On the bright side, the 700 billion is the American billion, not the British.
One American billion is 1,000,000,000
One British billion is 1,000,000,000,000

The $700 billion cannot rescue the economy simply because the yearly Pentagon give away goes on as is. That's really what was sinking the economy in the first place anyway as it blew up deficit spending by the Federal government. The 'bailout' is actually gasoline on the fire.

Easy solution: draft the entire population. Old, young, male, female - even illegal immigrants. Then everyone can enjoy the benefits of the corporate welfare/warfare United States of Socialist America we have officially become.

Hey, it works for Israel, where national military service is mandatory for men and women over the age of 18.

And, with a 300 million-man military, ain't nobody gonna dare f**k with us as we set to accomplishing our mission of total resource control - er, I mean democracy spreading...

For $700 Billion Dollars, 3.5 million homes could be built at $200 thousand dollars each. This would house 14 million people. So, you see, $700 Billion Dollars is really not all that much when you consider that the population is around 310 million at the moment. Just a drop in the bucket. They'll be back for more. And more. And more. And more. And more.

-- EKATON --

The figure of $700,000,000 is so enormous that, like Creation, it cannot be comprehended. Even at $1.00 a prayer it won't get us out of this mess. A generation of Republican rule, abetted by their aspiring partners in primitive acquisitiveness and autocannibalism, the Democrats, has made the United States into a Kleptocracy, an enormous Flim Flam and Scam. Thievery and swindle are now the principle businesses of this nation that no longer produces anything but the knowledge of how to pull nails out with your teeth so even stuff that's nailed down can now be stolen without the aid of expensive tools. A nation such as this has absolutely no other choice but to ultimately fail because the worthy and well meaning people, the true patriots, who could turn all this around cannot be elected.

The D O L L A R numbers are nearly / m / e / a / n / i / n / g / l / e / s / s /, unless one uses various comparison or analogues to real life.

.
with Half a quadrillion of "_D.e.r.i.v.a.t.i.v.e_☠_F.i.n.a.n.c.i.a.l.s_" being traded in a year ( floating on top of the scum of sub-prime house loans, default swaps, and naked shorting -- which sounds all too pornographic and despicable )

_____ $ 516 _ trillion ___ which are based upon what ( smoke & mirrors ) ?

.

N.O.T.I.C.E. _ that the total of all the world's GNPs, added all together is _o.n.l.y_

____ $ 75 _ trillion ___ which BTW, is ~ 50% related to wicked warmongering profiteering throttling humankind

.

CEOs having obscenely high salaries, fuels CorpoRAPE of America, and complicit corruption of the largest most illegal cartel ever

.
☠____ B A N K S T E R I S M __ = ☠ = __ G A N G S T E R I S M ____☠

.
So of course the leader of this CorpoRAPE _M_A_F_I_A_ has made half a billion in salary ?

This is peanuts compared to what they've planned to still come with the SECOND FOOTFALL
.

____ $ 999.99999999998 billion ( I took out my 2 cents worth ) is only the initial EXTORTION PAYMENT to the KIDNAPERS of our ECONOMY
.

____ T _ I _ M _ E ____ A _ N _ A _ L _ O _ G _ Y _
.

____ 1 million seconds = two weeks

____ 1 billion seconds = 33 years
____ ( most people only life 2 billion or so seconds )

____ 1 trillion seconds = 33,000 year
____ ( the next ice age will have started by then )

____ 1 quadrillion seconds = 33 million years
____ ( enough time for a RE_evolution of intelligent LIFE to occur )

The last point is ☠__o.n.e.r.o.u.s__☠,

if we spent 1 dollar of "derivatives" every second, that would be plenty enough time for nature to evolve cockroaches ( or ants, not bees ) into a replacement intelligent life force on the Earth.

Namaste

i find any of the numbers odd, as a piece of paper promising you a piece of someone elses debt, is really worthless..now if this were gold or silver , that indecently, is the only money that is "real" and "legal" under the constitution, then i could get worried.

have many of you americans even read, let alone understood your cherished constitution?

EKATON is correct, they will be back for more. Just like the Nigerian money transfer scams, they get you hooked on an initial extortion (in this case $700 billion), only to tell you that they need to extort more to close the deal...and more...

While the Nigerian scam costs people thousands or tens of thousands of dollars, the Paulson extortion will cost trillions.

Illusion, all of it is ILLUSION, monopoly, they are CHEATING at a game , a game called cheating.

the illusion is fading and 700, billion trillion zillion magillion will not change it one bit.

Because it is the CONTEXT that is changing, you can't EAT money.

Sioux Rose

MR. CARROLL: With all due respect, watch how fast the scoundrels will spend, lose or steal it... it may take 30 years to count, but it'll be gone in a virtual second. In the US as "wild, wild west show," staring that infamous cowboy-in-chief, the sheriff just gave the theives not only all that was in the local banks, but their own posted reward money. And as the poet put it, "The center cannot hold." Truly, our way of life is coming apart... there are not enough fingers for the dams bursting, enough bandaids to put this genii back in the bottle.

Blackwater says they could probably do it cheaper.

Sioux Rose

MORDECHAI: There are three industries the US excels at: building the war machine and its myriad "toys," producing films that exalt themes of explosive force, and
engineering fiscal pyramid scams that millions enter into before finding out it's too late: either stay in the game, or prepare to lose it all, and for many ALL means just that.

Sioux Rose

ENLIVEN: You're probably the only one in this forum who can begin to wrap his mind around the numbers... I won't even try. The whole scam is so mortifying when you consider its human casualties, the intricacies of their individual cases... the elderly person who was living on $600 a month, now perhaps $450 with all prices (fuel, food, etc) rising around him/her; the couple that worked and paid into a mortgage, only to find the monthly usurous fee gone up... to think the bankers walk away with their golden parachutes and leave citizens in the dust? The US is run by Cheney alright, he is the perfect metaphor for this land that's LOST its heart... it's a mechanical device doing the ticking. We heard Bush called the UNFEELING president. Damn. It's a f--king epidemic! I am disgusted with Obama... aghast at what's going on in this nation in broad daylight. Death and killing are banal, as is theft. There is NO decency, NO accountability, NO integrity and the guarantee on our bank savings is as worthless as our insurance plans. NO ONE (for the most part) is honoring their word... and look what's been put up to qualify as "leaders." It should be a parody on Saturday Night Live, nothing more! And that other nations may be the next targets of this out-of-control realm? I suppose the lords of karma have acted by canceling our credit cards and emptying our treasury. NO money left to wage war... any nation that loans now becomes an accessory to a crime against other people.

In astrology there is a sector on the great wheel of time that relates to hospitals, jails, mental institutions and ashrams. What these places hold in common is the capacity to bring an individual to an all-out stop so that they are forced into a moral reckoning with their own soul. THAT is the state of the US. If you life stillness and can commune with your own company, if you can handle the truth, the reckoning will be less spiritually painful. For many who have hid behind religion, patriotism or their credit cards... some would rather check out than conduct the fearless moral inventory. Note the resonance between that exit and the prevalent belief in END TIMES...

It should not surprise anyone that nature is taking it's course and undoing human overpopulation, resource depletion, environmental pollution and species extinctions.

The high cost of dirty imported non-renewable fuel to power America, is the basis for this nation's economic problems. All else just obscures... and they want it that way.

Inexpensive clean renewable energy changes the entire dynamic.

It eliminates the associated military costs for extricating "our oil under from their sand".

It eliminates the associated homeland security costs for protecting ourselves from those who do not want us extricating "our oil from under their sand".

It allows for reduced manufacturing costs in the US and thus decreases the need to establish global markets to exploit "our cheap laborers on their soil".

It reduces the need to expend disproportionate levels of personal income on energy to supply heat, food and transportation and all other products and services that depend upon energy, thereby freeing up capital to drive the economy in a sustainable manner.

It allows for cheaper and more reliable mass-transportation.

It encourages more diplomacy and less overt aggression.

It allows us to redefine "strategic" interests and thereby bring hundreds of thousands of military personnel and billions of dollars worth of equipment back to the US.

It reduces the number of Americans who are killed on foreign soil.

It reduces the number of residents of foreign countries who are killed by Americans.

It directly addresses pressing environmental concerns, by eliminating much of the spoiling that is necessary to extract, produce, transport, store and protect dirty non-renewable fuels.

It eliminates needs to find solutions for many more radioactive waste sites, when we do not currently even have the capability of constructing just a single one.

It frees trillions of dollars of direct and related expenses that could be pledged towards finding solutions for a healthier and more educated America, perhaps even for providing free education and health care.

It would provide funds to address the decrepit state of the country's infrastructure.

It would be a catalyst to generate millions of new jobs and provide job security for those who are currently employed.

It would provide the incentive to remove 200 *million* gasoline powered autos from our highways.

It would improve the health of millions who are negatively affected directly or indirectly by dirty fuels.

It would eliminate the need to depend upon hostile foreign countries for economic security.

It would provide greater STABILITY for the US and for all countries that form associations with the US.

It would promote real participatory democracy.

We just allowed our "leaders" to piss away $850 billion dollars, and strap that debt to our backs and that of our children and grandchildren... and perhaps longer.

$600 billion powers three quarters of all American households and future electric cars for pennies per month when invested into clean renewable generation.

The remaining $250 billion buys a new national energy distribution and storage system that is more energy efficient and through technology, can distribute more effectively than the one that currently exists.

What did we just buy with that $850 billion?

MUCH MUCH more of the same, designed to drive the American standard of living to a level that is comparable to many second world countries. Homelessness. Joblessness. Inability to compete. Declining health. Decreasing levels of education. Increased crime rates. Loss of esteem both at home and abroad. We are circling the drain into a waste pool of depression.

And more fascism to quell those masses of fellow Americans who will become disaffected and angry.

Are you ready?

would this economy be crashing if Bush & Co had not been reelected? we won't know because the majority flatly refused Ralph Nader 2004.

no one- not even one, at the Nader/Gonzalez Independent candidacy could imagine Nader proposing, & supporting 700b swindle.

no one- not even one raider, could imagine Nader proposing, & supporting current wars.

You don't have to imagine much, where Obama & McCain stand, they both agree & voted (support) 700b swindle, & voted (support) current wars.

Nader/Gonzalez is easy choice, to stop the train loads of money & arms unwisely used.

wild ;)

Perhaps this will put it in perspective. The "Statement of Principles" of the PNAC. Note the date, and the signatures at the bottom.
----------------------------------------------------
Statement of Principles

June 3, 1997

American foreign and defense policy is adrift. Conservatives have criticized the incoherent policies of the Clinton Administration. They have also resisted isolationist impulses from within their own ranks. But conservatives have not confidently advanced a strategic vision of America's role in the world. They have not set forth guiding principles for American foreign policy. They have allowed differences over tactics to obscure potential agreement on strategic objectives. And they have not fought for a defense budget that would maintain American security and advance American interests in the new century.

We aim to change this. We aim to make the case and rally support for American global leadership.

As the 20th century draws to a close, the United States stands as the world's preeminent power. Having led the West to victory in the Cold War, America faces an opportunity and a challenge: Does the United States have the vision to build upon the achievements of past decades? Does the United States have the resolve to shape a new century favorable to American principles and interests?

We are in danger of squandering the opportunity and failing the challenge. We are living off the capital -- both the military investments and the foreign policy achievements -- built up by past administrations. Cuts in foreign affairs and defense spending, inattention to the tools of statecraft, and inconstant leadership are making it increasingly difficult to sustain American influence around the world. And the promise of short-term commercial benefits threatens to override strategic considerations. As a consequence, we are jeopardizing the nation's ability to meet present threats and to deal with potentially greater challenges that lie ahead.

We seem to have forgotten the essential elements of the Reagan Administration's success: a military that is strong and ready to meet both present and future challenges; a foreign policy that boldly and purposefully promotes American principles abroad; and national leadership that accepts the United States' global responsibilities.

Of course, the United States must be prudent in how it exercises its power. But we cannot safely avoid the responsibilities of global leadership or the costs that are associated with its exercise. America has a vital role in maintaining peace and security in Europe, Asia, and the Middle East. If we shirk our responsibilities, we invite challenges to our fundamental interests. The history of the 20th century should have taught us that it is important to shape circumstances before crises emerge, and to meet threats before they become dire. The history of this century should have taught us to embrace the cause of American leadership.

Our aim is to remind Americans of these lessons and to draw their consequences for today. Here are four consequences:

• we need to increase defense spending significantly if we are to carry out our global responsibilities today and modernize our armed forces for the future;

• we need to strengthen our ties to democratic allies and to challenge regimes hostile to our interests and values;

• we need to promote the cause of political and economic freedom abroad;

• we need to accept responsibility for America's unique role in preserving and extending an international order friendly to our security, our prosperity, and our principles.

Such a Reaganite policy of military strength and moral clarity may not be fashionable today. But it is necessary if the United States is to build on the successes of this past century and to ensure our security and our greatness in the next.

Elliott Abrams, Gary Bauer, William J. Bennett, Jeb Bush, Dick Cheney, Eliot A. Cohen, Midge Decter, Paula Dobriansky, Steve Forbes , Aaron Friedberg, Francis Fukuyama, Frank Gaffney, Fred C. Ikle, Donald Kagan, Zalmay Khalilzad, I. Lewis Libby, Norman Podhoretz, Dan Quayle, Peter W. Rodman, Stephen P. Rosen, Henry S. Rowen, Donald Rumsfeld, Vin Weber, George Weigel, Paul Wolfowitz
---------------------------------------------------------
Kinda looks like a "Who's Who" in American Fascism and greed, doesn't it.

As usual James Carroll, you put things in a clear perspective. Many good posts as well.

Not to imply that James Carroll is not aware of this, but the U.S. economy is in desperate need of decent paying jobs that the military defense industry provides. This presents tremendous temptations to wage war, imaginary or not, to sustain the system. The War Against Terrorism is a perfect example of this.

Also, such excessive military power in turn gives support to the hidden powers that be in America who wish to enforce U.S. hegemony all over the world.

American culture is so blinded by the false promises of capitalism and the love of money, power and control, that social change is nearly impossible.

To rid our nation of a materialistic culture that has actually altered human consciousness, the American people will need a total transformation of values.

Maybe the crash of the American Empire will be necessary to bring about such a transformation. It will then be a great lesson to Western civilization.

It all seems like 'funny money' at this point anyway. The Dow fell below 9k today, which tells you that even those gaming the market don't have that much faith in it. It's funny money because it's only numbers applied to assets that were hyperinflated in the first place, meaning they had and have nowhere NEAR the value they were 'sold' at. The scammers were scamming those who were unable to get in and out of the market quickly. Who was that? You guessed it, those of you with 401k accounts that exacted heavy penalties for cashing in before a certain age. Remember the experts telling you what a great deal it was, and how you must invest for your retirement? That was the glue they used to hold you to the market until they figured out a way to steal it from you. What they didn't count on was a catastrophic meltdown which may ultimately make their ill-begotten gains worthless as well! When there was a rage to invest, some thought I was crazy for keeping my money in more liquid but slower growth vehicles. How can you lose, they'd say, when your employer matches your investment? How, indeed!

The thing I am still trying to understand, is that the world is still the same today as it was one year ago. It is people's attitudes that are building the domino effect that is crushing what would otherwise be healthy industrialism, (I am talking about neo-industrialism, the one built on sustainability, and efficiency). On the one hand, many greedy people are losing the power to make a dishonest buck, but on the other hand I think there are so many people overreacting to a the crash of system that has been built around borrowing leverage to build things. We live in a time where we have the knowledge and the capacity to create things our fathers (yes, our fathers) only dreamed of.
I know there are many pessimists who are tired of the system of exploitation, but I think we should now, while the old system sits in shambles, reach forward ourselves and start building our new society, a society of communication, cooperation, sustainability and efficiency. We have the tools, we have the opportunity to show that we can make things happen on Main Street while Wall Street flounders. Open forum, projects suggested, locationwise, map out needs, map out what needs to be done, to make life better for the community, one project at a time, what are we waiting for, do we need to ask permission? Is it not our time?

the money in the military budget as noted is mind numbing but it does not take any of the black budget into account or new generation nukes, space weaponry etc

none of which is needed

you all should read chalmers johnson's blowback trilogy as he eloquently outlines over three books the extent and nature of the american military

simply put, if you are non-white and live in a country with any resources at all, not to mention oil, then these are the boys who are coming to kill you

its an awful state

btw: the appropriation for the wars - who cares which one as there will be more, is allotted on an "as we go" basis - so that number is not complete at all

americans need to ask themselves if they want to continue being the only terrorist nation in the world - or not

its as simple as that

given the poor prosecution of the iraq conflict - i wouldn't think you folks would want to fight a war with a country able to defend itself, such as iran, china or russia

finally, karmically speaking, just how much hatred do you think you can stand

cheers, b

"Barack Obama has no issue with current Defense expenditures"

FALSE

He think that the US military is too small.

OBAMA: "We need to maintain a strategic force posture that allows us to manage threats posed by rogue nations like North Korea and Iran, and to meet the challenges presented by potential rivals like China," he writes. "Indeed, given the depletion of our forces after the wars in Iraq and Afghanistan, we will probably need a somewhat higher budget in the intermediate future just to restore readiness and replace equipment."

From barackobama.com: "Expand to Meet Military Needs on the Ground: Barack Obama and Joe Biden support plans to increase the size of the Army by 65,000 soldiers and the Marines by 27,000 troops. Increasing our end strength will help units retrain and re-equip properly between deployments and decrease the strain on military families."

The new World Order, Globalization, the Sell-out of our industrial base to
China and Mexico has lead us to this major depression and there is no way out.
All this by the Clintons and the Bush family...How come McCain and Obama do not
mention anything about the destruction of our industrial base?
Words like "Free Trade" are simply nonsense, and political machine people who
walk in "Lock-step", and go along to get along are the reasons we are in this mess.
We need leadership that the political machines cannot produce.
Not enough loyal people from the Great Depression alive and active.

Under the ground in Iraq rest $20-50 trillion in oil reserves. That is enough to bailout the crooks on Wall St 40-100 times.

Iran? Another $20-50 trillion. Therefore, enough oil to be ripped off to pay the Pentagon's budget for a century.

Do you wonder why Israel is soooooo important to everyone close to the Pentagon? It aint about God.

Remember when we thought Democrat Jimmy Carter was a disaster for the economy? Republican Bush makes Carter seem like a financial genius in comparison.

Signed: Lawlessone [for more irreverence, see resistence-is-possible.blogspot.com]

Cast your vote based on the current reality:

Obama/Biden, like Bill Clinton, will give the corporate masters 95% of what they want, leaving a at least a few crumbs to toss to the other 95% of the population.

Mc Hoover/Crusading Earmark Queen, like Dubya, will give the corporate masters 110% of what they want, leaving no crumbs.

It is unlikely that more than half of the US electorate will experience an October Epiphany and vote for Nader.

The current reality offers no good choices, just bad and worse choices.

I am just another joe in a six pack world
I am just another pale face bloke
that's just another day older
and broker than broke

So it surprised me to hear the other day
of a Hank down on Wall street who was on his knees
he'd earned a three quarter pack of a billion if you please
selling 'trash for cash' and now he dares to slash the public purse
past a negative ten trillion dollars empty
with a bonus of a trillion dollars worse

The bonus don't even begin to bugger us for worse or better
without the soap or the pope or endulgences on a rope
and the froth keeps getting wetter and wetter
so 'bugger me with a wire brush' if that don't thaw an asset
the bubble barons of blow are cheerin for the bust
and nothin sells triple A like the Al American Anyway
Then there's FAS stuck on a loop
the fundamentals are strong
the fundamentals are strong.....
so are the fundamentalists
no matter which FIRE they are flogging

Better do the upgrade to FFF
flim flam finance strong
and jump on the maverick bus with Johnny six pack
or jump on Zion train with the pale ones biding their time

no need to fuss
soon the greenback won't be worth a continental
and another bigger better bail out bucket
to save us from the crapper will be on it's way
so.....
bend over enjoy the movement
I did...
but I am just another joe six pack
in a joe six pack world

Paying the 700 billion is worth it to eat soup with all of the rich at the soup kitchen.

There's a line of thought that suggests that spending money rescuing financial institutions and bolstering the military keeps "us" safe. But all it does is spell doom for "us." And THEM if they are not careful.

Inequality will be the death of America, not a desperate hijacker from another land with a bomb. When She crumbles, THEY will have nothing left to reign over.

so....let's say you eat in a divey sort of restaurant -- maybe you have some clams and they're not particularly fresh, or maybe just a fish that seemed to be eyeballing you while you ate him (it)

you go home, your stomach rumbles, but you drink some chamomile tea and try to sleep --

about two hours later, you wake up with your head spinning and incredible intestinal activity and discomfort -- what to do, what to do?

well, you could take a bromide, you could have another cup of tea or some other palliative -- you could try eating some dry toast with nothing on it --

these efforts would all be analogous to voting for obama --

a vote for mccranium would be analogous to getting as sick as possible as quickly as possible and getting as much of the drek inside of you as possible into the toilet --

therefore, much as it may seem counter-intuitive, the sensible thing to do is vote for mccain ---

that will give america a decent chance at total implosion and subsequent recovery ---

obama is like taking alka seltzer for food poisoning -- may not make things worse, but will likely prolong the illness rather than rectify it

if you disagree with this, well, i don't blame you --

....but it may be true

“I think anybody who doesn’t think I’m smart enough to handle the job is underestimating.”
[George W. Bush]

SO? Was the SPLURGE successfuL?????

For those having trouble comprehending large numbers, brush up on your scientific notation. I find it very helpful. Else, everything is in "'illions", and they all look the same.

http://en.wikipedia.org/wiki/Order_of_magnitude