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Old 04-21-2009, 10:25 AM
 
553 posts, read 835,780 times
Reputation: 197

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I mean.... Obama is proposing 100 BILLION to the IMF (besides that, 100 million is a ****ing rounding error)

www.reuters.com/article/politicsNews/idUSTRE53J6NH20090420

Obama proposes $100 billion U.S. loan for IMF

Mon Apr 20, 2009 7:28pm EDT

WASHINGTON (Reuters) - President Barack Obama on Monday proposed a $100 billion U.S. loan to the International Monetary Fund to boost the IMF's resources and urged a bigger stake in the IMF for emerging powers.
In a letter to U.S. congressional leaders, Obama said the U.S. funding "does not represent a budgetary expenditure or any increase in the deficit since it effectively represents an exchange of assets."
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Old 04-21-2009, 10:27 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,716,372 times
Reputation: 3587
It's a loan
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Old 04-21-2009, 10:28 AM
 
Location: Pa
20,300 posts, read 22,184,820 times
Reputation: 6552
We are flat busted broke and he wants to loan more money?
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Old 04-21-2009, 10:45 AM
 
553 posts, read 835,780 times
Reputation: 197
Quote:
Originally Posted by tinman01 View Post
we are flat busted broke and he wants to loan more money?
this
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Old 04-21-2009, 11:04 AM
 
1,156 posts, read 1,389,306 times
Reputation: 139
Obama's budget...
3,500,000,000,000
Obama's "savings"...
100,000,000

In other words
For every $350 spent, he's going to save .01¢.

So go spend $350 somewhere and have the cashier tell you, "Hey, we got some great news. We just saved you .01¢!!" Then come tell me how enthusiastic you were or how relieved you felt if you think Obama's savings is a great thing.

If Obama wanted to save money he would have turned down most of the 9,000 pork projects in the porkulous. He had the opportunity to help America save money but his politics got in the way.
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Old 04-21-2009, 11:05 AM
 
Location: Texas
14,975 posts, read 16,430,439 times
Reputation: 4586
INSANE, INSANE, INSANE.

Let's get some real officials who actually give a damn about US in Congress in 2010 and hopefully in the Oval Office is 2012.
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Old 04-21-2009, 11:49 AM
 
553 posts, read 835,780 times
Reputation: 197

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Old 04-21-2009, 11:51 AM
 
532 posts, read 1,230,028 times
Reputation: 139
so we are going to borrow money from china and give it to other countries. sounds like a good idea.
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Old 04-21-2009, 11:57 AM
 
Location: Chicago Suburbs
3,199 posts, read 4,309,632 times
Reputation: 1176
No biggie, it's just more smoke and mirrors from the master.
SPIN METER: Saving federal money the easy way

Quote:
The thrifty measures Obama ordered for federal agencies are the equivalent of asking a family that spends $60,000 in a year to save $6.

Obama made his push for frugality the subject of his first Cabinet meeting, ensuring it would command the capital's attention. It also set off outbursts of mental math and scribbled calculations as political friend and foe tried to figure out its impact.


The bottom line: Not much.

The president gave his Cabinet 90 days to find $100 million in savings to achieve over time.

For all the trumpeting, the effort raised questions about why Obama set the bar so low, considering that $100 million amounts to:

_Less than one-quarter of the budget increase that Congress awarded to itself.

_4 percent of the military aid the United States sends to Israel.

_Less than half the cost of one F-22 fighter plane.

_7 percent of the federal subsidy for the money-losing Amtrak passenger rail system.
_1/10,000th of the government's operating budgets for Cabinet agencies, excluding the Iraq and Afghan wars and the stimulus bill.

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Old 04-21-2009, 12:00 PM
 
69,368 posts, read 64,001,245 times
Reputation: 9383
Quote:
Originally Posted by KevK View Post
It's a loan
Yes but the question comes into play, where is he getting the money from? He's borrowing money in order to loan it back out.. Obviously Obama not the first president to do so, but I'd really like to see the finances on this one to see how it makes sense to go further into debt.
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