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Economic Illiteracy / Stupidity – Worst Line From Obama’s Coakley Rally

Ann Althouse dissects the Presidents speech from yesterday. Here is a line said by Obama that interested me.

Now, we’ve recovered most of your money already, but I don’t think “most of your money” is good enough. We want all our money back. We’re going to collect every dime. (Applause.) That’s why I proposed a new fee on the largest financial firms — to pay the American people back for saving their skin.

Then collect every dime. Obviously, the new fee has nothing to do with paying the debt, it’s simply a punitive populist bone to throw to the progressives. And they made these loans, yet didn’t charge interest???? That’s just stupid. That would be the way that the banks pay for the privileged of getting to borrow money.

“Now, we’ve recovered most of your money already, “ …and spent it on other things you also didn’t approve of!!!