Your share of the debt is about to climb another $1,300.
July 25th, 2008 by Bob BarrYou may have heard or read media reports about actions yesterday in Congress to deal with the housing debt crisis and to bail out two private lenders known as Freddie Mac and Fannie Mae.
The bill passed the House of Representatives and will be taken up in the Senate and once through that pork factory, President Bush has said he will sign it. If I were your President I would veto it so fast, heads would spin.
The bill - and that’s exactly what it is - is a bill you are going to be expected to pay! It’s for an estimated $400,000,000. That is, of course, $400 Million that we don’t have, so more borrowing is ahead. Your share of this expense? About $1,300.
And that’s on top of the more than $31,000 you already owe!
In 2001, the national debt crossed $6 Trillion. Today, it is closing in on $10 Trillion. Our debt is growing faster than at any time in our nation’s history and there is no end in sight.
Yesterday I issued a statement to the media blasting their actions. Today I ask your help in getting out the message that President Bush and Senators Obama and McCain are wrong for bankrupting our future with more and more debt.
First I ask that you forward this email to as many of your friends as possible. The average American doesn’t understand what’s going on. They have a sincere, but misguided, desire to help people less fortunate than themselves at this time of economic crisis. But this bailout only rewards people who made bad decisions and bails out those who profited from them.
Second, please consider a campaign contribution to help fund our daily operations. Your gift of $5 or as much as the legal limit of $2,300 will make a difference.
I thank you for your consideration.
Sincerely,
Bob Barr
P.S. - You may also want to call your U.S. Senators to tell them to vote no on the big-bank bail out. And remember, if I were your President, this bill would be dead on arrival at the White House. Please help me change government. Thanks again.
July 26th, 2008 at 7:47 pm
Well said Mr Barr
The punishment of the fiscally responsible continues with no end in sight. Our government is out of control and acts as if they have an unlimited supply of money.
This bill is just another attack on individual responsibility.
They are taking the most irresponsible American’s by the hand and giving them “victim” status.
It is outrageous and shocking
July 26th, 2008 at 8:17 pm
Like many Americans we purchased a home that we could afford and diligently paid for it. We live within our means and have no credit card debt. If we can’t afford it, we don’t buy it. If we need or want something, we save up for it.
It is hard to believe that because we and many other American families lived and acted responsibly and others did not (living way beyond their means) that we should now be responsible for their debt.
If there were deceptive lenders who practiced fraud, they should be charged with those crimes.
Bob needs to drive this point home about responsible v. irresponsible persons/most of America will understand this - even if our elected representatives don’t.
July 27th, 2008 at 12:22 am
I think you mean $400 billion?
July 27th, 2008 at 12:46 am
true there are responsible and irresponsible people out there but the housing and interest crisis affects every middle class ands drags down the economy and makes this problem - everyones problem except the rich , congress and , the washington elite and the ceo’s and upper management of almost all companies x now a solution has to be addressed by bob barr and the independents as against what both republican and democratic nominees are advocating and pandering to x its 100 days to the election and all you see and hear on tv are obama and mccain x the keith olbermann show was short but did not address the pressing problems x he has to point out the fact that all these problems coming about are the results of too much partisanship and this present administration x the independents have to differentiate their policies and plans for american and the middle class as against what both parties are espousing and this is just a merry go round between republicans and democrats with no benefit to the american middle class who bears the brunt of the ecomomy x come up with solutions to the most pressing problems to benefit the majority of all americans that are affected by this crisis
July 27th, 2008 at 1:11 am
So few people realize enabling connection the federal government extends to the Federal Reserve Bank in promoting the multi trillion dollar debt. Fewer still, what that debt means.
Prior to the United States being ordered by President G.W. Bush to attack Iran following the military assault of Afghanistan. Bush -Cheney -Rice and others petitioned Congress & the Public to endorse a military thrust, overthrow & occupation of Iraq. Why? The Bush rational was to seize WMD or Weapons of Mass Destruction — this cover story, 3 generations of cover stories the Bush family starting with the Union Bank deal with the Nazi’s in WWII, actually held back the real reasons using the pretext of the World Trade Center 9/11 ( analogous to Hitler’s suppression of opposition parties and rights in the reischtag fire intentionally set by Hitler’s people).
What reasons would G.W. Bush’s people have to invade Iraq? Some major reasons are that Iraq dropped using the US dollar and switched to the Euro dollar and the favorite, oil, oil, oil. In terms of proven useable reserves of oil, Iraq made number two on the list. This is why so many wars around the world can be ignored - just not the one that puts gasoline in the car and diesel in the trucks.
To put it plain, Bush put a value on American life, cheap, disposable like a razor but useful to US bankers and oil companies. Problem is it backfired on the economy while the era of Peak Oil means lowered expectations, higher food costs, and the wholesale collapse of many businesses dependent on low fuel costs - “the good ole days.”
Bob Barr offers a return to sanity, of respect for human life and the integrity of the dollar. Not a manipulated agenda of distortion alienating informed Americans from the truth, such as HR-1911 — passed, where a cogent argument (see the term “force” as described therein) is a felony because it logically presents a position different from the Administration of GW Bush-McCain.
July 27th, 2008 at 1:43 am
Here’s a practical view. You pay income taxes, say you pay 25% (percent) of a hundred dollars or one quarter of the year of your wages. About half or 12.5% goes to the military and 12.5% goes to pay for the debt. As the debt increases, you pay more for gas, food, commodities and life in general. So, you work more but it buys less, over 50 years time the US dollar buys about 5% of what it used to. Bet you didn’t know you worked for a bank.
Its simple, Bush decides, you pay for it.
July 27th, 2008 at 2:27 am
$400 million would be bad enough, but I think the actual figure is much, much higher. The legislation authorizes loan guarantees of up to about $300 billion, although some news sources say financial experts expect only (only!) about $100 billion to be used. I was surprised that the figure in Bob Barr’s column was so far off the mark. The same legislation raises the national debt ceiling to $10.6 trillion, an increase of $800 billion.
July 27th, 2008 at 7:59 am
Good emphasis there on the amount of debt when factored out person by person. Reminds me of the Reform Party in Canada in the early 1990s, a party that never got into power (though they kind of are now as they joined with another conservative party a few years ago and are now governing) but managed to change a lot of fiscal policy in Canada and as a result we’ve had budget surpluses for the past 15 years or so.
http://en.wikipedia.org/wiki/Reform_Party_of_Canada
July 27th, 2008 at 8:26 am
Im 100% with Laurie on this one.
I know people that spend over $50 a week on coffee and are blaming the “economy” for their financial problems.
We MUST stop enabling,encouraging and rewarding irresponsible behavior
July 27th, 2008 at 9:37 am
This sort of Kenysian policy completely defeats the purpose of capitalism. Obviously Fannie Mae and Freddie Mac have lost business. Maybe it is their fault, maybe not, but when people stop buying their products or they make a poor business decision they should take responsibility for it.
And any other smaller business should have the opportunity to capitalize on it. Notice that these sort of government bail outs are only to large conglomerates, the biggest corporations in the country? Rarely are they given to smaller corporations or smaller businesses.
Socialists are always blathering about how big evil Wal-Mart keeps beating up the little Ma and Pa stores because they can’t compete. THEY CAN! They just can’t when those SAME socialists are handing out money to the big corporations and raising minimum wage, the extra wage Wal-Mart can pay with ease but the small one store businesses stand little chance of.
I can’t help but wonder how much health insurance companies are paying some of these democrats (and Mr. Romney when he was governor of his state) to socialize health care by subsidizing them. I can’t help but wonder how much some of these Republican’s have gotten of a cut from military contractors and large oil companies to continue their policies. Washington is just one big ball of corruption at this point…
July 27th, 2008 at 2:29 pm
MCain only talks about ending earmarks and porkbarrel. That is only 50 billion a year. A 3.2 trillion dollar budget for 2008 will not be balanced by cutting 50 billion.
Obama wants to increase the size and scope of govt like we have never seen before.
Bob Barr has to be a part of the national discussion this election cycle. We need to get him into the debates.
July 27th, 2008 at 5:04 pm
There’s a typo in this article.
unfortunately, it should be $400 BILLION not $400 Million.
July 27th, 2008 at 7:11 pm
THIS MADE FRONT PAGE OF DIGG.
http://digg.com/2008_us_elections/Bob_Barr_Freddie_Mac_Fannie_Mae_bailout_added_to_U_S_debt
July 27th, 2008 at 7:20 pm
Welcome Diggers!
July 27th, 2008 at 7:23 pm
LOL, Great, further in debt I go. Thank you Dictator Bush.
JT
http://www.FireMe.To/udi
July 27th, 2008 at 8:23 pm
TJ: you do such a good job alerting us to articles to digg. There were 453 for the article you just listed! Thank you!
July 27th, 2008 at 9:21 pm
wow. I’m thinking about starting to live off the system. at this rate. its better to not be responsible at all. its beneficial to make bad decisions, because of the buge size of government, I’ll just wait for a program to provide for me instead of trying to make it on my own, save for my own future, create more revenue streams for myself. if we keep electing GWB’s and McCain’s and Obama’s, that will be the way to go. My hope is that people continue to be fed up with these terrible leaders and actually make a difference.
July 28th, 2008 at 12:41 am
I agree with TJ, Bob Barr needs to be more in the public eye. I’d bet he could win the election if more Americans were alerted to the fact that they don’t have to pick between two evils, that there is in fact a canidate who will defend our constitutional rights.
July 28th, 2008 at 12:57 am
GOD BLESS BOB BARR!!
July 28th, 2008 at 4:43 am
Rachel, you are right. As more Americans become aware of Bob and what he stands for, they begin to realize they really do have a choice.
We need to keep working on getting Bob’s message (and really, our message) out and finding new supporters and new donors. Time is short - less than a hundred days to the election now - and remember absentee ballots will be filled out even earlier.
(TJ: that last article you brought to our attention has 754 diggs - now that’s interest!). And a theme that resonates with the public!
July 28th, 2008 at 4:00 pm
When I got home this afternoon I saw Russ Verney’s letter about the campaign’s financial needs. We need to ask every supporter to donate now and we need to expand the supporter and donor base now. Each one of us must know one or more persons we can call tonight and ask to support Bob, including financially.
I’m also asking the campaign to tell us now what other ways we can help with fund raising.
July 28th, 2008 at 8:06 pm
Dear, Russ Verney, Bob Barr and Staff
I first want to thank you for helping with the Bob Barr campaign. Bob Barr is our only voice, but his supporters are getting low on cash. Many of us, as myself, where for Ron Paul and donated money to him. We are still standing strong in our values but we are low on are own funds. I have already donated $150 to Ron Paul in the past and about $175 to Bob Barr, but I can not donate at this time. I continue to spread his message and call up people like Glenn Beck on the radio, as do many other supporters. We just need a push from YOU and the Libertarian Party, what we the supporters want is some show of movement. We hear about ballot access all the time and the money tou need for it, but we never see it change. We whant a map of the USA and color in the states that we know we already have! I know the LP has one but, it has been at 31 for about 2 months now.
Its like a fire. We will keep feeding the flame till the flame dones not heat us.
I want to also ask if we could get Ross Perot, Glenn Beck, or Ron Paul to donate or endorse Bob Barr? If we got any of those names we would jump up any were from 4% to 10% in the poll, in one day.
Thank you, Nicholas
July 29th, 2008 at 1:03 pm
I agree with Nicholas. Bob needs to ask Ron Paul for his endorsment. We’d easily jump to 10% within a week. Once that gets us into the debates, we’d be at 15-20% after the debates, once thoughtful voters see Obama’s waffling on Iraq and McCain’s waffliing on taxes.
Bob also needs to ask Mike Gravel for his endorsment, if he doesn’t have it already. Gravel, though a minor player in the Democratic Primary, could give us a point or so from his voters…few but true. We MUST have support from both sides of the traditional conservative-liberal dichotomy. Libertarian policy can make sense to both schools of thought.
Other great endorsments would be Ross Perot, as Nicholas said, and Jesse Ventura. Bob has a real chance of getting these endorsements, but we MUST make a play for them. We have to make our case and ask for them, unlike the major two parties who can just wait for the rubber-stamp expected endorsements.
For Liberty, John
July 30th, 2008 at 2:59 am
I am was Gravel surporter like John Honey talked about above and I’ll give Barr my complete surport if he only says he surports The National Initiative for Democracy (www.ni4d.us). Nader does and former green party canidate Jesse Johnson does.
The NI4D will change the face of democracy and freedom here in the United States.