Gibberish
DP Veteran
- Joined
- Oct 18, 2005
- Messages
- 6,339
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- Location
- San Diego, CA
- Gender
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- Political Leaning
- Moderate
American International Group's (AIG.N) plan to exit government support could cut the cost of the U.S. Treasury's bailout program by half, to less than $50 billion based on current market valuations, a senior Obama administration official said on Thursday.
The plan to convert the Treasury's preferred shares in the bailed out insurer to common stock could yield a profit of around $16.5 billion for taxpayers, compared to a previously estimated loss of about $45 billion, the official said.
CORRECTED - UPDATE 1-AIG exit plan to slash U.S. bailout costs-official | Reuters
The bailout's started by Bush and taken even further by Obama were a horrible idea and to me this maybe a lucky break for Obama.
Mr President, I'd prefer you to NOT use my tax dollars at the craps table. Just because you may have come back positive this time doesn't negate the fact that you chose to participate in reckless gambling.
No one knows what would have happened without the bailouts or the stimulus even though they claim to. Bernanke and the top economic minds in the country said we would have gone into a depression worse than the Great One without the spending. They just might have saved our country. No one knows.
Any Minor good done will never in the long run offset the damage from the billions in wasteful spending and the economic damage coming from the phony Health Plan, Cap and Trade, and the rest of Obama's dangerous agenda. None of it so far has worked as claimed and all the damage has been fully felt yet.
But mark my words it's coming and we get one good chance to Restore America and our Constitution.
You do know it is also widely believed that fully one third of that money has has been held in reserve for another October surprise to try to effect the out come in the Nov. elections.
Until massive spending cuts are accompanied and a reduction in Taxes large enough to encourage manufacturing to grow because consumer confidence will go up and Jobs will be created. It's an attitude and mind set that will come with better plans.
I believe there is so much disillusionment now with Obama by the Democrat party, and of course by the Majority in the rest of us in the Trifeecta of Doom and the rest 0f Congress there is going to be a changing of the guard come Nov.
Funny how you were silent when Bush pissed away 6 trillion dollars and Reagan trippled the US debt..
What is really funny is you don't know what the hell your talking about even a little bit.
First I wasn't even signed onto this site until 04-25-09 so at least try to get a grip on reality and a few the facts that always seem to go the way of the Great Auk when ever one of your ilk goes on the attack an choose to use minor points that have nothing to do with the topic at hand, and then add made conclusions in another failed attempt to appear clever.
FYI I am a retired Reporter, Radio Talk Show Host, and politician and was very busy until I retired going after Bush's wasteful spending on the wars in Afghanistan and Iraq comparing the money spent with the costs of WW-II is today's dollars and it is frightening to see that we spent more in a few years in two small countries than we spent in four years fighting around the world.
I also apposed many of his other actions on a regular basis. You see Pal I am a Conservative not a republican and I am all about what is for what is good for our Nation in general and "WE THE PEOPLE" specifically.
Bush did run up the debt and it was wrong and the prosecution of wars justified or not, the cost was way (BEEPING) more than it should have because the Military farms out too many of the functions they used to handle in house like transportation of supplies and the meals being prepared by by contractors at exorbitant costs.
Companies like Backwater soaked us all.
Obama has now Nearly doubled the Bush debt in two years to over13 trillion dollars and it's climbing too fast to read.
Just try to read it/
Defeat The Debt
Again, where were you and people like you under Reagan and Bush?
And stop trying to push the fallacy that Obama has nearly doubled the debt in two years... The statistics simply do not agree with you.
If we go by when Obama came to office the debt was 10.6 trillion. If we go by the first Obama budget (an argument I believe you or one of your compatriots made when it came to Bush and Clinton), which started 1. October 2009, then the debt was 11.89 trillion. The debt as of August 2010 was 13.44 trillion. Now any idiot can see that going from 10.6 or 11.89 trillion to 13.44 trillion is NOT even close to doubling the debt.
Government - Monthly Statement of the Public Debt (MSPD) and Downloadable Files
Has all the monthly statements.. down to the last dollar.
So again, stop lieing and acknowledge that most of the US debt is in fact due to two Republican Presidents.. Reagan that trippled it and Bush that doubled it.
And dont forget.. AIG was under Bush's watch. Yes in 2008 we still had the brainless as US president.
Though I don't agree with a lot that Obama does I can never understand the need from some to lie and exaggerate to try and support their opposition.
Defeat The Debt eludes that Obama took office with zero debt and inheriting no policies from the previous administration that were adding to the debt.
Again, where were you and people like you under Reagan and Bush?
And stop trying to push the fallacy that Obama has nearly doubled the debt in two years... The statistics simply do not agree with you.
If we go by when Obama came to office the debt was 10.6 trillion. If we go by the first Obama budget (an argument I believe you or one of your compatriots made when it came to Bush and Clinton), which started 1. October 2009, then the debt was 11.89 trillion. The debt as of August 2010 was 13.44 trillion. Now any idiot can see that going from 10.6 or 11.89 trillion to 13.44 trillion is NOT even close to doubling the debt.
Government - Monthly Statement of the Public Debt (MSPD) and Downloadable Files
Has all the monthly statements.. down to the last dollar.
So again, stop lieing and acknowledge that most of the US debt is in fact due to two Republican Presidents.. Reagan that trippled it and Bush that doubled it.
And dont forget.. AIG was under Bush's watch. Yes in 2008 we still had the brainless as US president.
The mere fact that TARP was enacted by GW Bush kills that argument right there. I'll give you the stimulus spending was all Obama,
CORRECTED - UPDATE 1-AIG exit plan to slash U.S. bailout costs-official | Reuters
The bailout's started by Bush and taken even further by Obama were a horrible idea and to me this maybe a lucky break for Obama.
Mr President, I'd prefer you to NOT use my tax dollars at the craps table. Just because you may have come back positive this time doesn't negate the fact that you chose to participate in reckless gambling.
I agree that the bailout was a horrible idea. It also shows what kind of a double standard we have in this country. If you or I screw up in life, we are screwed. If a bankster does it, he is rewarded with a loan and a bonus.
Bankers own our government.
No one knows what would have happened without the bailouts or the stimulus even though they claim to. Bernanke and the top economic minds in the country said we would have gone into a depression worse than the Great One without the spending. They just might have saved our country. No one knows.
People haven't forgotten about it.
It's the reason why Bush went down in the polls and why the Tea Party was formed.
It's not a matter of Democrats versus Republicans, it's a matter of fiscal conservatives versus big spenders.
People haven't forgotten about it.
It's the reason why Bush went down in the polls and why the Tea Party was formed.
It's not a matter of Democrats versus Republicans, it's a matter of fiscal conservatives versus big spenders.
People haven't forgotten about it.
It's the reason why Bush went down in the polls and why the Tea Party was formed.
It's not a matter of Democrats versus Republicans, it's a matter of fiscal conservatives versus big spenders.
Ahhh revisionist history at its finest.. Bush was already in the toilet in the polls... and yet defended by the right.. go figure!
As far as I can see, all the Tea Party folks want to do is cut the spending that helps anyone other than them. Go ask one of those gray-haired TPers if they want to see their Medicare or SS cut and they will say something inane like "the government needs to leave my Medicare and SS alone" as if those aren't government programs (honest, I've seen them do this with my own eyes).
He was very far down in the polls yet defended by some in certain areas. though not necessarily the economy. There was the war in Iraq, for example, where he did get some strong support.
So before you make comments about "revisionist history", you might want to think the matter through, as well as get more specific on the areas under discussion.
LOL you are the one that brought it up by regurgitating a typical right wing falsehood.
.It was YOU that claimed that he was down in the polls due to the bailout, a clear and utter falsehood
He was down in the polls LONG before that.
And yet all I pointed out that despite being down in the poll toilet at the time, most Republicans even on these boards and especially in the party... defended him tooth and nail regardless of the subject.
I always say, you are what you eat. Eat a lot of garbage, and you become garbage.
Look, I don't know anyone, other than Bush and Reagan supporters who once told us the deficit was meaningless, who is arguing in favor of the deficit. Instead, many are noting the circumstances and perhaps arging this is the best we can do today. And some of us are arguing that if you really care about the debt, you have to call for reducing spending and raising taxes.
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