This article came to my email today and the truth is I am not at all suprised. The CBO is always to low in their cost estimates because it seems they are not at all a non-partisan group. They are more group that does eerything they can to make the president and liberal democrats look good. In the end it always back fires because everything this administration does is leading us to bankruptcy and destruction. If we do not change the course we are on, this nation will be a part of a massive one world government.
(CNSNews.com) – The Congressional Budget Office (CBO) says the real cost of the federal government guaranteeing the business of failed mortgage giants Fannie Mae and Freddie Mac is $317 billion -- not the $130 billion normally claimed by the Obama administration.
In a report delivered to the House Budget Committee on June 2, the CBO said a “fair value” accounting of guaranteeing the two defunct mortgage companies – known as Government Sponsored Enterprises (GSEs) – was more than twice as high as the Office of Management and Budget had accounted for. (For the full story go to CNSNews.com)
We cannot continue to throw money at this problem Keynsian economics have never worked and never will. How many of you think you can improve your personal finances by spending more money?
If you can't then how can the government?
