What is it Really Going to Cost?

Samuelson must be an idiot. The ultimate cost may be as much as 60 Trillion Dollars. And this is just the credit default swaps.

The total cost of this so called bailout during the next four years of the Democratic Administration will be in the vicinity of 5-6 TRILLION DOLLARS! How did I arrive at this number? Governments projects of this type usually have a final cost of about 3 times the initial estimate and that is a low multiple. The Boston "Big Dig" was proposed to cost 3 Billion and came in at about 15 Billion. Once moneys of this magnitude is legislated the political animals enter the scene and since there is no such thing as "oversight" no one cares where the money goes since at that time it is considered "free" money.Only a financial collapse of our entire economy will change the attitude of our elected leaders.At this time the Democrats are in a pay back mode to those that got them elected,eventually there must be a plan 2 where working people and unemployed people will see some progress in their status. The usual policy of LIE,TAX,SPEND and Elect is working.

Presidents are sworn in to office on an oath to protect and uphold the constitution, not to control the economy. Are these bailouts in the executive power in the constitution? I think not. Are we allowing the executive powers to expand? Maybe this is OK if you trust the current president, but what happens when you don't trust the next president and we can't take back the new power, and the new and bigger government organizations? We need to remember that the founding fathers wanted separation of powers and checks and balances for a reason. We can't trust the government to protect us from economic crisis. It is not constitutional.

I voted for President Obama and I agree with Senator Kerry that the stimulus bill, as proposed, will not do anything significant to stimulate the economy for about 2 years. If true, our economy will be forever beyond repair. To paraphrase the President from his Inaugural Address, It???s not whether government spending is too big or too small, but rather does the government spending work? On the face of it, $825 Billion is a lot to spend to have no measurable effect for 2 years. On the other hand, our company has advanced 2 proposals, one of which does not make us a dime, yet could bring more than 3 million jobs back to the United States, IMMEDIATELY, by making it illegal to outsource financial services and information technology jobs to places like India for National Security reasons (like Al Qaeda having the possibility to hack personal and corporate computers and steal money for terrorism or bring whole systems down for a similar end). This proposal would be financed purely by tax credits totaling $43.7 Billion dollars and would force the banks (who already got so much of our taxpayer money) to RETURN American jobs to America. Our other project, The National Ecological Fertilizer Project, costs a total of $59.1 Billion dollars and IMMEDIATELY and permanently employs 787,725 Americans, spread equally over 87,525 municipalities of the United States, including 14,598 school districts. The beauties of this project are many, including, but not limited to the facts that (1) it is perpetually self-funding after the first year, (2) it provides an opportunity to remove another tool of terrorism from the United States (ammonium nitrate) and, (3) surplus revenues generated would offset lost property taxes and other revenues for localities, including cities, counties, and states, thereby helping them to maintain solvency and continuing to fund vital services WELL BEYOND the allocations mentioned in the present Obama Stimulus Plan. So, our plans create 3,787,725 permanent new jobs, IMMEDIATELY, for a total cost of $102.8 Billion dollars. Put another way, our plans create almost as many jobs as President Obamas??? plan, and do so IMMEDIATELY instead of over 2 years. Further, they do it for 12.46% of the estimated cost of the existing Obama Plan. If you like the idea of doing the recovery more efficiently, then ask your Congressman or Senators why these plans have yet to be considered.

American needs to be Pragmatic to Solve Problems.The main Question are the Americans really Prepared?

America must Stop protecting this Low -Value Jobs sector and stop paying the American the wrong High-Pay for Low value Jobs.

Its much economical and with great logic to get these cheaper cost Workers from Mexico,India,China etc to compete and make cheaper cars with less in America , these are Low-Value Sectors Americans are doing now.Are Americans rather lets this compnay totally Bankrupt or SHIPOUT the whole auto sector to Overseas?.With This Options,this create a economy boots to US and the State like michigan,..Just Images 2 Million of these Workers RENT trouble housing in Michigan?What type of Hype this workers can creates to jumpstart the economy or others business ike Food,clothing,etc in the area.Are American be prepare to aceepts these influx of Social change within them?

Provides them with the Employement Pass .The Government can Collects LEVY Taxes Let say minimum US500 per worker .How much does USA government made If US500 px x 2 million in a Month,with bomming surrounding for the community business.You're killing two birds with a single stone with my proposal.

Transfer and Training all American Workers from This auto-industry employees for Higher -Tech Jobs with good pay like silicon Wafer plant..etc....this is Quality worker we talking talking about higly specialist....Not Just making Car....please Dont TOYING with any bad ideas with my suggestions thats good for America..

CONGRESS IS FULL OF LAWYERS, SO WHY DID THEY ALL FORGET TO INCLUDE SOME CRITICAL FINE PRINT IN THE BAILOUT PACKAGE?

More abuse of the taxpayer is coming.

http://pacificgatepost.blogspot.com/2008/10/what-they-didnt-tell-us-about-bailout.html

Congress didn't do its job, ... again.

Believe it or not it is going to cost every taxpayer a ........NEW A**- H***.

When the media did everything from get yet another Democratic supporter like Tom Brokaw to "hand pick the questions from the audience of "undecieded voters" in a phony townhall style setting of course Obama was going to look competent. That's the only way he could.

Everyone knows or should know that McCain has not only been doing townhalls all over the country this whole time even when Obama refused to do any when invited by McCain "several times" the media had to move "heaven and earth" to make sure that this debate was fool proof. And Obama was the Fool!

The only feed back I got out of this last debate was that Obama is going to tax us to death like his poor constituents in IL with high sales and gas taxes. And when he raises capital gains on companies everyone will be on Welfare because all of the compaines will leave US and leave us with even fewer jobs.

He wants everyone to be poor. That way we will all be "the same" and the liberal media is none to happy to help. And stop thinking about how this is going to hurt the rich. The rich are already covering their hides. The second it gets too hot....Their Gone! And I mean out of the Country gone. And dont think you can move out of the country either because the rest of the world hates us more than any Republican could.

But no worries b/c Obama will lose b/c all across this country states are relizing what ACORN under the Obama campaign is doing (10 states and counting investigating them for voter fraud) and Obama will not only ruin his life but also drag down the entire Democratic party. This is going to bad.

Finally Good news! You cant stop the truth!

After much protesting - Hulu.com brought back the Saturday Night Live Congress Bailout skit back. CHECK IT OUT!!!!!!!!!!!!


http://www.hulu.com/watch/38041/saturday-night-live-washington-approves-the-bailout#s-p1-st-i1

Why couldn't the American Citizens vote on the bailout, why did the government do it? thats the only way it could have been passed..what a shame..We do not get a voice in this major decission, again, we are left out..This is really sad especially since it concerns the people of the United States...Why don't we get our voices heard? God help us all now...The financial system should be held responsible for their actions, we would go to prison for what they have done, what do they get? bailed out..We should have gotten the bail out, we could have paid off our mortgages, credit cards, loans, etc. and the banks and financial institutions would have gotten their money back...A sad thing happened today, I live in Ohio and in the Akron Beacon Journal a 90 yes 90 year old woman was being forced out of her home, they were forclosing on her, she shot herself, thank God she will live, but when she is out of the hospital, where will this poor woman live..is this what the government wants? WE THE PEOPLE OF THE UNITED STATES SHOULD HAVE HAD A VOICE IN THIS MAJOR DECISSION, not just the government...Fanny and Freddy and all the other financial institutions should be punished...I know we as American Citizens would be...my vote next month will be changed considerably..I am tired of being a puppet on the governments stings, my strings are going to be cut. Jobs being outsourced, refugees, immigrents, others coming to the United States taking our jobs, I for one am tired of pressing 1 for English. This is the United States, learn our language or go home..pay your taxes or go home, abide by our rules or go home..No wonder the United States is being laughed at..the government lies to US on a daily basis and think they are getting away with it...it is time the government became afraid of the American People instead of the American People being afraid of the Government. Their promises mean nothing anymore..they break them as fast as they make them....We are in more trouble than before...

n a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?





The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.




He believes people will vote against their own int

Hold them accountable NOW!
Elect Obama Biden 2008




Check out this video of sarah palins interview it will blow you away


http://www.youtube.com/watch?v=r36Xc0GG4iQ

I wonder if government's encouragement of holding mortgages plays into this issue. The fact that mortgage interest is tax deductible leads "wise" investors to hold mortgages even when they don't have to. They use the proceeds of their mortgages (or second mortgages) to invest in higher return (and higher risk) securities and take the tax deduction on the borrowed money. Maybe government should encourage home ownership, but not mortgage ownership. Maybe government should encourage neither. The result may stabilize the housing prices and reduce exposure to economic downturn. Comments welcome!

A man of great wisdom:
http://www.atlah.org/broadcast/manningreport.html

A Proposal to Resolve the Fannie Mae and Freddie Mac Financial Fiasco

In order to solve what has been termed the financial crisis, it is necessary to identify the cause of Fannie Mae???s and Freddie Mac???s catastrophic failure.

The cause of their downfall is the partisan democrat pressure put on those companies to grant sub prime mortgages to persons who would be unable to repay those loans.

The democrat senators and representatives, who mandated that financial background checks be considered unnecessary and unwarranted, facilitated that irresponsible granting of mortgages to those unable to repay. The motive of the democrat members of Congress was strictly and blatantly partisan - to buy votes, and to maintain years of party support.

In 2005, John McCain co-authored a bill to investigate and regulate the faulty business practices of Fannie Mae and Freddie Mac, but that was opposed and defeated by the democrats in Congress.

On many occasions, President George W. Bush introduced proposals to regulate the mortgage lending companies, but those calls for regulation were opposed, obstructed, and defeated by democrats who were obsessed with the continuance of faulty lending practices.

In order to reform the financial sector, it is necessary that the sleazy politicians and top administration of those 2 mortgage companies who perpetrated fraudulent activity be publicly identified, investigated, and severely punished for their undermining the national economy.

It is only reasonable to expose the corrupt financial practices and their facilitators, and to remove them from any further activity, before any effort can be made to resurrect the American economy.
Otherwise, any attempt to do so will be useless, because the problems and perpetrators would still be present to frustrate and obstruct any meaningful remedial action.

Continued - A Proposal to Resolve the Fannie Mae and Freddie Mac Financial Fiasco

The first step toward economic recovery would be to isolate all sub prime mortgages from the assets of Fanny Mae and Freddie Mac, and to group the remaining viable ones into several stock options to be offered for sale to the public, and also as a bailout measure.

That would result in an immediate infusion of cash into the banking sector, thereby ensuring that credit could be granted to qualifying loan applicants.

Individuals or organizations who choose to buy those stock options should benefit additionally from any profits later realized by their investments.

Also, any profits resulting from the bailout option should be refunded to the INCOME TAX PAYERS only, since they would be the ones who would have financed the bailout.

Likewise, but separately, the various questionable sub prime mortgages should be bundled together into other stock options which would be structured to contain a mixture of both somewhat and less redeemable loans.

Those sub prime mortgage packages should be offered first to democrats, especially wealthy ones, who might be attracted to them by their being valued at a price of 80 cents on the dollar, based on the face value of the mortgages.
.
That would afford them the option to support what democrats viewed to be a noble cause (home ownership for the unemployed), and besides, it might enable the stock option buyers to profit by 20 percent if all of the sub prime mortgages would be somehow repaid by the homeowners.

Thus democrats, especially the likes of George Soros, Barack Obama, Ted Kennedy, Chris Dodd, Nancy Pelosi, Harry Reid, and Charlie Schumer (who supported the granting of sub prime mortgages irrespective of demonstrated ability to repay) would be able to ???put their money where their mouths are???!

Lastly, there should be a guarantee that no further sub prime mortgages be granted.
Home ownership is a GOAL for many financially responsible Americans - it is not a government sponsored RIGHT for all persons living legally and illegally in the US!