"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Tuesday, January 5, 2010

GMAC at it again, down another $5 billion

Once again, our government is on top of all fiscal situations and truly has our best interest at the forefront. Last week the U.S. government flushed another $3.8 billion into the family plumbing bowl and Bloomberg just reported that this fine run GMAC financial company is going to post a quarterly loss of $5 billion.

NOTE TO SELF: next time Timmy Geithner references the positive returns we citizens have received from our “no input or representation” TARP investment, ask him for a copy of his contingent liability footnotes that did not make the sound bites.

$16.3 billion of perfectly printed U.S. taxpayer greenbacks are heading to the national sewage treatment plant.

Just in case you are having a challenge with visualizing $16.3 billion, my grandson ran the calculation: 1.1 mile high stack of $1,000 bills. We just wanted to offer our assistance. Please note that this was mighty upstanding of our grandson considering you have stuck he, his cousin and peers with the bill.

You will so be the talk at the bus stop.

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