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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (475396)4/27/2009 3:01:21 PM
From: i-node1 Recommendation  Read Replies (1) of 1572548
 
>> BTW do you know if the auto industry loans are part of the deficit?

Of course they are.

But there is absolutely NO REASON to expect those loans to be repaid, because they aren't solving the basic financial problem, which is that unions make these companies financially untenable.

Unless they agree to void the union contracts as part of the bankruptcy, these are permanent expenditures that will never be recovered.

Obama has been lying through his teeth about "inheriting" a 1.8 Trillion deficit. The reality is that TARP and other programs that ARE likely to be repaid, at least in part, are a huge part of his "inheritance".

It is OBAMA'S spending that is money down the tubes. Bush's, some may be down the tubes but there is at LEAST A CHANCE the taxpayers will get some of that money back.

Of course, that bastard Obama will try to claim credit for it.
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