Will Grigg?s Liberty Minute

March 4, 2009

In the year 2000, the cost of the entire federal budget was $1.8 trillion. This year, according to the Obama administration?s budget, the federal deficit will be almost exactly that amount.

Since last September, when they were effectively given control over the economy, the Federal Reserve and the Treasury Department have taken on at least $7.7 trillion in taxpayer-subsidies financial liabilities, and generated hundreds of billions of dollars in new debt.

This month, yet another federal bank-bailout scheme goes into effect: TALF, a federal loan-generating entity that will put taxpayers on the hook for credit cards, auto loans, small business loans, and other forms of commercial debt that has gone bad.

Once America manufactured products the whole world was eager to buy. Today, thanks to the Federal Reserve, all we seem to manufacture is bad debt ? and devious schemes to make taxpayers pay the bills.

Let us take back the liberty wherewith Christ has made us free.