Wednesday, October 1, 2008
That's more than one trillion dollars of taxpayer liability added in the past 12 months. This does not include the bank handout currently under consideration or future Congressional action on the so-called "financial crisis." It does not include the potential liabilities of the FDIC which the U.S. Treasury may be forced to pay on very soon. Don't be surprised if next year's fiscal deficit exceeds 2 trillion dollars. Will the world really lend us this much money? Can the U.S. dollar survive this onslaught?