Friday, December 11, 2009

BO and More Job Creation

One of the many stories coming out of Washington over the past few days has to do with BO's request for control of the +-$200,000,000,000 of TARP funds that have not been spent. When the law was passed last year for TARP funds ($700,000,000,000+), we were promised that the emergency (which could not wait for passage past the coming Friday - or the US economy would collapse) measure would provide funds to buy troubled assets (TARP-Troubled Asset Relief Program). The troubled assets were the foreclosed homes on the books of the banks and other organizations such as Fannie Mae and Freddie Mac. We were told that if this massive amount of money was passed that the taxpayers (i.e. government) would actually make money - maybe triple the investment by later selling the homes for a profit.

They talked up the plan and it was approved and signed into law. Here we are, over a year later and they have yet to buy foreclosed homes. Almost before the ink was dry, the plan changed from buying troubled assets (where we had a chance to "actually make money") to giving the money away to Wall Street companies and banks.

The TARP law states that any monies not spent would have to go back to reducing the government's debt. Well, for some reason, BO's administration did not give it all away, yet. BO cannot stand to take the money ($200 Billion) and give it back to reduce the massive debt he is running up.

So, he is lobbying to have congress pass approval for him to retain control of the money. He states that he wants to use the money for more job creation. Let's examine how successful the other hundreds of billions of dollars have been in creating jobs since it was approved in Stimulus One (SO). Unemployment is over 10% - BO promised that if SO were passed, unemployment would not go above 8%. Lets see, on his own web site (the one that cost us $18,000,000 to create) how the claim that they were successful in creating jobs has worked. The website was full of bogus claims that even the main-stream media criticized.

What do I think? I believe he is just saying what he believes we want to hear. If he gets his way, again, the $200 billion will not go to debt reduction, as required by law; but will be given to him to pass out to his cronies just as most of the rest was used.

Rush Limbaugh, today, made an observation that every time a liberal says something, it is a lie. That is just about the truth of the matter. You cannot believe anything they say. You can count on them to try to manipulate the public, with lies, to get whatever they want.

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