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GOP predicts doomsday if Obama budget passed

March 23rd, 2009 . by TexasFred

GOP predicts doomsday if Obama budget passed

WASHINGTON (AP) – Congressional Republicans on Sunday predicted a doomsday scenario of crushing debt and eventual federal bankruptcy if President Barack Obama’s massive spending blueprint wins passage.

But a White House adviser dismissed the negative assessments, saying she is “incredibly confident” that the president’s policies will “do the job” for the economy.

In a TV interview, Obama himself laughed when discussing the dire state of parts of the economy – and ascribed his laughter to “gallows humor.”

White House Council of Economic Advisers chairwoman Christina Romer insisted that the nation’s flailing economy will be rebounding by 2010.

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GOP predicts doomsday if Obama budget passed

‘Congressional Republicans on Sunday predicted a doomsday scenario of crushing debt and eventual federal bankruptcy if President Barack Obama’s massive spending blueprint wins passage’, I am pretty well convinced that this IS the plan from Obama and Company.

Obama and his herd of hooligans are letting their mouths write checks they they expect OUR asses to cash, ours, our kids, their kids, their kids kids, into infinity. You don’t just print more paper and call it money, it’s NOT money, it’s paper and it’s damned near worthless. but the Obamessiah doesn’t know that apparently. His little lap dog Timmy Geithner has NO clue, he still thinks it just a *print some more thing* I believe.

Who can possibly believe that this bullshit The Obamessiah is handing out can work? For crying out loud, it just keeps on getting worse with ever news cycle, Treasury’s toxic asset plan could cost $1 trillion. Many people can’t comprehend a million dollars, once it gets to billions and trillions the comprehension level decreases appreciably. To give you an example that most folks really can grasp, $1 million will buy you 7 very nice 18 wheelers, most of the bells and whistles and the 1st tank of fuel for each rig. Folks just can’t grasp how much money that really is when it hits BILLIONS. The *pay back* is really out of their reach. I am convinced that Obama, and quite likely every dumbass that works for him can’t even comprehend what they are doing, and have already done, to this nation.

Little Timmy Geithner looks like he’s lost every time you see him, 1st he doesn’t know about the AIG bonuses, then he DID know, he was seriously messed up on his own tax filing and HE is the guy that’s supposed to inspire confidence in the Obamessiah Money Plan? He’s the head of the treasury? God help us ALL!

America is being raped and pillaged by the Obama administration and ALL of his minions, and before the libber-pukes have a cow, I know, Obama didn’t put this catastrophe into play, but he IS making it even worse, and he’s doing it so fast, with so much shuck and jive, I honestly don’t know if he thinks we won’t notice or if he’s just playing it so loose that even he has no idea of what to do next!


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Treasury rolls out revamped bank rescue plan

February 10th, 2009 . by TexasFred

$50 billion in federal rescue funds set aside to stem home foreclosures

WASHINGTON – The U.S. Treasury Tuesday unveiled a revamped financial rescue plan Tuesday morning to cleanse $500 billion in spoiled assets from banks’ books and support $1 trillion in new lending through an expanded Federal Reserve program.

The renamed “Financial Stability Plan,” rolled out by Treasury Secretary Timothy Geithner at the U.S. Treasury, will also devote $50 billion in federal rescue funds to try to stem home foreclosures and soften the crushing impact of the deep housing crisis now afflicting the entire economy.

The Treasury said a public-private investment fund will be established, seeded with government money, to leverage private capital so that so-called toxic assets can be sponged out of the faltering banking system. The hope is that that will enable banks to resume lending.

The public-private investment fund would start at $500 billion but could expand to up to $1 trillion in financing capacity, Geithner said in a speech.

Full Story Here:
Treasury rolls out revamped bank rescue plan

We can’t BAIL OUT the very people that put us IN this financial crisis. We can’t just SPEND our way out of this crisis by dumping a trillion dollars on it. Wall Street, the Banks, auto makers, all of these people have already shown us that they have NO idea regarding the management of their own businesses, WHY in the hell are we giving them billions upon billions MORE money to squander?


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Senate panel approves Geithner for treasury post

January 22nd, 2009 . by TexasFred

Senate panel approves Geithner for treasury post

WASHINGTON (AP) – The Senate Finance Committee has cleared the nomination of Timothy Geithner as treasury secretary despite unhappiness over his mistakes in paying his taxes. The committee approved the nomination on an 18-5 vote, sending it to the full Senate. President Barack Obama is hoping for quick approval so that the point man for the administration’s economic rescue effort can begin work.

The committee vote came a day after Geithner appeared before the panel to apologize for what he called “careless mistakes” in failing to pay $34,000 in taxes earlier in the decade, when he worked at the International Monetary Fund.

Geithner paid the back taxes plus interest for the years 2003 and 2004 after being audited by the Internal Revenue Service. But he did not pay taxes he owed for 2001 and 2002, even though he had made the same mistakes for those years, until shortly before he was nominated by Obama last November to be treasury secretary.

The nomination was expected to win approval by the full Senate, with many lawmakers saying that given the serious economic crisis facing the country, the new president deserved to have the services of a man of Geithner’s abilities and experience.

Full Story Here:
Senate panel approves Geithner for treasury post

During the Bush administration there were many on the left/libber side of the aisle that called Pres. Bush’s efforts ‘the fleecing of America’. Ladies and Gentlemen, I submit to you that we have not yet begun to witness the fleecing of America, not in the manner we are about to see under the Obama administration!

Placing Tim Geithner at the head of the Treasury is like giving the fox a key to the hen house, as I said yesterday, akin to making Keith Richards the head of the DEA, nothing good can come of this. I don’t say that off the cuff. Geithner is a tax cheat, by ANY definition! He didn’t get arrested, he didn’t go to prison, he wasn’t even charged, but he is, by his own admission, a tax cheat. I wonder just how smart the guy really is too. He used a popular on-line tax program and he made serious errors and oversights. Is he the best person that Obama could find to run the Dept. of the Treasury?

Geithner has been the head of the Federal Reserve Bank of New York for the past six years and was a key participant in decisions made by the Bush administration to deal with the worst financial crisis to hit the country since the Great Depression.

Wait a minute!! Wasn’t the big slogan of Obama and Company *CHANGE*? If Geithner was ‘a key participant in decisions made by the Bush administration to deal with the worst financial crisis to hit the country since the Great Depression’, and given that the financial situation of this nation has gone from bad to worse, is Geithner the *CHANGE* the Treasury needs? Is the decision making ability of the Obama administration what this nation needs?

I think the answer to those questions is rather obvious to Conservatives. Of course Democrats, libbers, assorted leftists and supporters of Hamas and al-Qaeda won’t think so, but to any REAL, red-blooded American the answers are as plain as the nose on your face. Obama has made his 1st ‘most grievous’ error, and I am sure that this will NOT be the last. Hillary as Sec. of State, the closing of Guantanamo, hell folks, this is just the opening act!


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