I wonder where the money is gonna come from?

  • Posted by a hidden member.
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    Sep 19, 2008 4:03 PM GMT
    "President Bush and Treasury Secretary Henry Paulson on Friday outlined a series of far-reaching steps - likely to cost hundreds of billions of dollars - aimed at stemming a widening financial crisis that is roiling the financial markets and undermining confidence in the banking system."

    Where is this money going to come from? Is the US going to have to borrow more??? ... icon_eek.gif ...Are we going to go deeper into debt because of this? ...Are we going to raise taxes to pay for this?

    http://money.cnn.com/2008/09/19/news/economy/paulson/index.htm?postversion=2008091910
  • GQjock

    Posts: 11649

    Sep 19, 2008 4:09 PM GMT
    Remember the last republican generated economic crisis?
    The Savings and Loan debacle
    It's gonna come straight out of where that came from
    Out of our respective asses
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    Sep 19, 2008 9:42 PM GMT
    Oh Kwitcherbellyakin! Of course the government should bail them out, the government got them into this mess in the first place.

    We haven't had a real Laissez Faire economy since 1913.

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    Sep 19, 2008 9:45 PM GMT
    Specifically Phil Gramm.
  • Koaa2

    Posts: 1556

    Sep 19, 2008 9:48 PM GMT
    It is coming from us, peoples kids, grandkids, greatgrandkids etc.
  • EricLA

    Posts: 3461

    Sep 19, 2008 9:56 PM GMT
    I have no idea what you're complaining about. We just print more money. Print, print, print! Drill, drill, drill!
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    Sep 19, 2008 10:34 PM GMT
    Caslon7000 said
    Where is this money going to come from? Is the US going to have to borrow more??? ... icon_eek.gif ...Are we going to go deeper into debt because of this? ...Are we going to raise taxes to pay for this?


    Borrow ourselves into more debt, the Republican answer for everything. Odd they call Democrats "tax & spend" when they've spent more than anyone. Democrat Clinton left us a budget surplus, while Republican Bush has given us the greatest debt in US history.

    It's true the Republicans have given us tax cuts, but they only resulted in more debt (with interest), and benefited corporations and the wealthy the most. The crushing national debt will eventually force tax increases, which if they occur during a Democratic administration, the Repubs will be only too happy to blame them for.

    I find it more than coincidence that the biggest bailouts in US history (the S&L crisis and the current ones) happened when Republicans were in the White House, and more specifically, the two Bushes. The President sets economic policy in manifold ways, with Congress usually the junior player.

    Why would any rational voters think their economic futures would be better off with yet another Republican in the WH? And one who's admitted economics isn't his strength, and whose economic advisors helped to craft the same deregulatory policies that created this present mess?
  • Posted by a hidden member.
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    Sep 19, 2008 10:35 PM GMT
    If you'd read God's plan, you'd know where it's going to come from.
  • Posted by a hidden member.
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    Sep 19, 2008 11:05 PM GMT
    ARE you guys serious???!! Complaining about taxes and government bailouts and about whose fault it is???

    Don't people get it? We are talking GREAT DEPRESSION type stuff here

    http://www.nytimes.com/2008/09/20/washington/19cnd-cong.html?_r=1&hp&oref=slogin

    I'm just glad both Bernanke and Paulson are scholars of the Great Depression...
  • CuriousJockAZ

    Posts: 19119

    Sep 19, 2008 11:51 PM GMT
    If there is a silver lining to any of this it is that perhaps it will force the Republicans and Democrats to work together and stop this endless partisan bickering that has gotten nobody anywhere. I'm so sick of people thinking that any one President or party is to blame for this. This has been brewing for decades, and there is more than enough blame to go around, including the American people themselves who have been living beyond their means for far too long. Those days are coming to a screeching hault.
  • HndsmKansan

    Posts: 16311

    Sep 19, 2008 11:59 PM GMT
    CuriousJockAZ saidIf there is a silver lining to any of this it is that perhaps it will force the Republicans and Democrats to work together and stop this endless partisan bickering that has gotten nobody anywhere. I'm so sick of people thinking that any one President or party is to blame for this. This has been brewing for decades, and there is more than enough blame to go around, including the American people themselves who have been living beyond their means for far too long. Those days are coming to a screeching hault.


    Thats a little bit of a stretch. The main reason for this is the "trickle up" effect of the mortgage crisis
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    Sep 20, 2008 12:37 AM GMT
    CuriousJockAZ saidIf there is a silver lining to any of this it is that perhaps it will force the Republicans and Democrats to work together and stop this endless partisan bickering that has gotten nobody anywhere. I'm so sick of people thinking that any one President or party is to blame for this. This has been brewing for decades, and there is more than enough blame to go around, including the American people themselves who have been living beyond their means for far too long. Those days are coming to a screeching hault.


    Well said - and also for further consideration, independent reports by outside investigators concluded that Freddie Mac manipulated its accounting to milsead investors, and critics have said Fannie Mae did not adequately hedge against rising interest rates.

    In 2005 John McCain co-sponsored the Federal Housing Enterprise Regulatory Reform Act - which was shot down by the Democrats and even some Republicans in Congress. So, McCain fought three years ago to help shield us from the crisis going on today. What was Obama's vote?

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    Sep 20, 2008 12:55 AM GMT
    CuriousJockAZ saidIf there is a silver lining to any of this it is that perhaps it will force the Republicans and Democrats to work together and stop this endless partisan bickering that has gotten nobody anywhere. I'm so sick of people thinking that any one President or party is to blame for this. This has been brewing for decades, and there is more than enough blame to go around, including the American people themselves who have been living beyond their means for far too long. Those days are coming to a screeching hault.

    Of course you are sick of it. Cuz it is landing squarely at the feet of the Republicans....WHERE IT BELONGS! ...Dont try to peddle that crap that this has been brewing for decades....why didnt Business avert it if they had that long? ...Why didnt the Republicans manage it for the 6 years they had complete control of the government. ...Why am I asking? You have shown yourself to be incapable of rational thought.

    The silver lining is that we wont have to listen to all the blather about how everybody should get out of the way of Business and they will generate overwhelming wealth for everybody! ..And arrogant Republicans are gonna have to keep their traps shut for a while. ... icon_lol.gif

    We have been forced to a socialist solution for a capitalist mistake!

  • Posted by a hidden member.
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    Sep 20, 2008 12:58 AM GMT
    Photobucket
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    Sep 20, 2008 1:04 AM GMT
    We'll do whatever we have to. What exactly that is isn't clear right now. Nobody has a clear fix plan or had any preventive plan in the past.

    Senate Majority Leader Harry Reid, asked today what new regulatory actions Congress can take, said, bluntly, "No one knows what to do.

    http://blogs.abcnews.com/politicalradar/2008/09/senate-majority.html

  • SkyMiles

    Posts: 963

    Sep 20, 2008 1:09 AM GMT
    Jockbod48 said
    CuriousJockAZ saidIf there is a silver lining to any of this it is that perhaps it will force the Republicans and Democrats to work together and stop this endless partisan bickering that has gotten nobody anywhere. I'm so sick of people thinking that any one President or party is to blame for this. This has been brewing for decades, and there is more than enough blame to go around, including the American people themselves who have been living beyond their means for far too long. Those days are coming to a screeching hault.


    Well said - and also for further consideration, independent reports by outside investigators concluded that Freddie Mac manipulated its accounting to milsead investors, and critics have said Fannie Mae did not adequately hedge against rising interest rates.

    In 2005 John McCain co-sponsored the Federal Housing Enterprise Regulatory Reform Act - which was shot down by the Democrats and even some Republicans in Congress. So, McCain fought three years ago to help shield us from the crisis going on today. What was Obama's vote?



    McCain deserves some credit for that bill which would have increased oversight over Fannie and Freddie, but it wouldn't have done anything to address the industry-wide problem. Here's a link:
    http://politifact.com/truth-o-meter/statements/721/
    Still, he deserves credit for that.

    In the interest of being 'fair and balanced', Obama and Durbin sponsored a bill in 2006 and reintroduced in 2007 that would have put a stop to fraudulent lending. republicans crushed it.
    http://www.reuters.com/article/governmentFilingsNews/idUSN2526422320070425
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    Sep 20, 2008 1:15 AM GMT
    ^ not to nit pick but could you please find that bill?

    Nothing under the year 2006 for business/banking related topics under Obama that I could find.

    http://www.vote-smart.org/index.htm

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    Sep 20, 2008 1:18 AM GMT
    Colbert_Nation saidMcCain deserves some credit for that bill which would have increased oversight over Fannie and Freddie, but it wouldn't have done anything to address the industry-wide problem. Here's a link:
    http://politifact.com/truth-o-meter/statements/721/
    Still, he deserves credit for that.

    In the interest of being 'fair and balanced', Obama and Durbin sponsored a bill in 2006 and reintroduced in 2007 that would have put a stop to fraudulent lending. republicans crushed it.
    http://www.reuters.com/article/governmentFilingsNews/idUSN2526422320070425

    I wouldn't even give McCain that much credit for anything. It was sponsored by Senator Chuck Hagel not that glory grabber McCain who only co-sponsored it ..
    http://www.govtrack.us/congress/bill.xpd?bill=s109-190
    and it never even made it to the floor for a vote by the MAJORITY REPUBLICANS at the time
    By the way, Hagel has nothing but praise for Obama in this article ..
    http://www.huffingtonpost.com/2008/05/20/chuck-hagel-takes-on-mcca_n_102775.html
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    Sep 20, 2008 1:22 AM GMT
    Compare their approach to the current meltdown:

  • SkyMiles

    Posts: 963

    Sep 20, 2008 1:30 AM GMT
    Trance24 said^ not to nit pick but could you please find that bill?

    Nothing under the year 2006 for business/banking related topics under Obama that I could find.

    http://www.vote-smart.org/index.htm



    No prob'
    http://www.govtrack.us/congress/bill.xpd?bill=s110-1222

    And thanks ActiveAndFit, I type faster than I think sometimes icon_confused.gif

  • Posted by a hidden member.
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    Sep 20, 2008 1:38 AM GMT
    If your rich your ok. Really, you had Bush and the rich dems love him too... I mean he did save us from another depression. All the stocks that could of dropped off....the rich saved from taxation and market decline!!!

    So who will you vote for. It's all a joke brothers....
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    Sep 20, 2008 1:39 AM GMT
    Colbert_Nation saidAnd thanks ActiveAndFit, I type faster than I think sometimes icon_confused.gif

    icon_biggrin.gif
  • coolarmydude

    Posts: 9190

    Sep 20, 2008 2:16 AM GMT
    It is estimated that it will cost approximately 1 Trillion dollars to "fix" this financial crisis.

    With approximately 300 million Americans (legal), why not the government give each man, woman and child 3.3 million dollars EACH? This way, the big suckle corporations can find their way to bankruptcy hell and never let this happen again.

    But you damn Republicans call that social welfare and are self-righteously against that sort of thing. *@#$@%^*^*%!
  • coolarmydude

    Posts: 9190

    Sep 20, 2008 2:16 AM GMT
    P.S. Talk about a stimulus check that would be!
  • coolarmydude

    Posts: 9190

    Sep 20, 2008 2:19 AM GMT
    P.S.S. Hillary Clinton's proposed offer to every newborn American a $5000 adulthood payment doesn't seem so costly now, huh, bastards!