Posted on 04/18/2011 7:51:57 AM PDT by Alaphiah123
You probably missed the presidents admission that he did something terribly wrong. Just when we were beginning to think that, the sole purpose of Barry Hussein Soetoros existence was to correct all of Bushs mistakes, Americas mistakes, the Constitutions mistakes and the founding fathers mistakes the president revealed that he has made a mistake too. You who blindly support the president were probably too busy defending against Donald Trumps legitimate questions about the presidents constitutional illegitimacy to notice so Ill catch you up. (see story)
President Barry Hussein Soetoro has admitted that while he was a Senator he was an ideological opportunistic partisan hack who didnt know what he was doing other than he was opposing a sitting president. But, you probably missed that admission didnt you?
Soetoro said that his opposition was based purely on the grounds that president Bush was a Republican. And it was Soetoros default position to oppose everything from the opposite Party including and especially if what the opposite Party was doing, was the right thing.
(Excerpt) Read more at creatingorwellianworld-view-alaphiah.blogspot.com ...
Obamas Deficit Avalanche isnt Bushs Fault / scottuystarnes.com / 2/9/2010
SOURCE http://scottystarnes.files.wordpress.com/2010/02/obama-deficit.jpg?w=400&h=308
Washington Times reports: Even more staggering than the mountains of snow in the capital are the deficits the Obama administration plans for the next decade. Huge spending increases will add about $12 trillion to the national debt for budget years 2009 to 2020.
The scariest part is that these deficits are based on unrealistic budgeting assumptions; the real fiscal outlook is much bleaker. In the proposed 2011 budget, the White House defensively attacks the irresponsibility of past deficits.
For example, the 2009 budget deficit of $1.4 trillion is blamed on the George W. Bush administration as if President Obamas $862 billion stimulus package and more than $400 billion supplemental spending bill had nothing to do with it. Mr. Obamas planned 2010 budget deficit rises to an even higher record level of $1.6 trillion.
By comparison, all of Mr. Bushs deficits from 2002 to 2008 the seven years during which his team had the most control over the budget produced a combined deficit of $2.1 trillion.
Obama has spent more in 2 years than Bush did in 7 years. Obamas BIOB (Blame it on Bush) defense just wont work anymore.
This from a president who can't form a cogent sentence without a teleprompter, let alone have an economic idea that would actually help the country.
Liz you are da bomb! Thanks for that. My lips curled up into a smile when I saw your timely and accurate reply.
This bunch is soooo radically partisan that if a Republican had the immediate answer to all of the U.S.’s problems that would bad mouth both the idea and the Republican.
Glad you liked it.
A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street.
The price tag for the Wall Street bailout is often put at $700 billionthe size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets. To get a sense of the size of the real $14 trillion bailout, see our chart here. Below, a guide to the pieces of the puzzle:
Treasury Department bailout programs (controlled by Rahm Emanuel)
Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokeragesas much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid. Government-sponsored enterprise (GSE) stock purchase: The Treasury has bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets." GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion [PDF].
--SNIP--- long read
Federal Reserve bailout programs
Commercial Paper Funding Facility: With the support from the Treasury, the Fed established the CPFF in October 2008 to increase the availability of short-term debt (commercial paper) funding. Up to $1.8 trillion [PDF] was earmarked for the program.
Mortgage-backed securities purchase: In 2009, the Fed earmarked up to $1.25 trillion to buy investments based on home loans.
Term Asset-Backed Securities Loan Facility: TALF provides financing to investors who are buying asset-backed securities. In February 2009, the Fed and Treasury announced an expansion of the program to generate up to $1 trillion in new lending.
Foreign Central Bank Currency Liquidity Swaps: The Fed has provided $755 billion [PDF] for currency liquidity swaps with foreign central banks.
--SNIP--- long read
Bookmark
Revealed .. one more faction of the Enemy Within Our Own Borders and Gubamint.
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