Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In fact, GM says it will have the whole thing repaid by the end of the summer.
No, that's fiction. At best, it's intentional deception.
Quote:
Uncle Sam gave GM $49.5 billion last summer in aid to finance its bankruptcy. ... So when Mr. Whitacre publishes a column with the headline, "The GM Bailout: Paid Back in Full," most ordinary mortals unfamiliar with bailout minutia would assume that he is alluding to the entire $49.5 billion. That, however, is far from the case.
Because a loan of such a huge amount would have been politically controversial, the Obama administration handed GM only $6.7 billion as a pure loan.
...
But when Mr. Whitacre says GM has paid back the bailout money in full, he means not the entire $49.5 billion--the loan and the equity. In fact, he avoids all mention of that figure in his column. He means only the $6.7 billion loan amount.
Still short $42.8 BILLION. They're also not even breaking even yet - much less into the black.
GM should have been permitted to go bankrupt. Right now, and for the foreseeable future, they're doing nothing more than siphoning taxpayer dollars from YOUR pocket to the unions.
The triad of gluttony? Wow, the endless back and forth between those who feel the Dems or Republicans are somehow interested in their general welfare is evidence enough that most American's have taken the bait, now they are free to pursue the debate to some unbelievable lows in demonstrable political ignorance.
To have the history in print of our government being the serf of corporate overlords has obviously been of little value to those who would rather engage in argument for it's own sake than to make an honest attempt to understand the long standing political dynamic that puts the power in the hands of the wealthiest American's and not the government. I can't wait for the next election wherein the Republican's will probably get a chance to come back to bat, it's only then when the proles see their fortunes continue to fall that some will finally recognize the ruse, Democrat, Republican, choose your poison.............
Glad I don't fit into that category, for I seek nothing from the government, save for the basics set forth in the USC. No welfare, no food stamps, or cards, no public housing, nothing. Just leave my freedom unmolested, tax the minimum necessary, do the basics and then shut up already.
Sorry to hear YOUR fortunes are falling, mine are not, thank you very much.
By "proles" I assume you mean the lower class of Waterville or whatever Orwell called it.
The bailout and economic stimulus packages were demonized by the GOP from the start. But guess what? The economy is coming out of its steep economic slump. GNP figures are up. Many of the companies that received "bailout loans" are paying them back. In fact, GM says it will have the whole thing repaid by the end of the summer. Production of durable goods is up. The deficit looks awful, but the numbers lately are better than they were a few months ago. It is likely that unemployment will begin a long, slow decline shortly. In a year, the economy will still look like a sick man, but one that is recovering from his illness.Complain all you want tea-partiers. We'd have 20% unemployment today instead of 9.7% unemployment if there had not been swift and decisive action from our Presidents (plural because both Bush and Obama are responsible for these policies) and Congress.NOW JUST WATCH.....Once this economy begins recovering and we need to start bringing our budget deficits under control the most conservative groups in this country will start blabbering about how much we all need a tax cut. FTR, once recovery is underway a tax cut is the very last thing we need. America needs to focus on getting these record deficits under control. When Bill Clinton was President we ran budget surpluses for 5 of the eight years he was President. Remember, when it happens that I told you so.....
OK Nostradamus: lemme get this straight. Your big, fearless prediction is that the GOP will soon scream for tax cuts? LOL--they ALWAYS do that, regardless if the economy is in the tank or is robust. What are you gonna predict next, that the Dems will try and uphold Roe vs. Wade?
The bailout and economic stimulus packages were demonized by the GOP from the start. But guess what? The economy is coming out of its steep economic slump. GNP figures are up. Many of the companies that received "bailout loans" are paying them back. In fact, GM says it will have the whole thing repaid by the end of the summer. Production of durable goods is up. The deficit looks awful, but the numbers lately are better than they were a few months ago. It is likely that unemployment will begin a long, slow decline shortly. In a year, the economy will still look like a sick man, but one that is recovering from his illness.Complain all you want tea-partiers. We'd have 20% unemployment today instead of 9.7% unemployment if there had not been swift and decisive action from our Presidents (plural because both Bush and Obama are responsible for these policies) and Congress.NOW JUST WATCH.....Once this economy begins recovering and we need to start bringing our budget deficits under control the most conservative groups in this country will start blabbering about how much we all need a tax cut. FTR, once recovery is underway a tax cut is the very last thing we need. America needs to focus on getting these record deficits under control. When Bill Clinton was President we ran budget surpluses for 5 of the eight years he was President. Remember, when it happens that I told you so.....
Ahhh, words like that are music to my ears. If more people start thinking like that, the world will be out of financial crisis in no time.
The bailout and economic stimulus packages were demonized by the GOP from the start. But guess what? The economy is coming out of its steep economic slump. GNP figures are up. Many of the companies that received "bailout loans" are paying them back. In fact, GM says it will have the whole thing repaid by the end of the summer. Production of durable goods is up. The deficit looks awful, but the numbers lately are better than they were a few months ago. It is likely that unemployment will begin a long, slow decline shortly. In a year, the economy will still look like a sick man, but one that is recovering from his illness.Complain all you want tea-partiers. We'd have 20% unemployment today instead of 9.7% unemployment if there had not been swift and decisive action from our Presidents (plural because both Bush and Obama are responsible for these policies) and Congress.NOW JUST WATCH.....Once this economy begins recovering and we need to start bringing our budget deficits under control the most conservative groups in this country will start blabbering about how much we all need a tax cut. FTR, once recovery is underway a tax cut is the very last thing we need. America needs to focus on getting these record deficits under control. When Bill Clinton was President we ran budget surpluses for 5 of the eight years he was President. Remember, when it happens that I told you so.....
Progress is an illusion created by experiencing the benefit before experiencing the cost. Don't be fooled by the lag.
Positive and optimistic attitude of the American people will do you guys (and the world) more good than your b*tching and pissimistic whining about how the government/the economy/whatever messed you up.
Positive and optimistic attitude of the American people will do you guys (and the world) more good than your b*tching and pissimistic whining about how the government/the economy/whatever messed you up.
You want to see people who have been done a world of good by a positive and optimistic attitude? Go to the race track.
After World War II, all the world’s major economies were destroyed…..except that of the United States of America. This misfortune was America’s fortune as it catapulted the US into being the world’s largest net exporter and the world’s largest creditor. This transferred tremendous amounts of dollars and wealth from other places into the US. Those dollars and the demand for US goods and services rapidly increased the American standard of living. Fast forward to today and we are in the exact opposite position. We are now dubiously the world’s leading net importer (we import way more than we export) as well as being the world’s largest debtor nation.
It should be painfully obvious that the conditions that lead to the increase in our standard of living have now reversed. If the condition that increased our standard of living has reversed, then so will our standard of living. This is not rocket science. People are missing the ball here. There can be no true “Recovery”, while continually increasing trade deficits and total debt. Those two things suck wealth, income and opportunity from nations. What it takes to get it is what it takes to keep it. People are looking at the wrong data. The economic health of this nation is not, any longer, measured by its Gross Domestic Product (GDP). As a side note, Gross National Product (GNP) is an outdated metric and term. What we have now is Gross Government Product (GGP), as government deficit spending, and not the private sector, is stimulating consumption. That is not only unsustainable, but it will make the moment of reckoning worse.
The problem is the cure and the solution is the problem. If you are a drug addict on heroin and for some reason you cannot get your fix, you will go through a very painful withdrawal. The process of withdrawal leads to true recovery from the addiction. When withdrawal becomes too much to bear taking more drugs can get you back on your feet, but you have not recovered from your real problem. America’s heroin is DEBT. We can talk about credit default swaps and subprime but the hides the real problem. All those things were made possible by easy credit, which was made easy by low interest rates set by the FED to stimulate economic growth and to stimulate Wall Street (which is addicted to low interest rates to promote a Bull Market) and to lower the value of the dollar in order to try to stimulate exports. So the recession is actually the withdrawal pains from an addiction to credit, so the recession is the true cure and path to recovery.
The problem is that PAIN causes incumbent politicians and Political Parties to lose power. If a nation is in pain it will jettison its leaders to punish them and or to bring in someone who will make them feel good again. Therefore, what do politicians do, they give the nation more dope and then people start feeling better, while their true condition is actually getting worse.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
