Banks failing at double the pace of last year

Anthony G. Martin
Conservative Examiner
6/19/2010

Citing what he believes are clear signs the economy is bouncing back from recession, Vice-President Joe Biden yesterday touted Barack Obama’s ‘stimulus package’ and bailout of Wall Street.

Time for yet another fact-check on the pathological liars of the Obama Administration.

Banks are failing at double the rate of last year.  During 2009, which the government claims was the peak of the recession, the total number of bank failures at this point in the year was 40.  It is already 83 for this year.

Yet the FDIC is running ads on radio stations across the country attempting to scare people away from keeping their savings at home and making the wildly erroneous and reckless assertion that as long as he FDIC insures bank accounts they can never fail, no matter what.

The statement is a bare-faced lie…

…the U.S. is in debt by over 13 TRILLION dollars, and when one adds in unfunded liabilities, that debt is actually 109 trillion.

If the U.S. were to sell every single asset we have–land, homes, businesses, everything, the total value would be roughly 50 trillion.  Thus, we are in debt at the rate of DOUBLE the amount of our entire value.

Martin’s complete article is at the Conservative Examiner.

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