. . . why does his team appear to be so eager to “repaid TARP funds for a new job-creation program“:
The Obama administration will lose $200 billion less than expected from the federal bailout program and is looking at using part of the savings to fund new job creation efforts.
A Treasury official said that the administration now believes the cost of the financial rescue program will be at least $200 billion below the $341 billion estimate it made in August.
Um, fellas at the AP, it’s now the Obama Administration that will lose $200 million less, it’s the federal treasury which will be spared the loss. But, then again maybe our friends at the AP have become so enamored with Mr. Obama that they can’t separate the two.
Hey, the anticipated partial payment of 200Billion isn’t all back in the Treasury’s coffers yet, so no one in DC needs to tout how successful repayment of TARP funds has been. Sadly, if Congress and this administration have anything to say, Geithner won’t have time to run a counterfeit test on a single bill before it’s doled out to score points before Nov. 2010 . Clearly the Obama/Pelosi version of deficit reduction will be accomplished by squeezing even more blood from the now anemic tax-payer………. and we thought blood suckers were found only on the silver screen.
I watched a television show on how China is being swallowed up by their growing deserts. It is quite true and the Beijing Boys are panicked over it, as they should be. They really do not have a solution and the sands keep growing and blowing and tearing their way toward the heart of the country. This is largely a man made phenomenon that was actively accelerated through the indifference and ignorance of the Mao years. Now they reap what they have sown.
The Democrats have no game plan for stopping the deficits that will eat the economy of the United States. They are dedicated to socialist spending until the last penny has been divided. Soon, Japan and China will stop funding the US debt and our wrecked economy will take a major hit with sky-rocketing costs for food, fuel, electricity, transportation and housing. There is still a depression lurking out there and the Democrats will fight it with paving roads and building interchanges and feeding the wants lists of fat cat party donors. Meanwhile, restaurants will close and faceless cooks, wait staff, and dish washers will join the unemployed.
Where there is a will, there is a way. No way will the liberals cut taxes or seed small business.
No small business person has any idea of what government imposed costs he will face next year. His butt cheeks are clenched tight and he is doing everything he can to cut costs and keep solvent. That is because he has to face “change” and he can’t rely on “hope.”
Yesterday, my dentist of more than 30 years called to offer a discount teeth cleaning. He told me that people are postponing dental care and he is hoping to keep his staff fully employed. Think about it. He is at an age for retirement. He could just chuck the practice and ditch his staff. But, being the cruel conservative that he is, he has chosen to keep the practice going for his dedicated and long serving staff. I wish him all the luck in the world. He is facing economic reality and the boyz inside the beltway are playing stimulus games with his and my and your money.
Obama and this current Democrat congress have absolutely no credibility on deficits.
They have not poured gasoline on the fire, they built a clean energy windmill next it.