For Which It Stands

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No need to worry about the Bailouts and Stimulus Packages! Time-line for repayment has been calculated!
By: Thomas McEntire  2,11,2009

      First let me bore you with some figures and where they came from but don't go away I found some light at the end of the tunnel. First of all, in the House and Senate, a whopping 3 Republican total voted yes to pass this Stimulus Package. I am curious to see how bi-partisan the final vote will be? Ok so this Stimulus Package is only $789 Billion. Pry-or to this we had the TARP(Troubled Asset Relief Program) $700 Billion, the Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged up to $5.7 trillion more, tax cuts enabled in 2008 $168 Billion, which come to a total of $10.2 Trillion not including the other 3 legs of President Obama's stool example to get this economy back on its feet. Who knows how much this will add! Not to mention newly approved Treasury Secretary Timothy Geithner says more money may be needed also. Lets remember our country is in debt so we have to repay this money we are borrowing. So here goes.
    

     To start with lets calculate this out: The Total spent or promised at this moment is $10,189,000,000,000   or $10.189 Trillion
Lets say we want to pay this back at $1 Million Dollars per minute. We 1st have to divide by $1 Million
.
$10,189,000,000,000 / $1,000,000 = 10,189,000 minutes.
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Now lets divide by 60 minutes to see how many hours.
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10,189,000 / 60 = 169,816.6666666666 hours.
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Now lets divide by 24 hours to see how many days.
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169,816.6666666666 / 24 = 7,075.69444444 days.
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Now dive by 365 to see how many years.
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7,075.6944444 / 365 = 19.38546  years.
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     So really not so bad when you think about it!
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     So lets budget that! $1 Million dollars a minute for 19.4 years to pay this back. If this money would have been used to pay off peoples mortgages which would have saved the banks etc. It would have payed off approximately 90% of the mortgages in the United States. 100% if you exclude homes over $500,000.
     This is all presuming of course we have no natural catastrophes, no terrorist bombings, no more economic problems, and no wars to fight. That reminds me about our unguarded borders with Mexico. Besides the Mexicans that are caught every month crossing our border with Mexico there is also an average of 12 middle easterners per month caught as well. Make of it what you will.

If this makes you feel uneasy you are not alone!

By: Thomas McEntire

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