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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (29547)	4/21/2010 12:23:34 PM
From: longnshort	1 Recommendation Read Replies (2) \| Respond to of 103300

"early repayment of its remaining $4.7 billion in U.S. government loans, " they have paid back only 13 % of their loan, not all of it

To: DuckTapeSunroof who wrote (29547)	4/21/2010 12:24:40 PM
From: longnshort	1 Recommendation Read Replies (1) \| Respond to of 103300

By TBlumer on Taxes & Government BIZZY BLOG From GM's Ed Whitacre in the Wall Street Journal: >>>The GM Bailout: Paid Back in Full The investment of U.S. and Canadian tax dollars worked.<<< No Ed. The government ripped off disfavored creditors and dumped something like $45 billion into new GM stock. It then "cleverly" lent your company far, far more than it needed to get going after walking away from tens of billions of dollars in debt bankruptcy. Now we're supposed to be impressed that your company paid back a bunch of money that has been parked doing almost nothing (except creating smaller reported losses, thanks to interest) since it emerged from bankruptcy. Big freakin' deal. ________________________________________________ UPDATE: No true accounting for the cost of the GM government bailout is complete without taking GMAC into account, and the government in essence admits to that fact: >>>GMAC was treated more like banks that received bailouts without having to explain what they were doing with the money, the report says. The report was released Thursday by the Congressional Oversight Panel overseeing the $700 billion financial bailout that Congress passed in October 2008. "Treasury missed many opportunities to improve accountability and protect taxpayer money," panel chair Elizabeth Warren said in a conference call with reporters. She said Treasury didn't make GMAC show how it would return the taxpayer money, or how the investment would increase credit to consumers. "These decisions mean that Treasury is now struggling to deal with a GMAC that is not financially rehabilitated, Treasury has no exit strategy and taxpayers are not fully protected," Warren said. The Treasury Department responded by reiterating that backing GMAC was necessary to preserve dealer financing for GM. It disputed the report's core finding, that alternative approaches might have saved taxpayer money and provided better transparency.

To: DuckTapeSunroof who wrote (29547)	4/22/2010 6:45:45 AM
From: Hope Praytochange	Read Replies (1) \| Respond to of 103300

idiotObama suggests value-added tax may be an option By CHARLES BABINGTON, Associated Press Writer Charles Babington, Associated Press Writer – Wed Apr 21, 7:14 pm ET WASHINGTON – Barack idiotObama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days. Before deciding what revenue options are best for dealing with the deficit and the economy, idiotObama said in an interview with CNBC, "I want to get a better picture of what our options are." After idiotObama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted 85-13 last week for a nonbinding "sense of the Senate" resolution that calls the such a tax "a massive tax increase that will cripple families on fixed income and only further push back America's economic recovery." For days, White House spokesmen have said the president has not proposed and is not considering a VAT. "I think I directly answered this the other day by saying that it wasn't something that the idiot had under consideration," White House press secretary Robert Gibbs told reporters shortly before idiotObama spoke with CNBC. After the interview, White House deputy communications director Jen Psaki said nothing has changed and the White House is "not considering" a VAT. Many European countries impose a VAT, which taxes the value that is added at each stage of production of certain commodities. It could apply, for instance, to raw products delivered to a mill, the mill's production work and so on up the line to the retailer. In the CNBC interview, idiotObama said he was waiting for recommendations from a bipartisan fiscal advisory commission on ways to tackle the deficit and other problems. When asked if he could see a potential VAT in this nation, the idiot said: "I know that there's been a lot of talk around town lately about the value-added tax. That is something that has worked for some countries. It's something that would be novel for the United States." "And before, you know, I start saying 'this makes sense or that makes sense,' I want to get a better picture of what our options are," idiotObama said. He said his first priority "is to figure out how can we reduce wasteful spending so that, you know, we have a baseline of the core services that we need and the government should provide. And then we decide how do we pay for that." Volcker has said taxes might have to be raised to slow the deficit's growth. He said a value-added tax "was not as toxic an idea" as it had been in the past. Since then, some GOP lawmakers and conservative commentators have said the idiotObama administration is edging toward a VAT.