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Obama administration looks to use TARP for deficit reduction

Re: How ignorant do you think we are?

apdst said:
Do you understand the concept of robbing Peter, to pay Paul?

This is like taking out a loan, then holding onto the money to pay the note every months.
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No, it would be like taking out a loan to buy stuff, having money left over, and using that money to pay off some of the loan. That kinda makes sense to do, and in this case, is the law.
 
Re: How ignorant do you think we are?

Redress said:
No, it would be like taking out a loan to buy stuff, having money left over, and using that money to pay off some of the loan. That kinda makes sense to do, and in this case, is the law.
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How 'bout taking out a loan for the exact amount you need, instead? That would make even more sense. An even more common sense thing to do, is to make sure that it's a wise investment and you're going to see a return, especially if you're too deep in debt, to begin with.
 
Re: How ignorant do you think we are?

apdst said:
How 'bout taking out a loan for the exact amount you need, instead? That would make even more sense. An even more common sense thing to do, is to make sure that it's a wise investment and you're going to see a return, especially if you're too deep in debt, to begin with.
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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.
 
Re: How ignorant do you think we are?

Redress said:
That would require actually knowing how much you need
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DUH!!!!....:rofl


[/quote]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.[/QUOTE]

Why? So it will take our eyes off the 800 billion in entitlement money that he is responsible for passing?
 
Re: How ignorant do you think we are?

apdst said:
DUH!!!!....:rofl
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Then why ask if you knew that already?


Why? So it will take our eyes off the 800 billion in entitlement money that he is responsible for passing?
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No idea what you are trying to say here.
 
Re: How ignorant do you think we are?

apdst said:
Do you understand the concept of robbing Peter, to pay Paul?

This is like taking out a loan, then holding onto the money to pay the note every months.
Click to expand...

Kinda what the banks/investment firms did before the economic collapse this country, if not the world, now finds itself in, huh? Used loans to hedge their bets...took high risks with other people's money in the hopes of gaining big rewards?

Seriously, I get where you're coming from, but that's why I find this issue so ridiculous.

Fiscal responsibility has been one of the main issues Conservatives/Republicans have been complaining about concerning the Obama presidency from day-1 and when he finally begins to take action to pay down the deficit you guys denounce him for it. He's going to have to cut spending somewhere at some point. Why not let it start with a program the taxpayers didn't willingly buy into in the first place? This makes perfectly good sense to me and it is the responsible thing to do. But instead of applauding his sound judgement, you (Republicans...well, some of you anyway) put his efforts down.

Amazing...:doh

apdst said:
DUH!!!!....:rofl


So it will take our eyes off the 800 billion in entitlement money that he is responsible for passing?
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If you're referring to the health reform bill, it's going to cost a ton either way it goes - whether a bill is passed or the government does nothing.

Medicare cost will continue to go up. Health care cost will continue to rise. Insurance premium will continue to increase. So, you either try to do something about it by changing the regulations in the hopes of bringing down the costs or you do nothing and hope capitalism will correct the problem. And seeing that we live in a capitalistic country, I doubt if we see an decrease in health care cost overall anytime soon, if ever....not unless the private sector is made to change their ways.
 
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Re: How ignorant do you think we are?

Objective Voice said:
Kinda what the banks/investment firms did before the economic collapse this country, if not the world, now finds itself in, huh? Used loans to hedge their bets...took high risks with other people's money in the hopes of gaining big rewards?
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That's what banks do. It's how they make money.


If you're referring to the health reform bill, it's going to cost a ton either way it goes - whether a bill is passed or the government does nothing.

Medicare cost will continue to go up. Health care cost will continue to rise. Insurance premium will continue to increase. So, you either try to do something about it by changing the regulations in the hopes of bringing down the costs or you do nothing and hope capitalism will correct the problem. And seeing that we live in a capitalistic country, I doubt if we see an decrease in health care cost overall anytime soon, if ever....not unless the private sector is made to change their ways.
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It's already been illustrated how it's going to cost a ton more than if the government did nothing.
 
apdst said:
Ever heard of a rhetorical question?
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Or how about a misleading one? I have heard of those too, and that is what you did. You cannot take out the exact amount, unless you know exactly how much you need, which was not known at the time.

Now, let me ask you a real question: what should Obama do with this money left over from the Bush administration?
 
Redress said:
Or how about a misleading one? I have heard of those too, and that is what you did. You cannot take out the exact amount, unless you know exactly how much you need, which was not known at the time.

Now, let me ask you a real question: what should Obama do with this money left over from the Bush administration?
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Anything that kills your arguement, or confuses you is now misleading?
 
apdst said:
Anything that kills your arguement, or confuses you is now misleading?
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Nice spin! No, I could not make heads or tails of what you where arguing. Explain it clearer, and I will happily respond, but without knowing what you are trying to say, it's kinda difficult to say anything.

And I note you ducked the question I asked of you. No surprise there.
 
Redress said:
Nice spin! No, I could not make heads or tails of what you where arguing. Explain it clearer, and I will happily respond, but without knowing what you are trying to say, it's kinda difficult to say anything.

And I note you ducked the question I asked of you. No surprise there.
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You don't understand why your wrong, nor will you, so what's the point of addressing your question?
 
apdst said:
You don't understand why your wrong, nor will you, so what's the point of addressing your question?
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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...
 
Redress said:
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...
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I know you like me, but I'm not going to dance with you anymore on this one.
 
apdst said:
I know you like me, but I'm not going to dance with you anymore on this one.
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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?
 
Re: How ignorant do you think we are?

Redress said:
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.
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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. :2wave:
 
Re: How ignorant do you think we are?

Crunch said:
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. :2wave:
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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?
 
Re: How ignorant do you think we are?

Redress said:
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?
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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.
 
Re: How ignorant do you think we are?

Redress said:
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?
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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.
 
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Re: How ignorant do you think we are?

Aunt Spiker said:
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.
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Now if they would just do the same thing with the leftover stimulus money….. That would stimulate the economy.
 
Re: How ignorant do you think we are?

Crunch said:
Now if they would just do the same thing with the leftover stimulus money….. That would stimulate the economy.
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:rofl

"I think this town needs an enema"
- The Joker
 
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