TARP has potential to hit $23.7 trillion

[CrAz3D]

http://abcnews.go.com/Business/Politics/story?id=8127005&page=1

I'm pretty much at a loss for words.  We've obliged $24 trillion dollars?  I just...uhm, yeah....wow.  WTF are we going to do with that kind of money being spent?  How could that ever be paid off?  We're sooooooooo screwed.  This is probably the beginning of the end.

[Newby]

Of all the things my dad has said, something to the extent of "Obama has loaned or obligated $12 trillion since his start in office" has been his favorite thing to say.

But hey, apparently spending fixes debt. The logic is obviously there!!

"The potential financial commitment the American taxpayers could be responsible for is of a size and scope that isn't even imaginable"

Essentially, taxes+++++++++++++++.

"This administration promised an 'unprecedented level' of accountability and oversight, but as this report reveals, they are falling far short of that promise," Issa said. "In fact, the Treasury Department is actively obstructing transparency. The American people deserve to know how their tax dollars are being spent -- especially considering they are the ones who are footing the bill."

I lol'd. Is it even possible to account for all the trillions he's spent anymore?

[Warrior]

Of all the things my dad has said, something to the extent of "Obama has loaned or obligated $12 trillion since his start in office" has been his favorite thing to say.

Bullshit.

From the article:

It includes estimates of the maximum cost of programs that have already been canceled or that never got under way.

It also assumes that every home mortgage backed by Fannie Mae or Freddie Mac goes into default, and all the homes turn out to be worthless. It assumes that every bank in America fails, with not a single asset worth even a penny. And it assumes that all of the assets held by money market mutual funds, including Treasury bills, turn out to be worthless.

It would also require the Treasury itself to default on securities purchased by the Federal Reserve system.

But hey, apparently spending fixes debt. The logic is obviously there!!

How about instead of wasting your time trying to discredit time tested, historically vindicated, and cost effective economic measures, you actually research the FUD you spew.

Consider this myth busted, now go find another Obama smear so I can knock it down as well.

[deadly7]

Bullshit.

I C WUT U DID THERE, POSTIN' LINKS TO ARTICLES WHAT CAN'T BE ACCESSED AND SHIT.

[CrAz3D]

Did anyone say it was for sure?  No.  POTENTIAL.  Do we need to buy you a dictionary for your birthday?

[MyndFyre]

Did anyone say it was for sure?  No.  POTENTIAL.  Do we need to buy you a dictionary for your birthday?

*whiny voice* DIDN'T you see that he said the MYTH WAS BUSTED????

[iago]

Bullshit.

I C WUT U DID THERE, POSTIN' LINKS TO ARTICLES WHAT CAN'T BE ACCESSED AND SHIT.

Signing up for NYTimes is free. Better yet, install the BugMeNot addon for your browser. Then you can just right click and "log me in!"

[Blaze]

Better yet, I didn't have to log in at all.  ???