain as leader of contemporary socialism.
One truth we should carefully examine. How much of what is happening is the careful, patient and long term strategy of Osama Bin Laden dating back to 9-11 in NYC? He said he would set in motion actions that would bring down our economy. Blowing up the heart of Wall Street in the World Trade Center was certainly a masterful stroke. Maybe the world economic crisis immediately after 9-11 was just the first wave of the long term impact. Bin Laden knew money, he was worth millions, and he knew the vulnerabilities of the American economy. All he had to do was to quietly encourage the proliferation of greed and dishonesty that was already well entrenched in Wall Street and Washington, DC.
Make no mistake, Osama Bin Laden has cost the USA hundreds of billions of dollars in military expenses in Iraq and Afghanistan every year since then and terrorized many other areas around the world. No one has ever reported the real losses to Wall Street and the economy from the 9-11 attack on the World Trade Center. What was really in the vaults of the Twin Towers? Was Bin Laden behind the run up in energy costs? Was he behind the repackaging of mortgages into sub-prime investments? Who knows? The most powerful nation with the best intelligence agencies in history doesn't have a clue what mountain he may be hiding in today, let alone how he survived and what he did the past decade.
Oh yes, as for the cost of the tickets to the theater in our nation's capitol, if we throw $5 trillion at the problem that means every citizen of the USA will pay about $14,200 to cover up the corruption, bank mismanagement and expansion of social services that will all be solved with the largest cash infusion in history. Now, are the theater tickets really that valuable? And how is it 95% of our citizens will get a tax reduction?