A trillion here, a trillion there. Who's counting anyway?
 

Stimulus Battle May Signal Tough Sell for Bank Rescue

Feb. 8 (Bloomberg) -- President Barack Obama?s struggle to push an economic stimulus bill through Congress may seem easy compared to what he?ll encounter when he returns to Capitol Hill for additional funds to rescue the banking system.

Obama will likely need to ask Congress for more money to recapitalize banks, as much as $1 trillion on top of the roughly $300 billion remaining in the current Troubled Asset Relief Program, according to an estimate by former Federal Reserve economist Ward McCarthy. That will be an even tougher sell for the new president than the stimulus plan, which is headed for a Senate vote this week after passing the House with no Republican support.

http://www.bloomberg.com/apps/news?p...ZdQ&refer=home

All they do is just print more ;-) its out of control.....

would you rather have them do nothing? actually they arent being bold enough.

fix.tttt

'They' did not bother counting for 8 years of Bush. Why count now?

Airlines.
Wall Street.
Investment Banks.
New Orleans.
911 Victims.

....and so on.

The only people who seem to be making the media sound bites are the now, all of a sudden, fiscally conservative Republicans. Who for 8 years, 6 of it controlling the Senate, House, and Presidency, ran up one of the worst debts in American history.

Someone has to clean it up, and it's going to cost money.
:disgust

The stimulus bill is outright theft from the American people.

Obama and company will do anything they can to "fix" the problem... except what is really needed.

Pork barrel spending and big government social programs got us into this mess, they won't get us out.

thank you all of a sudden they care.Their true agenda is they need this guy to fail,they really dont care about america at all.

It isn't "8" years. Big government social programs have been around for over 50 years, and they have drained TRILLIONS of dollars and produced generations of parasites. We are now reaping the harvest of those seeds.

Problem would be solved if jobs were stopped from going over sea's and the free trade agreements were adjusted. After that, move into increasing Taxes for American companies that ship jobs off shore and then bring products into the USA for sale.

Other countries in these trade agreements need safer Labor Laws for thier employee's.

aGREED. However I was referring to the current issue that is media sound bites.

the nets creation was funded with government dollars just a fyi

I am gonna go with COnspiracy.

The so Called Depression will go so bad that merging the Canadian and Mexican currency system with American CUrrency system to create a new Amero based currency.



I am pretty sure thats what this is all about, of course alot of people goto suffer possibly die, and do alot of rioting first... Its all part of the game.

People wont be so advasarial to a new currency after all the shit is made to fall to no value infact all the people will be wanting it to happen and with thunderous applause the Americas can magically rebuild itself...

Fact is... A Home is still worth a home, a car is still worth a car but the idea behind the big picture is to make these things seem of near no value first just to fleece little people before the new system. There will be no redistribution of wealth, just the rich getting richer on the blood and bodies of the poor.

You know nothing of economics. Free trade agreements are wonderful because they allow the USA to export low paying jobs and import higher paying skilled jobs. The problem is the unions and the USA laborers are fat and lazy and do not want to upgrade their skills to suit. The unionists have been coddled for so long that they have an entitlement complex. They do not want to be paid on merit, they want to be paid for seniority. They do not want to compete, they want protected markets. And, most amazingly, these same nut cases want to harbor illegal aliens --the very people who take away the unskilled jobs which puts greater pressure on their own core constituency. Real life is far stranger than fiction!

:upsidedow

Uhh Bullshit. Most Americans if they have a job at all now work at McDOnalds or some dipshit payroll dead end job assuming they have a job at all these days. Just last month 300,000 people lost thier jobs in a single month. High Paying jobs are outsourced as well and aside from High Paying jobs they are meaningless to the over all labor worker who will never get that higher paying job.

You cant be serious? LOL!

Ya had me going there for a minute!

Anyways I am still going with The Conspiracy Theory.

Do you ever say anything that isnt scripted by some right wing radio host?

Big spenders and socialists in Congress can do amazing things to wreck an economy, things that even tax cuts and free trade agreements can't fix. I submit the current situation as Exhibit A.

I rarely listen to talk radio. Usually, I follow CNN... and read heavily between the lines.

However, lately my bullshit meter is going off the chart, so I think I am going to have to start watching Fox. I think there is no other way to get the truth. The mainstream media is too biased.

FROM CNN: WASHINGTON - The government safety net designed to protect laid-off workers from financial catastrophe is falling short, leaving nearly half the 11.6 million jobless Americans without unemployment benefits.


11.6 Million without Unemployment Benefits.

Again, there is an over-dependency on government. Government social programs usually inflame problems rather than fix them. Despite 50+ years of social programs, the problems keep getting worse. Why?

While I have great sympathy for these unemployed folks on a human level... it is not the role of government to support the people, it is the role of the people to support the government (Grover Cleveland).

"Tax and Spenders" in Congress gave us this financial problem, let's be very clear about that. It has been building for a very long time. Obama and company are exploiting the tragedy to steal more for their left wing pet causes and their special interests. It is truly criminal.

The way those bank "rescues" are set up is that they'll keep coming back for more. Also, there's the issue of moral hazard here...

DaddyHalbucks wins at the lolz contest.

Here is the problem with that. As third world countries like India start to build emerging economies many of them are training very skilled workers in various fields like engineering. Some of those workers come to the US to get jobs but more and more of them are starting to stay there and work for companies that are getting outsourced worked from US based companies. I have a friend of mine that works for Intel and he is telling me more and more of their engineering and high end, high education type of work is going to their plants in places like the Philippines. They figure why should they pay US based engineers 60K+ a year to do the exact same job equally qualified Engineers in other countries will do for 15K a year.

This country (the US) is creating jobs (or at least it was pre-recession), but most of those jobs are in the lower paying service and retail industries.

fox doesnt have the truth fox has what you want to hear. You really dont listen to talk radio because it sounds like you are reading off their talking points. lol

Uhmm Intel in SIlicon Valley is actually going to close its doors.
So much for those high paying jobs that are supposed to be imported or at least keep some Smart Americans employed LOL...

India Wins! HEOW CON EYE ELP YOOO? Come Agin!

or they need to stop held artificial undervalued currencies to USD like China did for the past 10 years. thats in fact another free trade barrier.

Yes, but since they are buying our treasury bonds to help finance bigger government and to pay for all this stimulus and bailout crap we can not do much about it :2 cents:

I agree with you.

As does Krugman.
http://krugman.blogs.nytimes.com/200...-have-wrought/

The Federal Reserve does not just print up as much as people think they do. All this bailout/stimulus crap is being funded by the bond market for the most part. If we were to just print all this money without selling bonds to finance it things would get nasty fast.

Yes, I would rather they do nothing than do what they are doing now. If you had even a basic understanding of how our economy works and just a high-school level understanding of mathematics you would think the same :2 cents:

Hope that will help for better economy

obama billionare

Yes. Let the banks and the businesses fail. They got themselves into it, they can get themselves out. Any company that can not stay in business without taking out a loan to pay employees etc, should NOT be in business.


I have said this many times. Obama is NOT the SAVIOR, he is a POLITICIAN. And I am willing to bet he is making nearly as much as Bush already from all this.

Bump for Democrat big spenders!

do you realize what happens if they all fail?

You're right, we're in a globally competitive market.

The US can compete successfully, if we get rid of the entitlement mentality and we upgrade our educational system. The biggest problem is the unions.

trillion is pocket change

I'd like a logical explanation as to why unions present "The biggest problem".

I would disagree. Sure unions may be part of the problem but on some things we just can't compete. How can someone who goes to college to become an engineer and racks up 50K+ in debt doing so compete against someone in a third world country with a similar education and the ability to do the job for 10% of what the US based person would make? Sure, there are companies in the US that may hire these US based engineers, but many companies are now outsourcing those jobs as well because they can save a ton of money.

The days of only losing manual labor jobs to third world countries is coming to an end. Countries like India and China are educating their people and they are competing for the higher end jobs. The difference is because the cost of living is so much cheaper in these places (or they have government subsides) they can do the same job for significantly less money.

I agree we need to do something about our education system. We need to make college more affordable and we need to focus more on skills that will help people get good jobs and compete in the workplace, but unless the government does something to help protect these jobs (or at least give some kind of incentives to those companies keeping their jobs in this country) we will see more and more loss of these jobs. Unions are part of the problem, but the global economy and the high cost of living in the US (not to mention the tax burden) all play a major roll in this.

Absolutely, this insanity must stop.

President Obama must stop listening to Nobel Prize winning economists and immediately start listening to the GFY Peanut Gallery and it's leaders onwebcam and DaddyHalbucks.

What the fuck was he thinking anyways?

I just hate it when people put forth solutions!!! Bastards, all of them!
and don't get me started on unions, with their fair wages and weekends, and disability... fucking dicks taking advantage of the wealthy!!

The simple solution: PRINT MORE DOLLARS!

Everyone is an economist now days. :)

Yes, and unions are the biggest problem according to our prominent GFY economist DaddyHalbucks.

I'm just wondering how they're our biggest problem now, when they're only 12% of the workforce, and how the economy managed to not collapse in 1955 when they were 1/3 of our work force?