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Obama: ‘We Got Back Every Dime’ of Bailout; CBO: Bailout Will Lose $24 Billion
Which of course is reflected in the drop by 700 billion in the deficit. Oh, wait! The deficit still went up. So if all this money was retrieved, where did it go? Or is this just another example of Obama math and mythology? He say it so it must be true? Hardly.
I've been saying this all along.
Bushs deficits was artificially high by $700B, and Obamas artificially low because Bush borrowed, and Obama received.
The fact that Obama still has a $5T deficit, on top of the $700B, is astounding..
"President Barack Obama said on Thursday that “we got back every dime we used to rescue the financial system."
According to the Congressional Budget Office, however, the government will lose about $24 billion on the bailout."
"The Congressional Budget Office--based on figures from Obama’s own Office of Management and Budget---gives a different assessment."
"In fact, CBO reported that as of now $65 billion in TARP funds remain outstanding."
More lies.
Even if the government recoup all, it is still a loss.
They get the money at near 0% interest, and turn around and buy treasury that give 2 to 3%. That's spread is pure profit. I wish government can lend me a few billions at 0% so I can buy treasury that pay 2 to 3% interest rate. The cost to me, 0. Profile, 300%
Obama: ‘We Got Back Every Dime’ of Bailout; CBO: Bailout Will Lose $24 Billion
Which of course is reflected in the drop by 700 billion in the deficit. Oh, wait! The deficit still went up. So if all this money was retrieved, where did it go? Or is this just another example of Obama math and mythology? He say it so it must be true? Hardly.
Thank you. Nice to know someone is paying attention. As for the rest of the class ... summer school!!!
First of all, this crap about 800 Billion in TARP and 24 Billion lost, is nothing more than drooling, imbecilic, propaganda nonsense presented for consumption by knuckle draggers. The limited audit of the FED as a product of the Frank/Dodd legislation uncovered 16 Trillion of "off book" (read: the secrete undisclosed and greatest financial heist ever committed in human history) transfers to foreign and domestic banks by these criminal gangsters. Here's the freaking mother fracking list:
Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
And this is what a "limited" audit revealed, and is likely to be just the tip of the iceberg. This list shows that almost 3 Trillion was given directly to foreign owned banks ... while the rest might appear to be American Financial institutions, the reality is, they too are foreign owned, in that they are transnational corporations heavily invested in by foreign interests. All of that 16+ Trillion was pilfered in JUST THREE YEARS - 2007-2010.
So, in the greater scheme of things, what does this really mean? It means that EVERYTHING you are being told is a bold faced lie of EPIC PROPORTIONS. This secret theft was actually equal to the total National Debt ... rendering these political arguments about annual deficit reduction to be pure political rhetoric and slight of hand diversion.
So too is all of the wrangling and clinching of teeth over social financial obligations like Social Security, Medicare, Welfare and unemployment ... all of it = Total Fraud.
What this actually tells us is that the 16 Trillion National Debt, plus the 16 Trillion secret undisclosed theft means that these criminals have stolen 32 Trillion from the American people (and that is just the money we know about ... you can bet there is much more that we don't know about). So the very idea that it is "we the people" who are responsible for the financial shortfalls because of all of the money government has to pay out to us in social benefits is PREPOSTEROUS NONSENSE.
They are stealing 90 cents of every dollar that they claim to be giving us, while blaming us for the shortfalls, and suggesting that they need to raise taxes and cut benefits .... like reducing social security payments and medicare benefits to granny.
It's total insanity and this means that the American People have collectively become the dumbest people ever to breathe air, in all of human history.
Wait till the unemployment numbers get "refreshed" after November from a 7.8% in September upwards to over 8.0%. Tell the truth, like the Federal government demands of the taxpayers. And that reminds me of the twentith amendment:
The terms of the President and Vice President shall end at noon on the 20th day of January.....
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