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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (8825)	6/1/2009 2:30:41 PM
From: Brumar89	Read Replies (1) \| Respond to of 86356

Worth pointing out Democrats have both cut taxes (JFK) and started wars before (Vietnam, Haiti, Balkans). Okay, cutting taxes is pretty rare for Dems. I only know of that one example of it happening.

To: RetiredNow who wrote (8825)	6/2/2009 10:53:15 AM
From: TimF	Read Replies (1) \| Respond to of 86356

OT We won't know whether those bailouts cost the tax payers or not until we know whether they will be paid back. Part of the money, may be paid back, but part isn't all, that that part is likely to be a minority. And for the money that is paid back, to the extent that it was lent at less than market rates that's a subsidy. The market rates for these companies would have been very high. If it gets paid back over many years its possible that the forgone interest would reach as much as the initial principle (which would cap how much I would count as the cost, a subsidized loan isn't ever worth more than a direct grant of the same amount of money). So your right that we don't know the exact cost here, but we do know that its a lot more than the figures you presented. Also Obama has been in office only a short time, so the rate is much more rapid than the other presidents. An an important point that you ignore completely is that tax cuts aren't spending.