Posted on 04/20/2009 10:16:47 PM PDT by Steelfish
Obama Proposes $100 Billion Loan for I.M.F.
WASHINGTON (Reuters) - President Barack Obama Monday proposed a $100 billion U.S. loan to the International Monetary Fund to boost the IMF's war chest and urged a bigger stake in the IMF for emerging powers like China and India.
In a letter sent to Democrat and Republican leaders in the U.S. Congress, Obama said the U.S. funding "does not represent a budgetary expenditure or any increase in the deficit since it effectively represents an exchange of assets."
The letter comes days before world finance leaders gather in Washington on April 24 and 25 for meetings of the IMF and World Bank to discuss among other things IMF lending and governance reforms at the global institutions.
The $100 billion is part of pledges made by Group of 20 member countries during a summit in London on April 2 to combat the worst economic crisis since the Great Depression.
(Excerpt) Read more at nytimes.com ...
Even worse than the automobile bailout. 10 to 20 times worse. Obama is a cancer.
More like a tick...pluck that bugger...and make sure you get that smiling face of his.
So how much money has Obama spent or proposed to spend starting with Bush’s last budget as a baseline including his ‘yes vote’ for TARP 1?
$2.5 trillion and counting?
Maybe I’m just naive, but exactly how does a bankrupt debtor nation, that just committed to spending three TRILLION dollars it doesn’t have, “loan” anybody anything?
We can just print some more.
I love it, though- we go further into debt, so that we can put developing countries in debt, so that politicians and finance guys can line their pockets. Brilliant. See my tagline.
Well, there goes the “savings” from the cabinet meeting this morning.
Big show of saving 100 million this morning by consolidating office supply purchases and having video conferencing, only to spend 100 billion in the afternoon.
$2.5 trillion and counting?
Exactly.
There is so much to be said of his story about his maxed out AMEX and him not knowing it....
He is irresponsible and he is knowingly plundering the nation.
“Maybe I’m just naive, but exactly how does a bankrupt debtor nation, that just committed to spending three TRILLION dollars it doesn’t have, “loan” anybody anything?”
Well, you can start by understanding why the U.S. is not a bankrupt nation, and then move on to facts like the U.S. is a net lender to the world. I’m the furthest thing from an Obama fan, but this in particular doesn’t bother me, and helps us assure a large hand in the reshaping and oversight of the global financial system that _is_ coming, whether I, or you, or anyone else, likes it or not.
Isn't his projected deficit 10 trillion or some staggering number?
Alright! Who’s got the “Not This S*** Again!” graphic!?
More than he could possibly pay for with his book income.
Hey, none of this nitpicking.
We’re going to have the cabinet cut $100 million from the budget! We’re going to buy office supplies in bulk and save $52 million over 10 years!
Damn you people, pay attention.
What I want to know is whether we ALL have to give up the one latte’ per year, or just the cabinet members.
as i read this story tonight, it really has me steamed. i skimp and save, budgeting when i can... and here they go, pushing $100,000,000,000 to the EUROPEANS! that is MY/OUR money. OUR children’s money. wtf!
and i had this thought.
it boils down to.. what can i do? i can go to a meeting and hold a sign and/or call my congress critter (LOL). these people don’t care and find it cute. they have been ignoring what we want for almost 20 years. why would they stop now?
so the option boils down to saying no, and what that means.
holding rallies implies there is wiggle room, somewhere to negotiate. but no... there is nothing.
so i want to say no... no, you can’t have my tax money to hand directly to other countries while i’m eating oodles of noodles to freakin make the ends meet. no, you cannot demand taxes from me under threat of imprisonment while allowing illegal immigrants to take jobs and services, all while paying NO taxes.
screw you
so... my thought was... where do i turn myself in? the irs? my representatives office? police station?
and then i thought... what if all those people that went to the tea parties... what if we all said NO together?
my next thought was... where and when.
thoughts?
you’d be surprised just how well that book sells in iran and venezuela. tens of millions of copies sold.
I hope all the S——ags who voted for this Totalitarian Despot are happy with their choice.
No money for IMF. No More money for Obama to give away.
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