Stay strong!

I told him Obama has actually cut the budget.

Cliff,
Define “cut the budget” for me please.
And please refer to the following numbers in your answer:
2008 = $2.983T
2009 = $3.518T
2010E = $3.721T
2011E = $3.834T

You are making the uniformed Right Winger look smart by comparison.

Cliff,
The LYING, LIAR who LIES #3:

almost all of TARP has been paid back and will likely result in a profit for the Fed.

In truth:

Washington’s economists contend that taxpayers should get most of that money back, except for about $50 billion to $60 billion. But, in reality, this is only the tip of iceberg. According to Bloomberg News reporters Mark Pittman and Bob Ivry, when all the special deals are tallied, the true costs come in at around $12.8 trillion—$1 trillion short of the U.S. gross domestic product.

This includes $29 billion worth of tax breaks for banks; $168 billion given by the Bush administration as part of a smaller stimulus program; $787 billion handed out by President Obama under his stimulus package; $400 billion for Fannie Mae and Freddie Mac to prop up the mortgage industry; $500 billion released by the FDIC to cover bank failures; plus $300 billion from the Federal Housing Authority to help the troubled housing sector. But this is not all that was offered to financial firms.

There are trillions more dollars that the privately owned and controlled Federal Reserve has handed out to keep the system afloat. Over the past two years, the Fed has created numerous financial programs, which functioned solely to guarantee risky loans and complicated debt and interest-rate swaps and to back assets that continued to lose their value.

Fed bankers also lowered the discount rate to near zero, handing out free money for bankers to use at their own discretion. They were even making hundreds of billions of dollars worth of loans to foreign central banks.

Of course, the Federal Reserve did not want the soiled masses to know any of this. The Fed arrogantly continues to stonewall the release all of the details to the public—so there may be billions or even trillions of dollars more that we don’t know about.

-American Free Press

Both parties don’t suck equally

True that.

Because the more they talk, the less people like them.

My favorite quote of the day:

There are certain parts of it [the health care bill] we all want to revisit

Now she tells us! So you mean she agrees with the Republicans that it might have been a good idea to take a breath and make sure we got it right before ramming it though with 700 page amendments at 3 o’clock in the morning? Ya think?!

And where did they get the money?
They did get money, got healthy, rewarded themselves richly…and unemployment is stuck at 9%.

It seems, the Fed carried out a program of quantitative easing between March of 2009 and March of 2010 in which
it purchased $1.4 trillion in mortgage-backed securities and $300 billion in Treasuries.

Together with near-zero interest rates, the printing of hundreds of billions of dollars flooded the financial markets with cheap credit, enabling the US banks and big corporations to record bumper profits even as they slashed
jobs and costs and suffered revenue declines.

Noting that the banks paid back that money is not exactly discussing the problem anymore.

Dwight, I’m heartened by your understanding of this (these) issues. May that understanding take great leaps and bounds throughout the citizenry.