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So rather than thinking for yourself, looking at the IRS website which says they are NOT subsidies, you want to continue to repeat the same old Democratic talking points which are LYING to you, by calling business expenses, subsidies.
Tell me what is your qualifications where you think you know more than the IRS about the american tax code system?
With all due respect the IRS doesn't know it very well either. Reason # 847 to get rid of the IRS.
ALL those TARP payout were made within the FY 2009 budget cycle.... A total of $388 BILLION was OUTSTANDING at the end of FY 2009.
You are wrong to say that these TARP payments were made under FY 2008 budget authority.
Quote:
Originally Posted by pghquest
ooh good, you are catching on..
Yes, Obama inherited TARP, but by that time, it was money coming INTO the budget, which included the "profits" from TARP, not out. The TARP expense came out of the 2008 deficits, and the repayment has actually lowered Obamas "deficits" through 2009, 2010, and 2011, which really makes his deficits rather pathetic
JP Morgan bailout, Oct 08
Wells Fargo, Oct 08
GS bailout, Oct 08
Citigroup bailout, Oct 08 and Jan 09
Morgan Stanley, actually repaid theirs June 09... (which lowered 2009 deficits, not raised them)
PNC, Feb 2010, repaid (which lowered the 2010 deficits as well)
You get the picture
p.s. I dont care who's going to beat Obama in 2012.. Obama can actually keep the White House.. we'll hold onto the House and stop the government from doing anymore damage, allowing the economy to recovery like it should have happened from day 1
With all due respect the IRS doesn't know it very well either. Reason # 847 to get rid of the IRS.
No politician will ever actually, seriously pursue doing away with the IRS. After everyone who makes a living or partial living off the IRS is counted the total is probably a quarter million.
I made it red to show you the news from the congress' references. They are subsidies and they are part of a break that was never intended for domestic oil companies. Politicians who need millions for re election gave it to them and now they refuse to cut them off...I wonder why?
And I quoted the IRS which says they arent subsidies, but NORMAL business expenses.. and yet you continue to embarass yourself by calling them something that they arent.
WRONG, the house passed the Appropriation Bills, it was the Senate (Not in the house, like you implied), because of filibusters by the GOP Senators, that didn't act on those bills. Those appropriation bills was bottled up by a minority of Senators.
So I guess you join me in condemning those GOP senators that didn't do their jobs???? Didn't think so. As the leader of the GOP I guess Bush could have told the GOP Senators to do their jobs, and therefore you could still blame Bush for preventing the Appropriation bill from getting to his desk.
Quote:
Originally Posted by pghquest
BZZZ read the constitution so I can stop embarassing you..
CONGRESS writes the budgets.. and Bush cant sign one until CONGRESS GIVES IT TO HIM... Your right, running away from your job doesnt absolve you from blame.. So when are you going to criticize the state reps that ran from their job, or the Democrat Congress that didnt write the bill? I get it.. ITS ALL BUSHS FAULT Democrats didnt do their job..
Good little Democrat, you got those 4 little words down pact and dont mind repeating them no matter how much you are laughed it..
OK "EXPERT", you'd be WRONG again, the $388 Billion is the NET TARP funds outstanding on Sept 30, 2009. Doesn't matter what was returned, the $388 Billion figure includes the returned funds.
And WRONG again, ANY outlay is immediately added to the national debt, unless it is taken from a cash bearing account.
WOW, two wrongs in one sentence....
Quote:
Originally Posted by pghquest
Congragulations, you finally got one.. almost..
TARP returned a profit to the taxpayers, and thus did not add to the national debt...
you really should act like you know everything, you don't.
WRONG, the house passed the Appropriation Bills, it was the Senate (Not in the house, like you implied), because of filibusters by the GOP Senators, that didn't act on those bills. Those appropriation bills was bottled up by a minority of Senators.
So I guess you join me in condemning those GOP senators that didn't do their jobs???? Didn't think so. As the leader of the GOP I guess Bush could have told the GOP Senators to do their jobs, and therefore you could still blame Bush for preventing the Appropriation bill from getting to his desk.
I've never met someone who's flip flopped so many times, all on the same thread, your arguments have gone from
1) Bush signed the budget, which turned out to be false because one was never given to him.
2) Then you claim that budgets were given to Bush, but he sat on it, but what you linked to, wasnt a budget, but a budget resolutsions that presidents dont sign.
3) Now the GOP blocked the appropriation bill, and you are wrong yet again because they were never even introducted in the House.
4) Appropration bills for 2009 were indeed signed into law by Bush, 2642, 2638, the ONLY TWO appropriation bills for 2009 that passed Congress, were BOTH signed by Bush. The other ones, werent submitted to be signed by the president, until well after Bush had left office.
5) And finally, 3261, 3288, 3230, 3289, are ALL bills that passed the House, but did NOT pass the Senate and considering the Constitution says ALL spending bills must originate in the House. Thats how it works. And the Senate, and the House, were BOTH DEMOCRATICALLY CONTROLLED..
And finally, to further embarass you, APPROPRIATION BILLS ARE NOT NATIONAL BUDGET BILLS
OK "EXPERT", you'd be WRONG again, the $388 Billion is the NET TARP funds outstanding on Sept 30, 2009. Doesn't matter what was returned, the $388 Billion figure includes the returned funds.
And WRONG again, ANY outlay is immediately added to the national debt, unless it is taken from a cash bearing account.
WOW, two wrongs in one sentence.... you really should act like you know everything, you don't.
Haha, September 30th 2009? I dont knwo what period of time you live in, but I'm about 20 months ahead of you it seems..
And since you acknoledge that all outlay is added to the national debt, (which isnt actually accurate either, since its actually all borrowed money is added, not outlayed money), want to tell me how much the stimulus bill added to the national debt? You know, that $800B+ bill written, and signed into law by Obama, but you want to claim is Bushs debt..
Quote:
Originally Posted by florida.bob
The act that created TARP required it to be paid back.
Yes, which means it didnt add to the national debt like Democrats are claiming. To follow along, TARP, per the other posters, is responsible for Obamas increase in the debt, which isnt true. Obama is getting the benefits of "profits" from TARP, which actually is lowering his astronomical debt..
Last edited by pghquest; 05-20-2011 at 10:54 AM..
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