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Thread: Obama administration looks to use TARP for deficit reduction

  1. #41
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    Re: Obama administration looks to use TARP for deficit reduction

    Quote Originally Posted by Redress View Post
    Again, nice spin. When faced with a question you cannot answer, you just say "you would not understand" so you don't have to answer. Very clever...
    I know you like me, but I'm not going to dance with you anymore on this one.
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    Re: Obama administration looks to use TARP for deficit reduction

    Quote Originally Posted by apdst View Post
    I know you like me, but I'm not going to dance with you anymore on this one.
    Alright, since you are going to run away, any other of the people complaining about this want to answer what Obama should do with the money left over from TARP?
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: How ignorant do you think we are?

    Quote Originally Posted by liblady View Post
    what i see is fiscal responsibility.
    I like you to much to be mean. Fiscal responsibity it is then. Please pass the kool aid.

  4. #44
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    Re: How ignorant do you think we are?

    Quote Originally Posted by Redress View Post
    That would require actually knowing how much you need, which in this case we obviously did not. Further, Obama is not responsible for TARP passing, since it happened in 2008. What Obama is suggesting is that the extra amount gets paid back instead of spent on more programs you would bitch about.
    Uhhhhhh....

    [ame="http://www.scribd.com/doc/6374932/Senate-Roll-Call-Vote"]Senate Roll Call Vote@@AMEPARAM@@/docinfo/6374932?access_key=key-1ghqdz3e10g5lmb8dpqb@@AMEPARAM@@6374932@@AMEPARAM@ @key-1ghqdz3e10g5lmb8dpqb[/ame]

    Seems Barry voted "Yea" on this bill in 2008.

    When are people going to get it through their heads that it is CONGRESS that holds the purse strings in this country.

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    Re: How ignorant do you think we are?

    Quote Originally Posted by Crunch View Post
    Uhhhhhh....

    Senate Roll Call Vote

    Seems Barry voted "Yea" on this bill in 2008.

    When are people going to get it through their heads that it is CONGRESS that holds the purse strings in this country.
    OK, I should have phrased that differently. Obama did not request, and was only marginally responsible for it passing. It's interesting that Obama gets blamed for the spending this year, but when you point out TARP was last year, that is congress's fault.

    Now, what do you think should be done with the leftover money? Why do none of you complaining want to answer that question?
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: How ignorant do you think we are?

    Quote Originally Posted by Redress View Post
    OK, I should have phrased that differently. Obama did not request, and was only marginally responsible for it passing. It's interesting that Obama gets blamed for the spending this year, but when you point out TARP was last year, that is congress's fault.

    Now, what do you think should be done with the leftover money? Why do none of you complaining want to answer that question?
    I haven't complained, I just think Barry is going to take credit for reducing the National debt, and that will be another lie.... but he is good at that.

  7. #47
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    Re: How ignorant do you think we are?

    Quote Originally Posted by Redress View Post
    OK, I should have phrased that differently. Obama did not request, and was only marginally responsible for it passing. It's interesting that Obama gets blamed for the spending this year, but when you point out TARP was last year, that is congress's fault.
    Now, what do you think should be done with the leftover money? Why do none of you complaining want to answer that question?
    There is no leftover money. The government never set up a separate TARP fund, put money into it. It was all done on paper in a budget - not a real bank account.
    The only time any real money changed hands was when they transferred funds from the federal government to other places.
    So - the idea that there's a stack of money not being spent which has a TARP sticky note on it quite isn't realistic.

    It's like this:

    1) I have $1,000. I open up a bank account and put the money in there.

    2) I decide that I need to save $700.00 of it - avoid spending it - to put it aside for emergencies in the future.

    3) So on paper I write $700.00 for future emergencies in column A, $300.00 to spend, now, in column B.

    4) And when I spend money on food I deduct it form the $300.00 balance - column B.

    5) So, I spend all of my $300.00 in column B. I want to spend more money.

    6) But because I divided my money into two columns I now have to subtract $300.00 from the $700.00 in column A and add that amount to column B.
    Leaving $400.00 for emergencies in column A.

    7) The $700.00 is still in my one bank account - it never went anyway - my "setting it aside" was only on paper. . . So I, only on paper, am taking the $400.00 from one side and putting it into the other to make it look like I, now, have more money to spend.

    This is what the government is doing - they're taking their OWN money and shifting it into the other column.

    And, on that note, the reason why TARP didn't work is because they never put the money towards what htey intended it for in the first place - TARP was suppose to be the "Trouble Assests Relief Program" - they were suppose to be buying people's bad debt (mortgages, etc) .. instead, they started giving it as bailout money which didn't help at all.

    But I'm not really complaining - I think that TARP was bull**** to begin with and i'm glad that not all that money was flushed into it, honestly.
    Last edited by Aunt Spiker; 11-13-09 at 07:28 PM.
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  8. #48
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    Re: How ignorant do you think we are?

    Quote Originally Posted by Aunt Spiker View Post
    There is no leftover money. The government never set up a separate TARP fund, put money into it. It was all done on paper in a budget - not a real bank account.
    The only time any real money changed hands was when they transferred funds from the federal government to other places.
    So - the idea that there's a stack of money not being spent which has a TARP sticky note on it quite isn't realistic.

    It's like this:

    1) I have $1,000. I open up a bank account and put the money in there.

    2) I decide that I need to save $700.00 of it - avoid spending it - to put it aside for emergencies in the future.

    3) So on paper I write $700.00 for future emergencies in column A, $300.00 to spend, now, in column B.

    4) And when I spend money on food I deduct it form the $300.00 balance - column B.

    5) So, I spend all of my $300.00 in column B. I want to spend more money.

    6) But because I divided my money into two columns I now have to subtract $300.00 from the $700.00 in column A and add that amount to column B.
    Leaving $400.00 for emergencies in column A.

    7) The $700.00 is still in my one bank account - it never went anyway - my "setting it aside" was only on paper. . . So I, only on paper, am taking the $400.00 from one side and putting it into the other to make it look like I, now, have more money to spend.

    This is what the government is doing - they're taking their OWN money and shifting it into the other column.

    And, on that note, the reason why TARP didn't work is because they never put the money towards what htey intended it for in the first place - TARP was suppose to be the "Trouble Assests Relief Program" - they were suppose to be buying people's bad debt (mortgages, etc) .. instead, they started giving it as bailout money which didn't help at all.

    But I'm not really complaining - I think that TARP was bull**** to begin with and i'm glad that not all that money was flushed into it, honestly.
    Now if they would just do the same thing with the leftover stimulus money….. That would stimulate the economy.

  9. #49
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    Re: How ignorant do you think we are?

    Quote Originally Posted by Crunch View Post
    Now if they would just do the same thing with the leftover stimulus money….. That would stimulate the economy.


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    A screaming comes across the sky.
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