View Poll Results: Should repaid/unused TARP funds go to the deficit?

Voters
9. You may not vote on this poll
  • Yes

    9 100.00%
  • No

    0 0%
Results 1 to 9 of 9

Thread: Should repaid/unused TARP funds go to the deficit?

  1. #1
    Filmmaker Lawyer Patriot
    Harshaw's Avatar
    Join Date
    Oct 2005
    Last Seen
    Yesterday @ 07:23 PM
    Lean
    Libertarian - Right
    Posts
    29,607

    Should repaid/unused TARP funds go to the deficit?

    Pretty straightforward -- there are about $350BB in unused TARP funds, and most of what went out is back or going to be fairly soon.

    Republicans have proposed using it all to bring the deficit down; an amendment to that effect was defeated today, with only two Democrats voting for it.

    Sen. Dodd explained that the funds should be used for "stimulus" or other general-fund purposes.

    I think that's not only illegal --TARP was not authorized to be a general fund -- but in the face of trillion-and-a-half dollar shortfalls, insane. I also think it makes complaints of "inherited" deficits ring rather hollow.

    I've made this yes or no, but of course, any answer can and should be elaborated on.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

  2. #2
    Enemy Combatant
    Kandahar's Avatar
    Join Date
    Jul 2005
    Location
    Washington, DC
    Last Seen
    10-15-13 @ 08:47 PM
    Gender
    Lean
    Liberal
    Posts
    20,688

    Re: Should repaid/unused TARP funds go to the deficit?

    Quote Originally Posted by Harshaw View Post
    Pretty straightforward -- there are about $350BB in unused TARP funds, and most of what went out is back or going to be fairly soon.

    Republicans have proposed using it all to bring the deficit down; an amendment to that effect was defeated today, with only two Democrats voting for it.

    Sen. Dodd explained that the funds should be used for "stimulus" or other general-fund purposes.

    I think that's not only illegal --TARP was not authorized to be a general fund -- but in the face of trillion-and-a-half dollar shortfalls, insane. I also think it makes complaints of "inherited" deficits ring rather hollow.

    I've made this yes or no, but of course, any answer can and should be elaborated on.
    Ideally, somewhere between the two. The economy is still not great, so we may need another round of stimulus (albeit smaller than the previous).

    I agree that TARP shouldn't be used as a general fund though. If they're going to have another stimulus, they need to pass another stimulus bill through Congress.
    Are you coming to bed?
    I can't. This is important.
    What?
    Someone is WRONG on the internet! -XKCD

  3. #3
    Educator Winnb's Avatar
    Join Date
    Jan 2010
    Location
    Virginia
    Last Seen
    02-22-10 @ 07:09 PM
    Gender
    Lean
    Libertarian
    Posts
    822

    Re: Should repaid/unused TARP funds go to the deficit?

    Either pay down the debt or give the money back to the tax payers.
    Peace, commerce and honest friendship with all nations; entangling alliances with none.

    -------------------------------------------------

  4. #4
    Banned
    Join Date
    Oct 2009
    Location
    LIBTARDISTAN
    Last Seen
    05-01-10 @ 11:38 AM
    Gender
    Lean
    Undisclosed
    Posts
    3,629

    Re: Should repaid/unused TARP funds go to the deficit?

    They are set to borrow another 1.9 Trillion, 350 B is chump change, so piss it away on some more pork......

  5. #5
    Banned
    Join Date
    Sep 2005
    Location
    Los Angeles
    Last Seen
    09-22-10 @ 04:36 AM
    Gender
    Lean
    Independent
    Posts
    11,430

    Re: Should repaid/unused TARP funds go to the deficit?

    "Go to the deficit"....does that mean "not spend it at all", or "use the Mastercard to pay the Visa and pick up more interest charges along the way"?

  6. #6
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 07:01 AM
    Lean
    Very Liberal
    Posts
    93,361
    Blog Entries
    2

    Re: Should repaid/unused TARP funds go to the deficit?

    Quote Originally Posted by Harshaw View Post
    Pretty straightforward -- there are about $350BB in unused TARP funds, and most of what went out is back or going to be fairly soon.

    Republicans have proposed using it all to bring the deficit down; an amendment to that effect was defeated today, with only two Democrats voting for it.

    Sen. Dodd explained that the funds should be used for "stimulus" or other general-fund purposes.

    I think that's not only illegal --TARP was not authorized to be a general fund -- but in the face of trillion-and-a-half dollar shortfalls, insane. I also think it makes complaints of "inherited" deficits ring rather hollow.

    I've made this yes or no, but of course, any answer can and should be elaborated on.
    I am really split on this. If there is some sure stimulus, I have no problem with spending on that, maybe as a simple stimulus check kinda thing to people. However, I always approve of lowering the deficit when possible, so I would love to see it used for that too. If the choice was in my hands, I would probably go with paying on debt, deficit reduction, but I doubt I am going to get bent out of shape either way(depending of course on the stimulus spent on).
    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.

  7. #7
    Advisor JoeMama's Avatar
    Join Date
    Jan 2009
    Location
    Antarctica
    Last Seen
    06-15-10 @ 03:24 PM
    Lean
    Independent
    Posts
    429

    Re: Should repaid/unused TARP funds go to the deficit?

    If they don't put it to bring down the deficit, and most american people find out, Dems are screwed.

    As much as the American people hate the word "unemployment" they hate the word "deficit" almost as much (hence, the battle over the stimulus package).

    When Americans go into debt it's frowned upon, yet it is perfectly fine for the government to go into the deep red.

    If the Senate does reallocate the funds to be used for 'general purposes', they would be effectively saying there is not limit to what Congress will spend. I don't care if you are a Republican or Democratic, that mindset will not sit well with the average American.
    "Two things are infinite: the universe and human stupidity; and I'm not sure about the former" - Albert Einstein

  8. #8
    Banned
    Join Date
    Sep 2005
    Location
    Los Angeles
    Last Seen
    09-22-10 @ 04:36 AM
    Gender
    Lean
    Independent
    Posts
    11,430

    Re: Should repaid/unused TARP funds go to the deficit?

    Quote Originally Posted by Kandahar View Post
    Ideally, somewhere between the two. The economy is still not great, so we may need another round of stimulus (albeit smaller than the previous).

    I agree that TARP shouldn't be used as a general fund though. If they're going to have another stimulus, they need to pass another stimulus bill through Congress.

    We will never need another "stimulus".

    We've never needed any yet.

    What we need is the government to stop picking our pockets.

  9. #9
    Enemy Combatant
    Kandahar's Avatar
    Join Date
    Jul 2005
    Location
    Washington, DC
    Last Seen
    10-15-13 @ 08:47 PM
    Gender
    Lean
    Liberal
    Posts
    20,688

    Re: Should repaid/unused TARP funds go to the deficit?

    Quote Originally Posted by Scarecrow Akhbar View Post
    We will never need another "stimulus".

    We've never needed any yet.

    What we need is the government to stop picking our pockets.

    ....
    Are you coming to bed?
    I can't. This is important.
    What?
    Someone is WRONG on the internet! -XKCD

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •