Earlier this month the Treasury Department found that all 19 banks subject to government “stress tests” passed. Now this past Sunday, White House Director of the Office of Management and Budget Peter Orszag announced that: “The freefall in the economy seems to have stopped.”
Economic catastrophe was the only rational supporting both the $700 billion TARP and the $787 billion stimulus. Now that the “freefall” is over it is time to repeal TARP and repeal the stimulus.
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Congress is trying to fool you. Here’s how they do business. A piece of legislation is going to cost trillions of dollars, but Members of Congress don’t want the public to see that. Instead, they have the Congressional Budget Office (CBO) look at the bill for just the first 10 …
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Ha, not so fast.The funds for my daughters school district have just arrived. And finally special ed will have the funding it needs to be a successful program for children in need. Next up, a Health Care system overhaul! My great State of Texas due in part to the low tax/small gov.model has also neglected that bread and butter issue as well. Only 80% of the population is covered. Finally the ball has started to bounce for the less fortunate!
Excellent conclusion! Why extend the recession with excessive spending and borrowing. If Obama wants to be more than a one-term wonder, he needs to repeal the Stimulus and curtail the expected borrowing that would drive inflation in 2010.
Want to see an economic boom? Repeal the stimulus and insist on a balanced operating budget. The Chosen One would then be unbeatable.
The Baners and Lenders and Insurance companies need to be accountable just like the FED should be. We bailed them out and they made a lot of money with the funds and now they don't want to agree with the rules because they can't get the 20+ million a year profit like the President of Bank of New York gets. Now that is sinful…..
Pingback: » Financial News Update - 05/18/09 NoisyRoom.net: “Extremism in the defense of liberty is no vice. Moderation in the face of tyranny is no virtue.” Barry Goldwater
worldbfree4me………if you want something for your children go out and work for it yourself don't wait on anyone to give it to you. Stop looking for a hand out.
But many of these banks did NOT want the TARP money. The government forced them to take it. While this mess began with the Community Reinvestment Act of 1978 and while good old-fashioned greed may have contributed, never lose sight of the real criminals in this debacle—U.S. representatives and Senators who protected Fannie and Freddie for their millions in pay-offs. If an honest investigation occurred, we the people would discover corruption on a scale to make Enron execs look juvenile in their crimes.
If any of you want anymore of my money you have to come to my house with hat in hand and ask me nicely. In lieu of that get off your butt and work harder for to achieve your dreams and goals the same way I did. STOP THE RECKLESS SPENDING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
If say 50,000,000 of us instead of paying our taxes put them into a escrow account until the Federal Govt starts following the Constitution.They can't arrest us all they must litigate. It can work when dealing with a lousy landlord. If we have the money set aside they can't prove we don't intend to pay. We are just witholding payment until they start doing the job as written in the Constitution. I'm not a lawyer I have a soul so I'm not sure of the legal wording but there has to be a way to challenge these despots in court.
Ha, not so fast.The funds for my daughters school district have just arrived. And finally special ed will have the funding it needs to be a successful program for children in need. Next up, a Health Care system overhaul! My great State of Texas due in part to the low tax/small gov.model has also neglected that bread and butter issue as well. Only 80% of the population is covered. Finally the ball has started to bounce for the less fortunate!
It is precisley this attitude that is the foudation of Tytler's prediction for the end of denmocracy. Once the majority realizes that by voting for people that will give them handouts the country is doomed. The minority cannot support the majority for long.
Repeal or Revolt!
These two spending bills are just a start to obama's anti-American agenda. Consider Waxman-Markey and the countless other new taxes he intends for us, wake up or there will be nothing left for him to steal…
You guys have it all wrong; TARP and economical stimulas wasn't to fix the economy but to change the economy. We can't leave a crisis go to waste
Bill W., your on the right course but the wrong hole! Surely you have already witnessed the audacity with which the Obama Administration "crams down" legislation that the rest of us haven't had a chance to even read! As well, they would not hesitate to rummage through OUR VERY OWN SAVINGS ACCOUNTS to get what THEY think is theirs already. Whether you've remitted it to them "officially" or not! Make no mistake. You are on the right course, about withholding money, that they intend to use against you in the end anyway. The cold hard truth is that We the PEOPLE will continue to suffer at the hands of our own Government as long as We the PEOPLE continue to fund it! Just don't pay your taxes and let them "officially TAKE" it illegally, so that you have retribution at your eventual disposal! Insurrection is inevitable when tyranny is forced upon an armed society. Tyranny is inevitible when only the RULER is armed! Remember the 2nd Amendment gives footing to all other rights,so… keep your footing and stand the ground YOU WALK! Walk the HIGHER GROUND!!
TARP and other bailouts financed by the printing of more money is the very subtle way of stealing from the pockets of those who have wisely saved their whole lives. There will be few new taxes because that would impact those that have not saved money. The printing of money allows the government to spend money on programs they deem necessary while also driving up inflation. This inflation decreases the value of dollars the prudent have already squirrelled away. The government is well aware that you can't get something for nothing. Money doesn't grow on a printing press – it grows out of your savings.
Where and how is the government getting funding for TARP and the stimulus package?
The Federal Reserve is the real problem then isn't it?