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02-06-2009, 10:59 AM #1
Geithner unveiling new financial stability plan Monday
Geithner unveiling new financial stability plan Monday
Even as the Obama administration struggles to sell a massive economic stimulus plan, Treasury Secretary Timothy Geithner is planning Monday to unveil a separate financial stability plan that could cost hundreds of billions of dollars more to buy up troubled assets from banks and more broadly deal with the credit crunch and foreclosure crisis, according to two senior administration officials.
Hundreds of billions of dollars...this is not the stimulus package, this is ANOTHER hundreds of billions of dollars. Seriously, I expected government spending to increase dramatically under Obama, but this will put the count at well over $1 trillion in a matter a few weeks. Any small hope I had that things wouldn't be so bad is quickly fading...
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02-06-2009, 11:16 AM #2
Not that I think this is a good idea but this is really just continuing the precedent set during the Bush administration.
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02-06-2009, 11:42 AM #3
Oh the spending precedent was set long before Bush, but you're right, a lot more of the same...but just because Bush has been doing it doesn't make it ok. So much for change I guess?
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02-06-2009, 11:49 AM #4
Yeah, I think most people agree at this point that these bank bailouts are wasteful. I mistook your original post as saying this was a program created by the current administration that was additional wasteful spending when I now see your beef was that it is continued wasteful spending, which I agree that it is
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02-08-2009, 11:20 PM #5
You think it's bad now ? All they're doing so far is pushing an "economic stimulus plan" and a "separate financial stability plan". Just wait till they get their mitts on the budget. Unless of course it's all part their overall fool the public plan. The one where they pass a trillion to a trillion and a half in "stimulus" spending and then when the budget roles around they cut military spending and pass a pretty sparse bill overall. Then the wizard pops out from behind the curtain and says "SEE, in the budget we cut spending overall and severely cut out the pork".
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