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StopBailouts.net launched

Americans For Limited Government announces StopBailouts.net, an online petition in response to President Barack Obama’s $2.8 trillion financial plan to urge Congress to halt what ALG President Bill Wilson termed the “greatest theft in human history.”

“Throughout 2008, and now into 2009, Congress, the Treasury, and the Federal Reserve have otherwise committed, appropriated, borrowed, and printed some $10 trillion for the largest financial bailout ever,” said Wilson.

By Wilson’s count the bailout is “astronomical on an order not yet seen: $2 trillion in FDIC assurances, $1.75 trillion in Federal Reserve commercial paper purchases, $900 billion in term auction facility lending, $600 billion to insure money market funds, $600 billion to cover Fannie and Freddie’s worthless mortgage-backed securities, $550 billion for discount Federal Reserve loans, $500 billion to insure FDIC deposits, $300 billion for FHA mortgage relief, $250 billion for Citigroup debt, $225 billion for securities loan facility lending, $200 billion for Fannie and Freddie’s debt, $112 billion for A.I.G., $700 billion for the TARP, and finally, $787 for ‘stimulus.’”

“And that’s not even counting interest,” Wilson noted.

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12 Comments

  1. James A. Bell February 24, 2009

    I’M MAD AS HELL, AND I’M NOT GOING TO TAKE IT ANYMORE!!

    STOP THE BAILOUTS AND STOP THE MADNESS! RISE UP PEOPLE! COME ON AND LET YOU VOICE BE HEARD!

    If U.S. Auto makers want to be viable – GET RID OF THE UNION!!

    As an Army Veteran, I fought for my country. It’s about time someone in Washington started fighting for me.

  2. Gladys Krehlik February 24, 2009

    No one has ever bailed me out. I learned at a very young age to budget my income and have always lived within my means. Why can’t our government leaders see this workable picture?

  3. Bo Hindall February 24, 2009

    Stop the nincompoopery with the 534 idiots that we, the “idiot” and complacent people voted into office. It is clear that the new socialist order doesn’t have any clue nor any care about our capitalism. Can’t we seccede from the union then President Obama can really pretend he’s Lincolnesque!

  4. Sean Grodner February 24, 2009

    Please stop the bailouts. I do not want my kids and my grandchildren to pay for the mistake of others. The new pay as you go policy, hmmm, where is this bailout money coming from?

  5. Don Wagner February 24, 2009

    “The real and maybe final war is here and now in the United States of America; against your children and children all around the world – even our babies in the womb. ” Herod sent out the first order to kill them. Who is proclaming it today?

  6. bob grady February 24, 2009

    the gov. needs to let the market do its thing.
    but it should consider assuming the morgages that are bad and have the holders pay direct to gov. any equity stays with gov to offset risk to the taxpayers.
    gov. already it with apts so what’s the differance

  7. Charlie Miller February 24, 2009

    One concept the Liberals have never understood: When you raise taxes, the amount of revenue flowing into the Treasury decreases; when you lower taxes, the amount of revenue flowing into the treasury increases. Small business is the key to getting the economy back on track; cut the corporate tax rate and the capital gains tax rate for 24 months, and watch the capatilists do what they do best. The notion that Government alone, via bail outs, can make us whole again is ridiculous, and demonstrates the liberals typical approach of “big government tax and spend.” Brace yourselves: This may only be the tip of the ice berg!

  8. Dan Shaw February 24, 2009

    I ran a retail pharmacy from 1964 to 1993 and nobody bailed me out. It cost me at least $1,200 a month in taxes just to open the door. This didn’t even include income taxes. I never worried about those, because I didn’t have any taxable income.

    With the above taxes people wondered why I didn’t hire more people or provide health care insurance.

    Just stop the printing of worthless paper and stop begging China to buy said worthless paper. I think the Chinese Communists took this country without firing a shot.

    Nuff said?

  9. Lawrence Egna February 27, 2009

    This bailout is the worst disgrace in our history. It will destroy our life and our children and grandchildren for years to come . I was in small business for many years and no one helped me out financially. Why should business’s try to be successful when they know if they screw up they will be bailed out.

  10. charles roth March 5, 2009

    why should we have to bail out the people that bought houses and property that they knew that they could not afford.Stupididy should not be rewarded.

  11. Herbert Newell March 5, 2009

    Obama’s neo marxist policies are bankrupting this nation.Lets take by force what the responsible have produced and give it to the people who never bothered to do their homework is not my idea of a free country.What do you think?

  12. Jerry Johnson March 8, 2009

    I’m so tired of his lies.We still haven’t seen line for line all of what is on that first spending bill that was passed.So much for campaign promises.I’m ready just like the rest of you to stand up and fight for what is ours. I don’t want what they have to offer.I don’t want to pay peoples mortages who lied on their applications.I don’t want to help people who are so ignorant that they can’t tell you the vice presidents name,and voted for Obama just because he’s black.I’m really very mad, and I hope that by adding my name to this list it will help in our fight for our democracy.

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