6.3 Billion Tax Dollars

Twodogs · #1 03-13-2010, 10:04 AM

Gone forever. That's how much (to date) has already been forgiven on the GM bailout. It's just gone, vaporized, never to be seen again.

And while I'm bitching, the interest on the National debt (the money we actually have to pay) went up 65% last year. Hope and change my ass.

Charles · #2 03-13-2010, 10:10 AM

Quote:

Originally Posted by Twodogs

Gone forever. That's how much (to date) has already been forgiven on the GM bailout. It's just gone, vaporized, never to be seen again.

And while I'm bitching, the interest on the National debt (the money we actually have to pay) went up 65% last year. Hope and change my ass.

Not to worry, my friend, you won't have to pay it back...unless you have assets.

Chas

Twodogs · #3 03-13-2010, 10:13 AM

Quote:

Originally Posted by Charles

Not to worry, my friend, you won't have to pay it back...unless you have assets.

Chas

Doh!

Charles · #4 03-13-2010, 10:18 AM

Quote:

Originally Posted by Twodogs

Doh!

But if it saves but one tiny little chile, it's worth it.

That way, he can work his entire life to pick up the tab.

Chas

Twodogs · #5 03-13-2010, 10:24 AM

Quote:

Originally Posted by Charles

But if it saves but one tiny little chile, it's worth it.

That way, he can work his entire life to pick up the tab.

Chas

Isn't that sad?

Have you noticed the young people now that have finally figured out they are getting the bill. We have apprentices in our Local that have been brainwashed democrats, that are starting to ask questions. You should see how quickly the Union brass get enraged by just a single question or two.

Boreas · #6 03-13-2010, 10:32 AM

Hey, TD, I didn't hear about this. Got a link? Not so hot if it's true.

John

Twodogs · #7 03-13-2010, 10:37 AM

It's the Obama administrations number http://in.news.yahoo.com/137/2010031...izes-trea.html

Sandy G · #8 03-13-2010, 10:58 AM

Screw it. I'm 53, w/diabetes, hi-blood pressure, yadda, yadda, yadda. I've got maybe 20 years left, tops. After that, I could really give a shit one way or another. I didn't make the mess, I wasn't asked my opinion in the 1st place, & they won't ask me how to clean it up, 'cause the feckin' politicos KNOW everything, anyway. But it IS a shame our generation is gonna leave stuff in such a cocked-up mess for someone else to straighten out...

Boreas · #9 03-13-2010, 11:04 AM

Quote:

Originally Posted by Twodogs

It's the Obama administrations number http://in.news.yahoo.com/137/2010031...izes-trea.html

Thanks for the link, TD. Just in the interest of clarity, this isn't part of Obama's auto bailout. It's part of Bush's bank bailout from 2008. It's GMAC, not GM.

Yes, the Obama Administration doubled down and gave GMAC more money but the decisions that are criticized in the piece were Bush's. If GMAC had been put in bankruptcy, the article argues, and allowed to restructure the company and its debt, they might well be healthier today.

I wonder whether it's still possible to do that.

John

noonereal · #10 03-13-2010, 11:06 AM

Quote:

Originally Posted by Twodogs

Gone forever. That's how much (to date) has already been forgiven on the GM bailout. It's just gone, vaporized, never to be seen again.

And while I'm bitching, the interest on the National debt (the money we actually have to pay) went up 65% last year. Hope and change my ass.

Curious, what would the cost have been had GM gone under?

I mean I understand that your $21 would have been kept in your pocket but what would the ramifications of this have been?