The $787 billion American Recovery and Reinvestment Act (ARRA) is an extention of the National Debt by $2580 for every man, woman, and child.
Of that, President Obama claims $288 billion is "Tax Relief," or $944 per person. Then, he claims the "Tax Relief" includes $15 billion for infrastructure and science, $61 billion for "protecting the vulnerable," $25 billion for education and training, and $22 billion for "Energy."
So, after all those special tax cut programs are removed, that leaves $165 billion of more general "Tax Relief," for all of us not in those categories, or $540 per person. So, you are going into debt for investing $2580 for $540 in tax relief.
A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from profit.
Is the ARRA any less of a Ponzi Scheme when the Federal Government does this than when Charles Ponzi or Bernard Madoff does this? Does it matter whether Nicolas Cosmo, Allen Stanford, or Barack Obama does this?
If you want to comment on ARRA, Write the Whitehouse Here.
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Republican Leaders in the Senate & House
Senator/ Republican Leader Mitch McConnell's official YouTube channel http://mcconnell.senate.gov The official YouTube channel of Senate Republican Leader Mitch McConnell http://mcconnell.senate.gov/ http://www.youtube.com/user/RepublicanLeader
Senator Jim DeMint's Official YouTube Account Following the November elections in 2006, the senator stood up against big spenders in Congress and stopped over 10,000 wasteful pork projects. Famed Washington journalist Robert Novak called him a "hero."He was recently ranked as the Senate's most conservative member by National Journal and as the No. 1 senator voting for responsible tax and spending policies by the National Taxpayers Union. DeMint understands the greatness of a country is found in its people and values, not in its government http://www.youtube.com/user/SenJimDeMint
Republican Leader of the House, John Boehner House Republican Leader and a staunch opponent of pork-barrel politics, John is fighting to eliminate wasteful spending, create jobs, and balance the federal budget without raising taxes. He has challenged Republicans in the 111th Congress to be not just the party of “opposition,” but the party of better solutions to the challenges facing the American people. Under the new House GOP leadership team John leads, House Republicans have formed “solutions groups” to develop principled alternatives on the issues that matter most to American families and small businesses, and launched the GOP State Solutions project, an initiative aimed at bringing reform-minded Republicans at the state and federal levels together to promote common-sense solutions from outside the Beltway.
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