A trillion dollars being spent, 1100 pages
Posted By: sm on 2009-02-14
In Reply to: I'm sorry but I am just really down - sm
and the American people aren't allowed to look at it let alone the house and senate don't get time to read it? WTFrig is that all about?
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Nope up to 1100 pages
The package, according to the CBO will equal $3.27 TRILLION until every thing is said and done.
Small businesses get 1/2 of 1" of incentives.
Our tax cuts will equal $13 for 2009, $8 for 2010.
AmTrak was $850M, yesterday was cut to $800M, last night back up to $900M.
High Speed rail between Los Angeles and Las Vegas is still there. It was $2B, then $0, now $8B from the new package they threw out at 11 p.m. last night.(Pelosi's baby).
Health Care:$1.1B. This includes "research" which justifies denying access to MediCare in illnesses such as cancer, Alzheimer's disease, rheumatoid arthritis, and any other disease they feel are terminal or close to it.
It still diverts funds to controversial and adverse groups such as ACORN. They put it in the Community Redevelopment part.
STD is still in there.
They cut the new home buyers incentive to almost nothing.
There's more. What they did last night was juggle the crap around so it looks different.
A trillion here, a trillion there, why doesn't congress take a pay cut? nm
x
ack....from three little pages up to 451....sm
Anything wrong with this picture???
There are several references to it on 911 info pages.sm
Nothing confirmed by Bruce though. There is a discussion on Netscape, and someone there said they contacted Bruce's rep for a confirmation. There are 2 updates and no information back yet.
It opened fine for me...all 451 pages! nm
//
Check pages 1-7 in archives for samcontrol.
nm
How much is $1 trillion?
Million...billion...trillion. We get so used to hearing these words that they have no meaning. They even sound alike, so we forget how much larger a billion is than a million, and how much larger a trillion is than a billion.
Imagine that you're holding ten $1 bills in your hand. Lay them down on the table one at a time at a rate of $1 per second. 1...2...3...4...etc.
Okay, you've now just spent $10 in ten seconds. To spend $1 trillion at this rate would take you 32,000 years,laying down $1 every second of every day of every week of every year. Spending Obama's $3.75 trillion budget would take you 120,000 years.
Put another way, the first homo sapiens is thought by evolutionists to have appeared about 110-120,000 years ago. Personally, I don't think so, but let's say he did. If Mr. H.S. had discovered a pile of $3.75 trillion lying around, and if he and one of his descendants in every generation since then had spent the money at a rate of $1 per second, his descendant in the year 2009 could have handed the last dollar to Obama.
I've just received this news flash. The search for the H.S. descendant has failed. In his place, American taxpayers will hand our last dollar to Obama instead. Anyone who believes that tax increases are coming only for those who make $250,000 and up are deluding themselves. If nothing else, the prospect of raging inflation lies ahead, and we all pay sales taxes as a percentage of the price of everything we buy, so if the tax bill isn't in your annual return, it will come through the back door, down the chimney or some other way.
Agree with that but where is the other 3 trillion
Obama's social programs will need minimum of 3 trillion MORE to pay for all those government agencies, deep pockets to oversee all those government agencies, and then more government agencies to oversee those government agencies to make sure they are doing what they're supposed to be doing....yea, right, I'm not falling for it.
3.5 trillion dollars and that's a low ball estimate. where will it all come from after he brings our money back from Iraq? No one wants to address that.
He can't get that kind of money from the 5% rich he seems to have so much bitterness towards, so where will it come from?
This is nothing to celebrate, unless another trillion
nm
Or Obama's 3.5 trillion in taxes
xx
Fed Refuses to Disclose Recipients of $2 Trillion
(Okay. Everyone in Congress and the White House, empty your pockets.)
Fed Refuses to Disclose Recipients of $2 Trillion (Update1)
By Mark Pittman
Dec. 12 (Bloomberg) -- The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.
Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression.
The Fed responded Dec. 8, saying it's allowed to withhold internal memos as well as information about trade secrets and commercial information. The institution confirmed that a records search found 231 pages of documents pertaining to some of the requests.
"If they told us what they held, we would know the potential losses that the government may take and that's what they don't want us to know," said Carlos Mendez, a senior managing director at New York-based ICP Capital LLC, which oversees $22 billion in assets.
The Fed stepped into a rescue role that was the original purpose of the Treasury's $700 billion Troubled Asset Relief Program. The central bank loans don't have the oversight safeguards that Congress imposed upon the TARP.
Total Fed lending exceeded $2 trillion for the first time Nov. 6. It rose by 138 percent, or $1.23 trillion, in the 12 weeks since Sept. 14, when central bank governors relaxed collateral standards to accept securities that weren't rated AAA.
'Been Bamboozled'
Congress is demanding more transparency from the Fed and Treasury on bailout, most recently during Dec. 10 hearings by the House Financial Services committee when Representative David Scott, a Georgia Democrat, said Americans had "been bamboozled."
Bloomberg News, a unit of New York-based Bloomberg LP, on May 21 asked the Fed to provide data on collateral posted from April 4 to May 20. The central bank said on June 19 that it needed until July 3 to search documents and determine whether it would make them public. Bloomberg didn't receive a formal response that would let it file an appeal within the legal time limit.
On Oct. 25, Bloomberg filed another request, expanding the range of when the collateral was posted. It filed suit Nov. 7.
In response to Bloomberg's request, the Fed said the U.S. is facing "an unprecedented crisis" in which "loss in confidence in and between financial institutions can occur with lightning speed and devastating effects."
Data Provider
The Fed supplied copies of three e-mails in response to a request that it disclose the identities of those supplying data on collateral as well as their contracts.
While the senders and recipients of the messages were revealed, the contents were erased except for two phrases identifying a vendor as "IDC." One of the e-mails' subject lines refers to "Interactive Data -- Auction Rate Security Advisory May 1, 2008."
Brian Willinsky, a spokesman for Bedford, Massachusetts- based Interactive Data Corp., a seller of fixed-income securities information, declined to comment.
"Notwithstanding calls for enhanced transparency, the Board must protect against the substantial, multiple harms that might result from disclosure," Jennifer J. Johnson, the secretary for the Fed's Board of Governors, said in a letter e-mailed to Bloomberg News.
'Dangerous Step'
"In its considered judgment and in view of current circumstances, it would be a dangerous step to release this otherwise confidential information," she wrote.
New York-based Citigroup Inc., which is shrinking its global workforce of 352,000 through asset sales and job cuts, is among the nine biggest banks receiving $125 billion in capital from the TARP since it was signed into law Oct. 3. More than 170 regional lenders are seeking an additional $74 billion.
Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would meet congressional demands for transparency in a $700 billion bailout of the banking system.
The Freedom of Information Act obliges federal agencies to make government documents available to the press and public. The Bloomberg lawsuit, filed in New York, doesn't seek money damages.
'Right to Know'
"There has to be something they can tell the public because we have a right to know what they are doing," said Lucy Dalglish, executive director of the Arlington, Virginia-based Reporters Committee for Freedom of the Press.
"It would really be a shame if we have to find this out 10 years from now after some really nasty class-action suit and our financial system has completely collapsed," she said.
The Fed lent cash and government bonds to banks that handed over collateral including stocks and subprime and structured securities such as collateralized debt obligations, according to the Fed Web site.
Borrowers include the now-bankrupt Lehman Brothers Holdings Inc., Citigroup and New York-based JPMorgan Chase & Co., the country's biggest bank by assets.
Banks oppose any release of information because that might signal weakness and spur short-selling or a run by depositors, Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, a Washington trade group, said in an interview last month.
'Complete Truth'
"Americans don't want to get blindsided anymore," Mendez said in an interview. "They don't want it sugarcoated or whitewashed. They want the complete truth. The truth is we can't take all the pain right now."
The Bloomberg lawsuit said the collateral lists "are central to understanding and assessing the government's response to the most cataclysmic financial crisis in America since the Great Depression."
In response, the Fed argued that the trade-secret exemption could be expanded to include potential harm to any of the central bank's customers, said Bruce Johnson, a lawyer at Davis Wright Tremaine LLP in Seattle. That expansion is not contained in the freedom-of-information law, Johnson said.
"I understand where they are coming from bureaucratically, but that means it's all the more necessary for taxpayers to know what exactly is going on because of all the money that is being hurled at the banking system," Johnson said.
The Bloomberg lawsuit is Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan).
To contact the reporters on this story: Mark Pittman in New York at mpittman@bloomberg.net;
Last Updated: December 12, 2008 11:35 EST
Like the 2002 Bush $1.3 trillion tax cut for the wealthy
decimated the $128 billion FY 2001 surplus, shifted the tax burden to the middle class while he went on a deficit spending spree and brought their ever diminishing numbers to their knees by September 2008? You want me to vote for the guy who backed up these policies 90% of the time, the same guy who has yet to utter the words "middle class" in a public forum during this entire campaign? Thanks, but no thanks. I'll take my chances on the change train.
Obama bailout up to just short of a trillion....
and he has been in office HOW long? lol. Doesn't count the billions we already spent. This is new spending. Talk about spending like a drunken sailor....lol. Hello democratic majority. LOL.
Correct....or the 3.5 trillion dollar social programs
@
Democratic governors seeking $1 trillion bailout...sm
Democratic governors seeking $1 trillion bailout
Obama and his staff receptive to ideas, Doyle says
By SCOTT BAUER • The Associated Press • January 3, 2009
MADISON — Five Democratic governors are asking the federal government for a $1 trillion bailout package, including $250 billion for education and $150 billion in middle class tax cuts.
Advertisement
The governors from Wisconsin, Massachusetts, New Jersey, New York and Ohio on Friday said they have presented their plan to President-elect Barack Obama's transition team as well as congressional leaders.
They said that level of federal aid is needed to deal with unprecedented state budget shortfalls in 41 states and Washington, D.C., that the Center on Budget and Policy Priorities pegged at $42 billion for the current fiscal year alone.
Wisconsin Gov. Jim Doyle said congressional leaders and the Obama team have been receptive to the governors' ideas.
"That's not to say they've told us this is what they'll do or they're with us all the way," Doyle said. He also said other governors were involved in creating the plan, which grew out of an early December meeting that Obama had with the nation's governors.
Obama's aides and congressional leaders have been talking about a package roughly half the size of the two-year plan the five governors proposed Friday.
A $1 trillion is equal to 6.7 percent of the gross domestic product, the U.S. economy's total output in a single year. A package of that size is likely to draw significant opposition from congressional Republicans and concern from moderate and conservative Democratic lawmakers who oppose large budget deficits.
In addition to the money for education and tax cuts, the governors said their plan includes $350 billion for road construction and other infrastructure projects and $250 billion for social service programs such as Medicaid.
The governors all said their states are facing unprecedented budget shortfalls that will require deep cuts to services and possibly irreparably harm their education systems.
"We aren't crying wolf," Ohio Gov. Ted Strickland said. "These are real circumstances, unprecedented situations we are facing."
Ohio's budget deficit could grow to $7.3 billion even after $1.9 billion was cut from its current budget, Strickland said.
A forecast from Global Insight shows that the economy hasn't hit bottom yet.
National economic growth is now expected to drop 1.8 percent this year, rather than increase 1 percent.
The U.S. labor market is expected to lose 3.7 million jobs during the downturn, with unemployment reaching 8.7 percent in the first half of 2010, it said.
That forecast assumes there will be a $550 billion federal stimulus package, roughly half of what the governors requested.
http://www.greenbaypressgazette.com/article/20090103/GPG0101/901030590/1978
Over a $10 trillion dollar deficit today? That didn't happen on O's watch.
Yes, they need to trim down a lot of the programs crammed in the current stimulus package. But I don't approve of McCain's, either. Giving the top 10% a tax break benefits NO ONE but the top 10%. They drink imported wines, buy designer clothes and travel to foreign destinations - how does that benefit the bulk of Americans? It takes $30,000 to $40,000 in gas just to fill up their yachts - who does that benefit? Not us. Instead of "screw the poor!" - how about "screw the rich!"
Just a few dollars more.......... sm
Crysler is now asking for another $5B to "survive." You know, with all the bailouts and stimulus packages and defcits, I'm beginning to look at $5B as not so bad. How sick is THAT? 
http://www.npr.org/templates/story/story.php?storyId=100789303&ft=1&f=1001
taxpayer dollars?
what makes you think that everyone having an abortion is paying for it themselves?
I agree that our tax dollars should be used to pay for it...
it is not a law passed by our congress (and our Constitution says only Congresses have the right to pass laws), it was foisted on us (like everyone here says we are "foisting" our opinions on them) by activist judges and is unconstitutional....those of us opposed to it should not have our tax dollars funding it. Yep, I agree with that!
How does this relate to $27 mil US tax dollars
This week's topic will be Palins pastor, not Rev Wright/Obama. You already had your best shot at this, which just a few posts ago, you said didn't matter (pastors, candidates, etc). Remember to stay on task. Spotlight on the republicans week, just what you all have been waiting for.
I have $32 dollars in savings
and a $52,000 dollar house that me and DH have only been paying on for two years as our "investment". (We bought it because the mortgage payments were as much as our rent payments so mine as well at least own it right?)
What I don't understand, if I started a business and it went under, would they bail me out?
No, probably not. *sigh*
GOOD! Now those tax dollars can be......... sm
used where there are supposed to be used....here in the good ol' USA. And people wonder why our economy is in such bad shape!
Yes, and we need those dollars staying here too!
..
tax dollars go to many things we dont want
There are many many people who do not believe in war and especially the war in Iraq yet our tax dollars are being spent to kill innocent people in other countries..So, if you dont want to spend your tax dollars on stem cell research..fine, then let the anti war peoples tax dollars go to things other than war. I would much rather my taxes go to finding ways to cure disease and ease suffering and pain in life than war.
White Phosphorus, In Our Name And With Our Tax Dollars
VIDEO |
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RAINews24
11.08.05
WARNING: This video contains graphic and possibly disturbing footage. |
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I agree. I think those federal dollars could be used...
for other things. It is not like the news is not out there. Kids know more today at 10 or 11 than I knew at 15 or 16. It is discussed on TV ad nauseam, all of the shows aimed at kids have discussed every aspect of sex you can imagine including STDs, AIDS, homosexuality, abortion, keeping a child rather than aborting, birth control, the whole 9 yards. And I figure most parents have had "the talk" with kids. The culture has been created that sex is an expression, it is no longer saved for marriage, multiple partners don't matter and you don't even have to like each other...that is the culture that has been created. No amount of birth control programs, sex ed programs, is going to put that horse back in the barn. We reap what we sow.
So why spend even more federal dollars on this? It makes no sense to me. You do the best you can to talk to your kids and explain the consequences of choices...but in the end, you cannot force them not to engage in premarital sex. It is ultimately their choice, and federally funded programs at this stage in our culture...waste of money in my view, because it is only repeating what is already out there.
Just my two cents.
Dollars you have in your pocket won't be worth anything.....
As value decreases now, world is found on shaky ground, too, so my thought is that they are probably going to come up with a currency that will be used by all countries involved (from research I've done) and the dollars you have in your bank account, savings account (?) and pocket won't be worth a red minted cent!
wish i had just spent it!
I could have had some real fun with that money, traveled, or paid off the mortgage or bought my retirement home or.... etc., etc., etc. instead of just watching it disappear before my eyes. Wish I had done that. Now I can't stand to look at it; too depressing. Retirement now is only a place I won't ever get to.
I have spent a ton
If we are in a slump, it is not my fault. I have been buying up all these bargins. I am done shopping for the year.
It took spending 1-1/2 BILLION dollars a month...sm
over years on the war in Iraq to get us to this point, borrowing from other countries, the highest deficit ever, printing money by the government with no gold behind it to drive the value of our dollar down around the world. Nothing to do with the democrats. When Bush became president we had a huge surplus. Did you forget that?
So, the 2 million dollars went back to Alaska.
nm
Wow, spot on . . .10 billions dollars a month . . .
for that war. For what? OIL. That money could go a long way to making sure EVERYBODY had healthcare and dramatically speed up the process of developing alternative energy sources! Why can no one see how much sense this makes?
8600 earmarks = 6 BILLION DOLLARS!
to that line by line lie Obama told when he wanted to be elected? He hasn't looked at one page, let one line by line...... thanks to all who put such a thug and liar in office! 
This man spent 5 years of sm
his life in the Hanoi Hilton as a prisoner and he didn't walk away from serving his country? Now he is worth waiting in line for. Rock stars come and go. Patriots are here to stay.
spent the weekend
canvasing my city (live near a large university) area for O. It was a very dynamic experience. I met so many people who are excited about the election. I really enjoyed being a part of the campaign for change. I just stopped in to see how things are on the board. Unfortunately, all I see is a lot of bickering from same 3 or 4 people, so I just want to say hi to my fellow dems. I am going to be spending time productively getting out the vote. Have a campaign worker coming from out of state to stay in my home while he works my swing state. Go Obama!
I spent the day envisioning
the future where neither dolled up pigs nor pet goats would distract us from national issues. I pledged with renewed fervor to work to have the administration that was in power at the time of the disaster be held accountable for their inactions and to work to elect the democratic team to begin rebuilding our nation.
you have actually spent time
reaching DMorris? Sad to hear that.
Buchanan is on MSNBC and Chris Mathews tries to suppress a smile when Buchanan twists himself into a pretzel. Rachel Maddow throws her head back and laughs. the segment she has for him is called "It's Pat" and he is too old to know she is making fun of him.
Oh, PLEASE don't tell me she spent a wad on her HAIR!
.
I hope all of you who have spent
so much time bashing Obama are happy with your part in this. Put some blame on the McCain/Palin couple for fueling the hate too. I expect it to get worse. Shame on all of you.
Your time may be better spent
discussing the matter with those on this board who say there is no such document....
you all would do better to decide on whether you believe there IS a document or there isn't.... which is it?
Obama campaign gave over 800K dollars
xx
Obama gave ACORN 800 THOUSAND dollars
nm
I just heard billions of dollars in bigger government...
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He spent most of his time in senate
running for president. It is a shame the people of socialism did not even get proper representation from him. Anyone else with a job to do would be expected to actually DO the job. What's he going to run for if he actually does win the presidency? World Socialization and kissing cousins with terroists?
$13,000 was spent on a makeup artist
for month of September. I think that is even more wasteful because she is so pretty. Turns out a guy was the shopper for her clothes. He has some nice taste, wish he would shop for me. Particularly liked the white Valentino jacket she was wearing at the convention maybe, not sure. Also loved the black blouse she wore while visiting the world leaders in NYC.
The money being spent on the inauguration
At least that is one way to look at it.
If Paulson had spent that money....(sm)
from the first bailout on saving these institutions instead of padding CEO pockets, would this be an issue today?
Personally, I hope capitalism does go down. It has never worked and never will.
What about the Billions Bush spent
Giving millions to companies without overseeing how the money was spent. You think that is responsible? You should at least give Obama a chance. We had to suffer through 8 long years of Republican ridiculousness... Can you not be gracious enough to allow this man some time? At least he has a plan to help American PEOPLE - Not INSTITUTIONS...AKA Bush Cronies.
Perhaps your time would be better spent reading the
the Global Poverty Act Obama wants to shove down your throat..... you want the United Nations telling you or your family how to raise your children?
And for the poster who believes our constitution is better in the hands of Obama, ask yourself why he wants to destroy it and let the United Nations dictate our country......I don't recall seeing that anywhere in the constitution.
Now, it takes a while to get through all the throat slitting sickening stuff in there he wants for your country (United Nations' country)but you might understand where our constitutional rights are heading........
Cheney spent SIX TIMES MORE on...
...entertainment than Bush????
Well, maybe that makes sense. He does seem like someone who is pretty difficult to entertain. 
Cheney spent SIX TIMES MORE on...
...entertainment than Bush????
Well, maybe that makes sense. As I remember his snarling face, he did seem like someone who is pretty difficult to entertain.
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