Another Half Trillion $'s?

Yesterday, at the conclusion of the G20 Summit, Obama conducted a news conference and, in a speech prior to the actual Q&A, he said:

"Finally, we are protecting those who don't always have a voice at the G-20, but who have suffered greatly in this crisis. And the United States is ready to lead in this endeavor. In the coming days, I intend to work with Congress to provide $448 million in immediate assistance to vulnerable populations — from Africa to Latin America — and to double support for food safety to over $1 billion so that we are giving people the tools they need to lift themselves out of poverty. We will also support the United Nations and World Bank as they coordinate the rapid assistance necessary to prevent humanitarian catastrophe."

(Click Here to see the full text of that news conference)

Given the fact that we are already in hock for trillions of dollars in spending for Obama's stimulus plan and his budget, the first two items, the $448 million in foreign assistance and another 1/2 billion dollars for food safety, just seem like chicken feed. However, Obama's last statement about supporting "the United Nations and the World Bank" is an entirely different issue. It is interesting that he simply glossed over that comment without an exact number attached to it. That's probably because that number could be upwards of another 1/2 trillion dollars in expense for us, the U.S. taxpayers.

During the G20 meeting, the world leaders --- Barack included --- committed $1 trillion dollars to fight the economic decline (See Full Story). That's the "support" to "the United Nations and World Bank" that Barack so casually referred to in the statement above.

Just "who" do you think the major contributor of that $1 trillion in aid will be? Does anyone think that all of the G20 countries will ante up equally? Hell, no! You know damn well that Obama committed the United States to paying the lions share of that tab. We always do. At the very least, it is probably $250 billion. My guess, though, is that it will probably be closer to 1/2 trillion dollars or about half of the whole tab. Any way you shake it, this is just another multi-billion dollar spending commitment by the "One". Another commitment that is over-and-above the trillions of dollars that Barack has already asked for in his stimulus package and his extremely fat-laden 10-year budget.

This guy isn't just another tax-and-spend Democrat...he's a tax-and-bankrupt Democrat!