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Looking for Someone to Blame

March 19, 2009
Alan Caruba
3/19/2009

Barney Frank makes me want to puke.

I would like to blame the entire financial meltdown on him, but unfortunately there are plenty of others in Congress on whom the blame must fall. In the case of AIG, TARP, Fannie Mae, Freddie Mac, and all the other assaults on every dollar any one of us plus our children will earn, the blame must fall on Congress. Not just this Congress, but those stretching back to the late 1960s and earlier.

As of March 15, 2009, according to the Congressional Budget Office, the national debt had reached $11 trillion, the largest in U.S. history. The annual Gross Domestic Product, the value of all the goods and services the U.S. sells to the world is estimated to be between $13 and $14 trillion. Do the arithmetic.

Then pause and consider that a vast portion of the annual federal budget is already committed to entitlement programs like Social Security that began in the 1930s as a response to the Great Depression

The story continues …..

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