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Will this story play on every tv and radio station in the country? Every newpaper and website news outlet?
To steal one from John Boehner: "hell no it won't".
And why is that, if the media is so 'liberal' and 'mainstream'?
Only about $380 Billion was actually used, and almost all of that has been, or will be, repaid, with interest. I'd call that somewhat successful.
Much of the part that will probably NEVER be repaid relates to Obama's decision to buy GM with taxpayer money and give much of it to his union cohorts.
GM has repaid billions - not sure what you're talking about.
Do you not understand how it would take longer to repay loans as an auto maker as opposed to a bank?
GM used TARP money to repay TARP debt.
http://factcheck.org/2010/05/general-motors-debt/index.html
Not very successful.
Not sure you actually read the article you linked to. If the Government gave them, say $100 and they used $10 of that and kept $90 in the bank, then from that 490 they repaid $10 more to the government, they now have less money from the government ($90 total, including the ten they spent). So regardless of where those funds came from, they still owe less to the government. It is like any home owner that takes out a home equity loan or a business that takes out a business loan. Unless they are making huge profits instantly, that money is paid back with that same money they got from the loan. So the loan is now less.
What GM did by paying back that money was say that they are doing better than they thought and they need less. So it is all good. Paying back that portion was a great thing because it gave the federal government and us back some of the money we lent them. Even if it was paid back with profits, but they kept all the TARP money they had, it would be the same thing.
So how is that a bad thing? How is them ultimately having less TARP money a failure by the government or GM?
Well, I'm just amazed that for things to be so dire, the recovery was so remarkedly fast, easy and profitable, I just wonder................?
There really isn't much debate about it. TARP worked.
http://www.reuters.com/article/idUSTRE66655P20100707?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%253A+reuters%252FbusinessNews+%2528News+%252F+US+%252F+Business+News%2529
http://www.nytimes.com/2010/07/28/business/economy/28bailout.html?_r=3
http://www.economy.com/mark-zandi/documents/End-of-Great-Recession.pdf
http://www.washingtonpost.com/wp-dyn/content/article/2010/07/31/AR2010073100092.html?wpisrc=nl_headline
It's not rocket science. Facts are facts.
So why aren't people say it? Why are the republicans continueing to say it's a failure that added to our debt and it's Obmama's fault? Why are people listening to just part of that? Our gov had to def spend to keep us from a great depression. Obama wouldn't have added to the def otherwise! so why not say so?
The money that was given to the banks was repaid it is all the money that Obama blew on the car companies that we will never get back. What is the worst part of the who thing is that the money was given to the Unions and the investors got left out in the cold. The Unions are the ones that screwed the company into the ground they should have been left out of it all
Openmind:
Never let the facts get in the way of a good talking point.
1. Nothing was given to the unions; it was ALL given to GM and Chrsyler management.
2. The investors were "left out in the cold?" I think not. They got protection from a complete collapse/bankruptcy of their investments.
2. It was GWB, not Bush, who pushed the auto bailout. Auto company bailouts were already part of the total economic disaster Bush left for Obama.
http://www.nytimes.com/2008/12/20/business/20auto.html
3. GM and Chrysler's bailout funding was $86B. Of that, the actual cost to the US Government after repayments etc is expected to be $17B. FAR, FAR LESS than originally estimated. That represents approximately an 80% repayment of the US investment in the auto industry.
4. The unions screwed the company into the ground? Really? The benefits contained in the UAW contract were negotiated by BOTH parties (union AND management). So in fact, BOTH parties screwed the "company into the ground." There's ample blame for both union and management.
Thanks for playing...but you're way off base with your post.
It's funny reading all these republicans stumbling all over their lies this morning trying to make an invalid point. Your lies are starting to come out in the light republicans. I told you months ago you were underestimating President Obama. Now go back over to Fox and ask them what you should do now.
"go back to Fox . . . " Too funny!!!
I agree - the Republicans underestimate the President. I am truly beginning to think this election is not going to be the tsunami the media believes. Oh sure, the Dems will lose some seats, but we just may hold on to a slim majority. Hopefully, I'm not crying in my cheerios November 3 :)
VOTE!!!!!!
I believe in the Republican philosophies that say, "the least amount of government is the best government" and "government should only do for the people that which they can't do for themselves". However, it would actually be deceitful and irresponsible not to recognize that there are real responsibilities that go along with those principals: government must be at least as much government as is needed; government must do for the people that which they can't do for themselves; and within those constraints, government must protect the majority from being exploited by the few. As we have vividly seen with Bush-Cheney and the whole Republican Party, then and now, they not only neglect those responsibilities but they actually condone and encourage pursuit of just the opposite. In reality they have become 'puppets' for Special Interests and the influential, powerful and extremely wealthy few who strongly support them and who 'pull their strings'.
If we should desire to regain the prosperity of the late 90's, then maybe we should accept having the government and the taxes of then too. Today there is a real aggressive con going on with the Republican Party, regular and Tea Party and their supporters who stand to again greatly gain, making every effort to deceive, excite, sway and manipulate public opinion. A whole lot of money, overt and covert efforts and a bunch of excited antics are being expended to influence people's thinking ... and to achieve a return to 'more of the same', which alone is totally scary and should be fair warning.
Take the Tea Party and their candidates, where we see the bazaar, extreme and excited presentations aimed to appeal to people's fears and emotions, always by those with questionable histories and chosen for their ability to get attention and to be controlled 'puppets' rather than for having real qualifications. The scare of run-away socialism that they use is simply an exaggeration as after all of the neglect, irresponsibility and focus on benefit for Special Interests and the select few, the pendulum has actually swung far to the right. Then the reality is that Obama actually inherited the problems and while his efforts to resolve the problems definitely need to be fine-tuned and adjusted, they have none the less been focused on the problems while the Republicans have irresponsibly just criticized and obstructed everything and focused on their political ambitions above all else, without any regard for the cost to the people.
Common sense indicates that it would be ridiculous to expect that those who have fought all change, whose strong supporters want no change, that after they would gain control, repealed all changes and returned to 'more of the same', they would then really work on honestly making the required changes - instead of once again just depending on subterfuge to rationalize and manipulate. No, the deceptive efforts and the arrogant con are readily apparent to anyone who will calmly step back and view everything. If the voters don't do that, if they are not insulted by being taken for granted and treated as 'pawns', then we may just be returned to 'more of the same' that brought this country to it's knees.
RGiles----- Republicans were only funnin us!! They plaanned this huge national debt. They saw this collapse coming. They did nothing! But their supporters got RICH on the backs of the middle class!
Well isn't that special. The man was on the House floor, practically in tears, begging for this vote. And now, lo and behold, he loudly criticizes it. He speaks with forked tongue. Can anyone explain to me why folks listen to Republicans - their hypocrisy is outrageous and yet they rarely, if ever, get called on it. And these very same folks claim to know what to do to lead the country. Oh, now they know. What the hell have they been doing? Oh yeah, nothing. The Republicans have an amazing ability to conveniently forget how they contributed to this economic climate, it's as though they were not part of the government, the legislative branch no less. They just magically appeared on January 21, 2009, after President Obama was inaugurated, and right after that 20 million illegals crossed the border, all of sudden there was an unsustainable deficit, the TARP began, all our rights were taken away by the socialist/marxist/communist/muslim/kenyan (did I miss anything).
Listen, I know Democrats have their issues, but the outright lies and hypocrisy of the Republican party is stunning and they need to be called on it by that liberal media the right complains about.
VOTE!!!!!!!
Why do you think they complain about the liberal media? Because they don't want the public to know that there is an opposing opinion based on fact not hyperbole.
Republicans want us to believe the stimulus is wasteful and a significant contributor to the deficit. What the Republicans don't want us to know is that the stimulus money has been vigorously petitioned for by a large portion, if not all, Republicans for pet projects in their states. Side note here, the irony is that the Republicans are stating that they need the stimulus money to create jobs - precisely what they claim the stimulus is not doing.
The Tea Partiers are slamming anyone who criticises Sharron Angle when she utters those oh so intelligent explanations to define what she had already said, Joe Miller's legal problems and his obvious lack of comprehension of the 1st Amendment, etc. etc. All of these scenarios are readily available on any liberal news channel/website - domestic and foreign.
If it weren't for the Liberal Media, the average citizen would have never known about these events. The only sensible conclusion is that Republicans do not care for a correctly informed constituency. An informed constituency is the most dangerous weapon the citizens of this country have to combat the deceit and arrogance of our elected officials and their strangle hold on this country.
And this surprizes anyone? The whole republican mantra has been to push for Obama to fail. at all cost, he must fail. Cut taxes, small government, and keep the miltary complex rolling. And all they have to do to get the most of the country behind them is to play to the religious fanatics, the gun owners, and above all bank roll wall street success. Doesn't anyone realize that a lot of our deficits have come from our wars, and tax cuts. Now people like Angle and all the other stupid Tea partiers will be running our country. What are we to do?
This is so classic; John Boehner, minority house leader rebuking HIMSELF. 'Couldn't happen to a nicer guy. Republiclowns, it's time to start getting behind your president! I believe we're experiencing the beginning of the end of the Tea party game....'time to get serious!
It must be hard for Boehner to see things clearly beyond the perpetual orange glow that surrounds him. Dude seriously need to quit with the fake & bake.
There's no mystery!! The GOP knew it would pass. They simply used it as a propaganda weapon AGAINST the DEMs. Boehner can count votes. Most GOP congresscrittrers voted NO, knowing full well that it would pass, needed to pass and gave them a campaign issue vs the DEMS.
Elementary, my dear Watson!
I would like to say that the bail out and reco. act both worked in there own way money is comeing back to the government jobs where saved and we didnt go into another great deprecion this should be what folks should be thankfull for.. but I dont see folks being thankfull. Maybe we shouldve let them see what a great deprecion is.. 401 ks wouldve been slaughterd banks wouldve failed and most of the poor and middle class wouldve lost there jobs and had know unemployment benifits,, saveing the econimy was the number one goal.. Now its getting paid back.. hm maybe Obama knows what hes doing folks. I would say when are we getting all that money back from Iraq wasnt that promised to us by Bush and Chaney when they plead there case for war. Unlawfull war..