Guess we didn't need it after all

[we vs us]

Came across this little nugget on Bloomberg:

quote: The Bush administration told congressional aides it won't ask lawmakers to release $350 billion remaining as part of the $700 billion U.S. financial- rescue package, people familiar with the matter said.

The administration of President George W. Bush ends in less than 10 weeks, and a delay in requesting the cash would leave it to President-elect Barack Obama to tap remaining cash in the bailout money.  

Does this mean the problem is fixed, or that they just don't know what the **** to do?

[cannon_fodder]

There are now calls to freeze the remaining money since no one knows where the $200,000,000,000.00 that is already gone went, what is supposed to happen with it, or if it has, will or even might do any real good.

Yay government!  The cause, and solution, to all of our problems.

[Gaspar]

Don't you love it when people think throwing money at something will fix it?

Take $10 out of your left pocket, and put it in your right pocket.

Ahhh, that's better.

I hope we can still get those earmarks for wooden arrows for kids, and. . .

- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)
- Film and Television Productions (Sec. 502)

And of course the 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504).

[Hometown]

Did you catch that recent PBS program on 1929?  I thought '29 happened all at once but it happened over a matter of months in a way that seemed somewhat similar to what we are going through.  I sure hope we didn't need "it" after all.  I'm not ready to stand in soup lines.  There does seem to be a dearth of news reports on the subject.  Stuff like Clinton being secretary of state seems totally irrelevant in the face of news like a depression -- maybe.

[sgrizzle]

quote:Originally posted by cannon_fodder


Yay government!  The cause, and solution, to all of our problems.

[shadows]

quote:Originally posted by cannon_fodder

There are now calls to freeze the remaining money since no one knows where the $200,000,000,000.00 that is already gone went, what is supposed to happen with it, or if it has, will or even might do any real good.

Yay government!  The cause, and solution, to all of our problems.

Under our system of financing both civil and government functions there is no reason for alarm.   We have issued already 10.7 trillion "promise to pay" notes with 5 trillion in the past 8 years.  We have created a society that will not accept coinage as the barter of exchanges in quantities we are required to use in everyday trading.

Never has any society been able to deal in unsecured paper notes and survived.   The only lost and unaccounted for funds are those the printing presses are so slow in printing.  At present we are short of any industrial production for the world trade market to back our unsecured Federal Notes.  

We are not of a new world that the Spanish found but a society of greed we formed that cannot be enforced on other countries even with a sword.