Does anyone really understand how much Barack Obama has spent in the first two month of his administration?
I can’t even grasp how much $5.32 Trillion is…..

Now, he is over in Europe at the G20 Summit trying to convince every European nation to spend out of control just as he has done. The Europeans are grumbling, though. Where he was once a rock star, he is now a faded star.

The French President is threatening to walk out of the summit.  More regulation and commitment to the global financial stimulus packages is not winning support from many of the countries.  France, as well as some other European nations, are demanding much tougher financial regulation, while the U.S. and Britain want nations to boost spending to help spark an economic recovery.  French President Nicolas Sarkozy said Monday he will not accept a summit that produces nothing more than what he called “false success.”

Since we have spent ourselves into bankruptcy, I guess misery would love company and so now Obama is trying to push his brilliant spending ideas on the Summit and they are not buying it. Good for them!

Here is a what the Congress and Obama have been doing with all that borrowed money from China:

Company

Amount of $ (Billions/Trillions)
Bear Stearns

$30,000,000,000
Fannie Mae/Freddie Mac

$200,000,000,000
AIG

$85,000,000,000
Auto Industries

$25,000,000,000
Troubled Assets Relief (What is this for?)

$700,000,000,000
AIG II

$65,000,000,000
Citigroup

$247,500,000,000
Stimulus Bill (What is this for?)

$787,000,000,000
Housing Bailout

$200,000,000,000
AIG III

$30,000,000,000
Federal Reserve (Credit Markets)

$2,950,000,000,000

TOTAL $ GIVEN AWAY:

$5,320,000,000,000

The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States and the European Union.

Someone please tell me when this madness is going to end….