Pitiful $2.5 Trillion Fraud by House FCINO's
The ludicrous proposal by 165 FCINO (Financially Conservative In Name Only) House members to reduce federal spending by $2.5 trillion over the next ten years is a pitiful attempt to appease mid-term election voters. With government credit card spending (borrowed or printed) conservatively forecast to be $10 trillion over the next ten years the $2.5 trillion in proposed spending cuts over the same period mean that the national debt will only grow (try not to laugh) to $22 trillion instead of $24 trillion. To illustrate what a bold faced fraud this proposal is consider the following example from the real world on Main Street America where people actually have to balance their check books and pay their credit card bills every month: Joe Mainstreet has a credit card with a $5,000 charge limit on it. Joe goes on a credit card spending spree and at the end of the year he has racked up $100,000 in credit card debt. When contacted by the credit card company and threatened with prosecution for credit card fraud he promises to cut his $100,000 yearly credit card spending by $10,000 per year over the next ten years. Joe will thus cut his credit card spending by $100,000 while racking up $900,000 of additional debt ($1,000,000 - $100,000 = $900,000). Wake up America! Demand that the suicidal congressional squandering of your kids and grandkids financial future stop. Demand that your elected representatives balance the federal budget now!
Posted by SamG at 1/22/2011 12:29 PM 
Categories: Hypocrisy, CYA, Squandering; CYA, Debt, Ineptitude, Accountability, Dysfunction, Cultural Corruption; Institutional Corruption
Categories: Hypocrisy, CYA, Squandering; CYA, Debt, Ineptitude, Accountability, Dysfunction, Cultural Corruption; Institutional Corruption
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