TOTAL cost of Fed Govt Bailout

[DavidS]

Remember Congress only approved $700 billion.

Lord knows where the hell they're getting the rest of this money and why, if they could do this all along without Congress, they didn't do it before.

Financial Crisis Tab Already In The Trillions - Financials * US * News * Story - CNBC.com

Financial Crisis Balance Sheet
Government Entity Sum in Billions of Dollars
Federal Reserve

(TAF) Term Auction Facility 900

Discount Window Lending
Commercial Banks 99.2
Investment Banks 56.7
Loans to buy ABCP 76.5
AIG 112.5
Bear Stearns 29.5
(TSLF) Term Securities Lending Facility 225
Swap Lines 613
(MMIFF) Money Market Investor Funding Facility 540
Commercial Paper Funding Facility 257


(TARP) Treasury Asset Relief Program 700


Other:
Automakers 25
(FHA) Federal Housing Administration 300
Fannie Mae/Freddie Mac 350

Total $4.3 trillion

 

[Annie]

Really, we haven't a clue. I figure my great grandchildren will be paying for this nonsense, my kids aren't married yet.

 

[GigiBowman]

I think there will come a point where the entire US will just implode

 

[Annie]

I think there will come a point where the entire US will just emplode

Not being a smartass, but emplode? What does that mean?

 

[GigiBowman]

Not being a smartass, but emplode? What does that mean?

spelling error Kathianne

 

[DavidS]

Not being a smartass, but emplode? What does that mean?

I think he meant implode.

 

[Gunny]

I think there will come a point where the entire US will just emplode

What we NEED to do is tell these corporations tough shit. Then we need to tell the UN/foreign aid tough shit. We need tell Iraq, your country, we gave it to you on a silver platter, fight for it yourselves then bring those military assests home, and the check that goes with them. Redeploy then from Brownseville to San Ysidro. Tack a hefty as import tariff on anything that comes into this country, and double it if it comes from a US manufacturer that relocated overseas.

And tell the rest of the world that thinks we're so terrible anyway to just fuck off.

 

[Annie]

Damn I've not had near enough econ, thought nearly more than enough of other social sciences.

My guess is the US needs to stop taxing, curtail spending, and the people need to pay off their debt. I'm doing my part. I've cut my Christmas spending by more than 1/2. I've cut my personal spending to food and bills.

 

[Gunny]

Damn I've not had near enough econ, thought nearly more than enough of other social sciences.

My guess is the US needs to stop taxing, curtail spending, and the people need to pay off their debt. I'm doing my part. I've cut my Christmas spending by more than 1/2. I've cut my personal spending to food and bills.

Basically what I just proposed is we stop supporting the world and fend for ourselves. That includes punishing US corporations that relocate overseas to up their profit margin at the expense of US jobs and the US economy. Seal the Southern border and knock off this illegal immigration BS that's also a main contributing factor to sucking our economy dry.

We need to take care of our own first.

 

[Dr Grump]

Protectionism never works...

 

[DavidS]

Get a hoot of this.

Our federal budget for 2009: $3.1 trillion.

Estimated receipts for fiscal year 2009 are 2.7 trillion (+7.1%).

So we've now spent $1.2 trillion MORE in the past 60 days than our entire budget for 2009 AND $1.6 trillion MORE in the past 60 days than was originally estimated to be paid to the United States Federal Government in income. We already had a budget deficit of $400 billion, now we have a budget deficit of $1.6 trillion for 2009 and we're not done yet. There is a $500 billion stimulus package on the way and who knows how many more banks need to be bailed out?

http://en.wikipedia.org/wiki/2009_United_States_federal_budget

 

[Annie]

Basically what I just proposed is we stop supporting the world and fend for ourselves. That includes punishing US corporations that relocate overseas to up their profit margin at the expense of US jobs and the US economy. Seal the Southern border and knock off this illegal immigration BS that's also a main contributing factor to sucking our economy dry.

We need to take care of our own first.

I agree with sealing borders, but also increasing legal immigration from south of our border. I also think that we should take a long pause about 'providing jobs' for those out of work or maybe soon out of work. At what level of government is the need the greatest? Inter or Intrastate? I'm referring to roads, bridges, levees, etc.,.

 

[Gunny]

Protectionism never works...

Cleaning up your own house and yard before worrying about the neighbor's ALWAYS works.

 

[Annie]

Protectionism never works...

Indeed it does. We not only need protectionism regarding our innovations, we also need free markets which we've been denied.

 

[Gunny]

I agree with sealing borders, but also increasing legal immigration from south of our border. I also think that we should take a long pause about 'providing jobs' for those out of work or maybe soon out of work. At what level of government is the need the greatest? Inter or Intrastate? I'm referring to roads, bridges, levees, etc.,.

I disagree with increasing legal immigration. The opportunities that existed when those laws were written no longer exist here. We're overcrowded, overpolluted, and just flat-out raping the land as it is.

What you're talking about is the second coming of "the New Deal." We should ALREADY be doing that for welfare/aid recipients, IMO.

 

[WillowTree]

Wouldn't you guys just love to know how many of those $750,000 homes you just bought for the illegals?? that would be most interesting..

 

[Gunny]

Indeed it does. We not only need protectionism regarding our innovations, we also need free markets which we've been denied.

Definitely. We give foreign corporations all these breaks and screw our own and make them leave. We need to turn that around. Reward our corporations that stay here, and have a higher tax for foreign corporations.

Part of the destruction of our economy has come at the hands of these lopsided deals trying to curry favor with other countries. Sure. We let them build an dsell cars here, they let us sell Coca Cola there.

 

[Annie]

Definitely. We give foreign corporations all these breaks and screw our own and make them leave. We need to turn that around. Reward our corporations that stay here, and have a higher tax for foreign corporations.

Part of the destruction of our economy has come at the hands of these lopsided deals trying to curry favor with other countries. Sure. We let them build an dsell cars here, they let us sell Coca Cola there.

And no one in Congress is screaming. Damn them!

 

[Gunny]

And no one in Congress is screaming. Damn them!

Why would they? Look at them. All those promises. They got elected, what have they done? Nothing.

The same crowd bought the same BS from Obama. He was going to shake up Washington. Change was coming. Yeah, HE changed alright.

The officials in Washington are controlled by lobbies whether or not they'll admit it. And the Democrats are in as deep as the Republicans, despite their snowjob that's perpetuated by their sheeple.

Ron Paul was screaming. They shut him down and out just as they do anyone that doesn't go with the program.

 

[Annie]

Why would they? Look at them. All those promises. They got elected, what have they done? Nothing.

The same crowd bought the same BS from Obama. He was going to shake up Washington. Change was coming. Yeah, HE changed alright.

The officials in Washington are controlled by lobbies whether or not they'll admit it. And the Democrats are in as deep as the Republicans, despite their snowjob that's perpetuated by their sheeple.

Ron Paul was screaming. They shut him down and out just as they do anyone that doesn't go with the program.

Seriously regarding Ron Paul, he took the money and ran. Let's be honest with that.

As for the two major parties, not a whit worth of difference, other than how fast they raise or lower taxes on the middle class.