Quote:
Originally Posted by Jewish Lawyer
I believe Obama was President during 2009, hence he should man up and own the deficit. Why does it bother you who the debt and deficits are attributed to, anyway? Liberals don't believe deficits and debt matter, do they? It is only the cruel and heartless conservatives who wish to cut government spending on the backs of the poor, isn't it?
I see it like this: Liberals want to keep sending money to their constituents, and Republicans don't want to raise taxes. Personally, I'd rather keep on deficit spending than give any more money to the US government, so fuck it - since I voted for the Obamination twice, I guess I don't give a shit about the US government debt anymore than you liberals do. Party on big spenders.
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the fiscal year ends Sept 30 .. in the case of the 08 election year, all spending between Oct 1, and Jan I 09 goes on the 09 record books ..
I digress ... Obie wasn't president when these massive spending bills went on the books
Oct 1 The Senate Passes TARP
The Senate passes a revised version of the bill,
stuffed with tax breaks.
Oct 3 The House Passes TARP
The House passes the bill, and the president signs the $700 billion
Emergency Economic Stabilization Act into law.
Oct 8 Second AIG Bailout
The government
restructures its bailout of AIG. The insurer gets access to $37.8 billion more in loans.
Oct 14 Paulson Rolls Out Bank Investments
The Treasury Department announces that it will
invest up to $250 billion in the nation's banks via the
Capital Purchase Program, a subcomponent of the TARP, and billed as investments in "healthy banks." Paulson announced nine major banks signed on for a total of $125 billion in investments. (
More about the program here.)
Oct 3 Wells Fargo Buys Wachovia
Wachovia, rejecting a previous proposal with Citigroup, agreed to merge with Wells Fargo for $15.4 billion
November
46 bailouts: $90.3B
List
Nov 10 Third AIG Bailout The government restructures its bailout of AIG for
the second time. Treasury invests $40 billion in AIG as
part of the government’s now-
$150 billion effort to keep AIG from collapsing.
Nov 12 Paulson Scraps Original Bailout Plan Paulson announces that he's
scrapping the plan to purchase troubled assets. The capital investments in the banks proved to be a "more powerful" means of boosting the financial system, he said.
Nov 14 Freddie Mac Asks for $13.8 Billion Freddie Mac
reports a net loss of $25.3 billion for the third quarter of 2008. To fill the hole of its losses, the Federal Housing Finance Agency requests $13.8 billion from the Treasury.
Nov 23 Citigroup Bailed Out The Treasury announces that it will
invest $20 billion more in Citigroup; this is in addition to a $25 billion investment in October through the Capital Purchase Program. The government also agrees to use up to $5 billion to help Citi absorb losses from a $301 billion pool of assets.
Nov 25 Fed and Treasury Roll Out Program to Spur Lending (TALF) The Treasury and Fed announce
the Term Asset-Backed Securities Loan Facility (TALF), a Fed program that will lend up to $200 billion to owners of highly rated asset-backed securities in order to spur consumer lending. Treasury puts up $20 billion to support the effort. (
More about the program here.)
December
166 bailouts: $65.4B
1 revenue payments: $172M
List
Dec 19 Auto Bailout Announced The Treasury announces that it will make
loans to General Motors and Chrysler to prevent bankruptcy. (
More about the
the first plank for idiot rightwinger platforms, ignore BUSH FACTS.
can you add that high JL? how about you Captnmoron?
