Mercnbeth
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A Trillion up front and 8 more Trillion in commitments. The will kill the economy for the next generation. Hell it could be an economic 'mass extinction' taking out the viable as well as the dinosaurs.
quote:
Only the stimulus package to be approved this week, the $700 billion Troubled Asset Relief Program passed four months ago and $168 billion in tax cuts and rebates approved in 2008 have been voted on by lawmakers. The remaining $8 trillion in commitments are lending programs and guarantees, almost all under the authority of the Fed and the FDIC. The recipients’ names have not been disclosed.
The promises are composed of about $1 trillion in stimulus packages, around $3 trillion in lending and spending and $5.7 trillion in agreements to provide aid.
“We’ve seen money go out the back door of this government unlike any time in the history of our country,” Senator Byron Dorgan, a North Dakota Democrat, said on the Senate floor Feb. 3. “Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?”
Source: http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok
When? Why? Indeed! Note - this is a Democrat's opinion. A beacon of hope or a cry in the wilderness, I don't know. But this pork, rewarding failures, government take-over and intervention attempt, should die. If there were any pragmatic reasoning involved it would be, but you have 'special interests' and Nancy Pelosi's attempt use the current problem to implement academic theory of social, economic, 'utopia'. A 'utopia' of course, that she's never had to live, being of the privileged 'private jet' class of citizen.
You saw the after the fact policies being implemented by this administration regarding executive compensation. Use that as an indication of how the administration will operate. They provide the stimulus today - they provide the new laws tomorrow. We may have all welcomed the income limitations for the failures of ruining the failed companies, but we will welcome the same 'next day laws' which will go into effect, perhaps already buried, in this massive piece of legislation that our elected Representatives admit to "spending only 3 seconds", and not containing the answers of "when" or "why".
There will be no middle class if this is instituted. The ability for upward mobility will be eliminated. No rhetoric to be heard today, can change the reality.
PS - What to see where some of your tax dollars are being used as stimulation? quote:
SAO PAULO -- General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.
According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."
Source: http://www.laht.com/article.asp?CategoryId=12396&ArticleId=320909 Is the 'CHANGE!' you voted for pointed to helping the auto workers of Brazil?
Good for GM - They got their money's worth from their PAC representatives. They got their money, obviously without any conditions for US investment. You have to appreciate management who takes advantage of the stupidity of government intervention. Similarly, although I am disgusted by the process, I appreciate the Obama Administration and Congress taking advantage of the stupidity of the US electorate .
< Message edited by Mercnbeth -- 2/9/2009 6:42:48 AM >
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RE: Stimulus: "We simply made a decision, which to... - 
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