Does Anyone feel like Bailing

[TheMercenary]

Nice...

Autoworkers Union Keeps $6 Million Golf Course for Members at $33 Million Lakeside Retreat

http://www.foxnews.com/story/0,2933,472304,00.html

[tw]

From the Washington Post of 3 Jan 2009 is what happens when government does constant economic stimulus; then economics takes revenge:

U.S. Debt Expected To Soar This Year
... the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world's appetite for financing U.S. government spending. ...
But about 40 percent of the debt held by private investors will mature in a year or less, according to Treasury officials. When those loans come due, the Treasury will have to borrow more money to repay them, even as it launches perhaps the most aggressive expansion of U.S. debt in modern history. ...
While the current market for Treasurys is booming, it's unclear whether demand for debt can be sustained, said Lou Crandall, chief economist at Wrightson ICAP, which analyzes Treasury financing trends.

"There's a time bomb in there somewhere," Crandall said, "but we don't know exactly where on the calendar it's planted."

The government's hunger for cash began growing exponentially as the nation slipped into recession in the wake of a housing foreclosure crisis a year ago. ...

As of yesterday, the debt stood at nearly $10.7 trillion, of which about $4.3 trillion is owed to other government institutions, such as the Social Security trust fund.

When the president had intelligence and not a political agenda, then debt was about to be eliminated. Wackos since promoted outright myths to the ignorant such as tax cuts, corporate welfare, and even blames unions. These same anti-Americans also promoted another myth: if it was promoted or created by Clinton, then it must be wrong.

Others say those fears are overblown. The market for U.S. Treasurys is by far the largest and most liquid bond market in the world, and big institutional investors have few other places to safely invest large sums of reserve cash.

Unfortunately, that same reasoning justified mortgage backed securities, CDOs, massive economic government stimulus, corporate welfare, tax cuts, and even "Mission Accomplished". The resulting costs appeared years later, suddenly, and brutally.

In the next few years, we will learn how much damage a mental midget has done to America - as 1968Nixon did to 1970s America. We have yet to see the real costs of wacko extremist conservatism - what happens when the mental midgets get a president they can relate to.

[classicman]

U.S. governors seek $1 trillion federal assistance

The governors of New York, New Jersey, Massachusetts, Ohio and Wisconsin -- all Democrats -- said the initiative for the two-year aid package was backed by other governors and follows a meeting in December where governors called on President-elect Barack Obama to help them maintain services in the face of slumping revenues.

"The Obama team has been very receptive in listening to us," said Gov. Jim Doyle of Wisconsin. He said "quite a number" of other governors back the initiative.

The Republican Governors Association, however, said the level of federal aid being sought would create a burden for the future.

"The proposal by the Democratic governors goes beyond things like 'shovel-ready' infrastructure projects and is essentially a bailout of these states' general funds," Nick Ayers, executive director of the Republican Governors Association, said in a statement. "Now is the time to focus on finding cost-effective ways to provide essential services without burdening future generations with ever greater debt."

Corzine said the money called for represents about 3 percent to 3.5 percent of the economy, equivalent to the amount that the economy is expected to contract by over the next two quarters.

In light of the $700 billion provided to bail out the financial industry, "It's not shockingly large," he said.

We seem top have lost all perspective and reason. All I hear is gimme gimme gimme - just print more money....

I feel ill.

[TheMercenary]

I am considering forming a bank and asking for money.

[HungLikeJesus]

From CNN's Rebecca Sinderbrand and Mark Preston

Larry Flynt is asking for a bailout.



WASHINGTON (CNN) — Another major American industry is asking for assistance as the global financial crisis continues: Hustler publisher Larry Flynt and Girls Gone Wild CEO Joe Francis said Wednesday they will request that Congress allocate $5 billion for a bailout of the adult entertainment industry.

“The take here is that everyone and their mother want to be bailed out from the banks to the big three,” said Owen Moogan, spokesman for Larry Flynt. “The porn industry has been hurt by the downturn like everyone else and they are going to ask for the $5 billion. Is it the most serious thing in the world? Is it going to make the lives of Americans better if it happens? It is not for them to determine.”

Francis said in a statement that “the US government should actively support the adult industry's survival and growth, just as it feels the need to support any other industry cherished by the American people."

“We should be delivering [the request] by the end of today to our congressmen and [Secretary of the Treasury Henry] Paulson asking for this $5 billion dollar bailout,” he told CNN Wednesday.

[richlevy]

Well, it looks like the White House will have to bail out GM now if it wants parts and service for the new presidential limo.

When President-elect Barack Obama pulls up to 1600 Pennsylvania Avenue Jan. 20, he will do so in a new car -- a highly armored, specially designed limousine manufactured in near secrecy by General Motors.

Both GM and the Secret Service are keeping the specs of the car under tight wraps, but according to a spokesman for the car company, the limo is a new and "unique" design that was not simply built atop an existing GM chassis.

Personally, if I had to place my life in the hands of an American company, I don't think GM would make the list. I hope he at least got free roadside assistance.

[lookout123]

Yes, Mr President. It is Tuesday and you do need to travel through the city. Well the problem is Mr Wagoner says he won't reactivate our keys until he get another $25,000,000,000. Yes sir, he did cackle when he said it.

[TheMercenary]

Print More Money DAMMIT!!!

Obama plans to just print more money. Good job bub.

http://www.breitbart.com/article.php...show_article=1

http://voices.washingtonpost.com/the..._governme.html

[classicman]

I dunno -= you got a better plan? My income will be 1/2 of what it was last year. I'm game for whatever works.

[tw]

Originally Posted by TheMercenary

Print More Money DAMMIT!!!
Obama plans to just print more money. Good job bub.

From thw Washington Post of 8 Jan 2009 which says TheMercenary and his political agenda is lying again:

Bush Prepares to Ask for Second Tranche of Bailout Funds
Senior Bush administration officials are preparing to ask lawmakers for the second half of the $700 billion financial rescue package despite intense opposition in Congress and then use a presidential veto if the request is voted down, sources familiar with the matter said.

Problematic is not that money is being requested. Just like wicks did early in "Mission Accomplished" (flew three 747s chock full of pallets of $100 bill into Iraq with zero accounting), this administration has no idea what the TARP money has been used for.

Goldman Sachs took $10billion from the government, then issued over $10billion in bonuses when the company was losing money - when no bonuses would be paid in an honest corporation. Just an example of spending money while Enron accounting continues alive and well - even in how TARP money is given away.

[TheMercenary]

Originally Posted by tw

.....TheMercenary.....political agenda....."Mission Accomplished" .....

You left out Rush Limberger and wacko extremist. :p

[classicman]

Originally Posted by tw

From the Washington Post of 8 Jan 2009 which says TheMercenary and his political agenda is lying again:

Senior Bush administration officials, consulting with the Obama transition team, have prepared a plan to ask lawmakers for the second half of the $700 billion financial rescue package despite intense opposition in Congress, sources familiar with the discussions said.

"There have been discussions between the administration and the transition team on how to proceed ~snip~

"There have been discussions between the administration and the transition about how to proceed should the president-elect determine that he wants to have those funds available on January 20," said Robert Gibbs, spokesman for President-elect Barack Obama's transition team. "No final decisions have been made, but we want to be ready to act if needed."

Even as senior Bush and Obama officials consulted about how to access the rest of the money,

Many of the measure's provisions are being coordinated with Treasury Secretary nominee Timothy F. Geithner,

For Obama, using a veto runs the risk of souring his relationship with rank-and-file lawmakers, especially if it is one of his first official acts in the White House. It carries less risk for Bush, who is leaving office in a matter of days.

The article repeatedly states that the two administrations are working closely together on this issue.
I am sure we can all recognize that is to ensure a smooth transition and do what is best for the country.

Looks to me, like tw took out of that what tw wanted - more negativity.

Barney Frank (D-Mass.), unveiled a bill on Capitol Hill aimed at forcing the Treasury to use the money in accordance with lawmakers' wishes.

Democratic leaders say that a request from either administration is likely to be rejected, making a veto almost unavoidable.

Therein lies the rub!

[Trilby]

I can't believe this thread is still going.

It's OVER, folks. They bailed the bums out.

[tw]

Originally Posted by classicman

The article repeatedly states that the two administrations are working closely together on this issue.

The article only suggests what we know - the two administrations are talking - nothing more. George Jr is telling Obama what he will do despite what Obama has been planning. This president cannot help himself - spending every dime possible before leaving office.

Negative is what this president created and continues to create. Reality is only posted. What is routinely negative is classicman who routinely attacks this poster at every opportunity; who never deals with reality that opposes his politics; who never posts supporting facts. After all, that is what wackos are taught to do. Always attack and insult others who oppose wacko extremism - classicman.

George Jr is spending money that Obama already had plans for. Is that cooperation as classicman claims? Of course not. classicman must avoid that reality.

[tw]

Originally Posted by Brianna

It's OVER, folks. They bailed the bums out.

That's the point. It's not over. George Jr now wants the same amount of money again to bail out more 'friends'. Obama had been planning how to spend that money. George Jr cannot leave any cash unspent especially when it means those bums are his closest supporters. George Jr will screw us right up to his last day. Spend money without any accounting - as the oversight committe has now accused him of doing.