tag:blogger.com,1999:blog-5688592897163585128.post3237634671050211071..comments2023-07-01T14:32:28.448-05:00Comments on The View From Mid-America: Are politicians stuck on stupid?Stevehttp://www.blogger.com/profile/13381253392008428899noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5688592897163585128.post-24117208876292726442010-08-11T13:37:53.478-05:002010-08-11T13:37:53.478-05:00Check out Paul Ryan, a a Republican congressman fr...Check out Paul Ryan, a a Republican congressman from Wisconsin. Some of his ideas may work. But you'd think the Republican National Committee would come out with a platform of ideas for reform, but all I've heard or read is more blah, blah, blah...which seems to afflict most of our politicians today.Stevehttps://www.blogger.com/profile/13381253392008428899noreply@blogger.comtag:blogger.com,1999:blog-5688592897163585128.post-48586333950326559372010-08-11T13:10:10.037-05:002010-08-11T13:10:10.037-05:00It is hard to argue the fact that the economy was ...It is hard to argue the fact that the economy was crashing as Obama took office. Am not saying that Obama has done a good job, but he inherited a monumental mess that I don't think anyone could fix. Who knows how bad it would be if he would have just let it crash, but the more I think about it, that's probably what needs to happen. Sure haven't heard any good ideas for a 'fix' from the loyal opposition.Fam Guyhttps://www.blogger.com/profile/11449196464758832695noreply@blogger.comtag:blogger.com,1999:blog-5688592897163585128.post-70689115362719505552010-08-11T12:22:42.052-05:002010-08-11T12:22:42.052-05:00I did not ignore the gist of your message. But the...I did not ignore the gist of your message. But the statement that Bush wrote over $800 billion in checks before he left town is not correct. <br /><br />According most sources, by Feb. 9, 2009, $296 billion had been used. That increased to about $384 billion during 2009, after Bush left town. <br /><br />As of June of this year, according to the Treasury Dept, $194 billion had been repaid.<br /><br />Congress authorized the Treasury up to $700 billion, but all of it was not used. <br /><br />Where is the confusion here?Stevehttps://www.blogger.com/profile/13381253392008428899noreply@blogger.comtag:blogger.com,1999:blog-5688592897163585128.post-44143022285444429362010-08-11T11:42:34.823-05:002010-08-11T11:42:34.823-05:00I said Bush wrote over $800 billion in checks to k...I said Bush wrote over $800 billion in checks to keep us afloat til he left town. True or not? You conveniently ignored the entire gist of my message.Fam Guyhttps://www.blogger.com/profile/11449196464758832695noreply@blogger.comtag:blogger.com,1999:blog-5688592897163585128.post-80092019485689507122010-08-11T10:58:05.196-05:002010-08-11T10:58:05.196-05:00Are you talking about TARP? If so, then you need t...Are you talking about TARP? If so, then you need to do a little research. It seems this program will not cost us $700 billion (the original figure), but will be much smaller.<br /><br />A quick search on google came up with this article from June:<br /><br />The Troubled Asset Relief Program (TARP) — the $700bn federal bailout of Wall Street firms and subsidization of Main Street mortgage modifications — is not only projected to cost less than original forecast, but recently passed a program milestone.<br /><br />The volume of funds repaid into TARP from financial firms that received capital boosts now exceeds the volume of funds outstanding, the US Treasury Department said in its May report to Congress.<br /><br />Treasury noted in the April update on TARP that it expects to spend less than $550bn of the $700bn authorized for the program, and expects to recover all but $117bn — an estimate that was subsequently revised to $105.4bn.<br /><br />Of $384bn in total TARP disbursements, more than half — or $194bn — was repaid through May, leaving only $190bn outstanding. The sale of 1.5bn shares of Citigroup (C: 3.90 -2.50%) pushed the repayments past outstandings for the first time in TARP's history.<br /><br />So to claim that Bush added $800 billion to the deficit is just simply not true.<br /><br />Now, I could expect Congress to spend the money allocated to the program on something else...I wouldn't put it past them.Stevehttps://www.blogger.com/profile/13381253392008428899noreply@blogger.comtag:blogger.com,1999:blog-5688592897163585128.post-68255612014663356742010-08-10T13:52:43.563-05:002010-08-10T13:52:43.563-05:00It is hard to argue the fact that the economy was ...It is hard to argue the fact that the economy was crashing as Obama took office, after Bush had just written over $800 billion in checks to keep us afloat til he left town. Am not saying that Obama has done a good job, but he inherited a monumental mess that I don't think anyone could fix. Who knows how bad it would be if he would have just let it crash, but the more I think about it, that's probably what needs to happen. Sure haven't heard any good ideas for a 'fix' from the loyal opposition.Fam Guyhttps://www.blogger.com/profile/11449196464758832695noreply@blogger.com