Obama's Best Moment

[....lybob]

You mean the majority of the funds that have been repaid within 2 yrs? Especially the profits made by the government from the repayments by the evil bankers? So what's that total amount spent again?

Does rolling Fed loans over count as repaying and does the Fed taking toxic assets at pre-crisis value count as profit.

[Da Big Man]

Obama* has had NO good moments! Just like I said 2 years ago.

[birdog1960]

There is a tax cut as they will temporarily cut the payroll tax for workers--finally, someone gets it. Now if only they can get Bernanke to buy those Trust fund treasuries...

this... is this the slippery slope to the more rapid demise of social security? couldn't force or politically stomach the cutting of benefits or an age eligibilty increase so they cut its funding pushing accelerated insolvency,? how does anyone see this move ending well for anyone except those few who won't need ss benefits at retirement? there has been a dearth of reporting on this. where is the alarm?

Edited December 8, 2010 by birdog1960

[/dev/null]

Speaking of Obama's best moment, don't forget to catch him on Mythbusters

[Jim in Anchorage]

As this deal is taking form to extend Bush tax cuts and other things to get the unemployment benefits extended, it's really time to give Obama the credit he deserves for finally working with the GOP to get some important things accomplished. This isn't to say that I'm happy with the extension of the unemployment as I'm of the mindset that 3 freaking years of unemployment benefits does much more harm than good. In fact, this isn't about the specifics of the deal at all. In working with the right, Obama is showing a willingness to address important issues regardless of political fallout, especially as the left starts crying about him breaking his promise on the tax cuts, and he brings it home with this important comment from yesterday: "I'm not willing to let working families across this country become collateral damage for political warfare here in Washington."

 

While I have no problem giving a good share of the blame for fostering the current state of political warfare in DC, if he can continue to find ways to truly be a bipartisan president, it bodes well for everyone. I'm not sure it's in his idealogical makeup, but this is a good start and I'm willing to cut him a lot of slack if he keeps moving in this direction.

 

It's really his best moment to date.

You do understand he has no real interest in any of these issues, or any others. The elections woke him up from his 2 year"I am the president" Drunk and shocked him that more then "change you can believe in" speech's will be required to buy him rides on Air Force one for a second term.

[Peace]

MY friend's wife got laid off and has been getting enjoyment benefits for 2 years now. She's 100% employable but sees no reason to return to work when she can get so much money for doing nothing. She's not even the least bit apologetic for her attitude and thinks it's hilarious that they keep extending the benefits. Both times she was about ready to start looking for a job, she got extensions. In her last email to me, she said, "Thanks Uncle Barack." She knows I want to kill her but I love her so I'm conflicted.

 

But since it was done with bipartisan support and combined with a tax cut, it is Obama's "best moment" and I guess I should "cut him a lot of slack."

Edited December 9, 2010 by Peace

[TPS]

Had none of that money ever been paid back the initial argument would be weaker still. Throwing money into something means you have less to throw into something else regardless of whether you deem the latter more worthy. It's very basic common sense.

Not when the Fed is throwing it!

[Magox]

This is what Washington DC looks like whenSausageis made:

 

Administration officials, including Vice President Joe Biden, fanned out across Washington to press their case, offering grim warnings about the consequences of doing nothing, possibly even a double-dip recession.

 

“If they don’t pass this bill in the next couple weeks, it will materially increase the risk that the economy would stall out, and we would have a double dip,” said National Economic Council Chairman Larry Summers at a White House briefing.

 

The economic message appeared to resonate with members, but the White House remained on defense.

 

At a meeting with Biden, House members received bar graphs intended to show that Republicans, not Democrats, got the raw deal. A blue bar labeled “What We Got” was about twice the size of the red one marked “What They Got.”

 

So that's what it comes to, "what we got" and "what they got"

 

nice

[Chef Jim]

MY friend's wife got laid off and has been getting enjoyment benefits for 2 years now. She's 100% employable but sees no reason to return to work when she can get so much money for doing nothing. She's not even the least bit apologetic for her attitude and thinks it's hilarious that they keep extending the benefits. Both times she was about ready to start looking for a job, she got extensions. In her last email to me, she said, "Thanks Uncle Barack." She knows I want to kill her but I love her so I'm conflicted.

 

But since it was done with bipartisan support and combined with a tax cut, it is Obama's "best moment" and I guess I should "cut him a lot of slack."

 

I don't love her. Where does she live?

[Passepartout]

There are people who would love to "have no work and get paid." Sadly that isn't the real world unfortunately.

[GG]

Had none of that money ever been paid back the initial argument would be weaker still. Throwing money into something means you have less to throw into something else regardless of whether you deem the latter more worthy. It's very basic common sense.

 

As Fed's unofficial title is "a lender of last resort" I'd say it was a good use of funds considering the abyss they were staring at on Sept 18, 2008. I wish all federal programs had a return on investment like TARP, which of course no one knew for certainty in '08, but what was near certain to people who understood the crisis is that not intervening would have been far worse. Once Paulson decided to let Lehman go, the dominoes were falling fast because like it or not, the financial system is a complex set of dominoes.

[Peace]

I don't love her. Where does she live?

 

You should hate her! South Jersey. Want me to make it worse? Her husband makes a TON of money so all she's doing is collecting the money just for "fun" stuff.

 

But the system isn't broken right?

[TPS]

As Fed's unofficial title is "a lender of last resort" I'd say it was a good use of funds considering the abyss they were staring at on Sept 18, 2008. I wish all federal programs had a return on investment like TARP, which of course no one knew for certainty in '08, but what was near certain to people who understood the crisis is that not intervening would have been far worse. Once Paulson decided to let Lehman go, the dominoes were falling fast because like it or not, the financial system is a complex set of dominoes.

Government, the ultimate "by low, sell high" investor. I like it.

[GG]

Government, the ultimate "by low, sell high" investor. I like it.

 

And no one will go after them for insider trading. Nice gig.

[Rob's House]

As Fed's unofficial title is "a lender of last resort" I'd say it was a good use of funds considering the abyss they were staring at on Sept 18, 2008. I wish all federal programs had a return on investment like TARP, which of course no one knew for certainty in '08, but what was near certain to people who understood the crisis is that not intervening would have been far worse. Once Paulson decided to let Lehman go, the dominoes were falling fast because like it or not, the financial system is a complex set of dominoes.

I provided no opinion on this whatsoever, so if you're just adding additional info for the sake of sharing your opinion on the subject, that's cool, but if you are arguing with someone I'd like to know who it is.

 

You should hate her! South Jersey. Want me to make it worse? Her husband makes a TON of money so all she's doing is collecting the money just for "fun" stuff.

 

But the system isn't broken right?

In that case I might be able to justify by thinking along the lines that the govt is already jacking you out of a hefty portion of your household earnings, and you've found a loophole to get some of it back.

Edited December 9, 2010 by Rob's House

[Chef Jim]

You should hate her! South Jersey. Want me to make it worse? Her husband makes a TON of money so all she's doing is collecting the money just for "fun" stuff.

 

But the system isn't broken right?

 

And the B word about it is that it's completely above board. I never thought about this that unemployment does not take into consideration the amount of household income before cutting a check. That is something that needs to change now.

[Peace]

And the B word about it is that it's completely above board. I never thought about this that unemployment does not take into consideration the amount of household income before cutting a check. That is something that needs to change now.

 

"Above board" is right. When she first got fired, she couldn't believe she was entitled to it. So why say no? Since then, the check keeps coming.

 

A "ton" is relative but he makes about 200K/year--certainly enough to live off. She gets something like $1800/month after being fired from a job where she worked straight 9-5 and made 40-50K/year.

 

Salt in the wound? She's doing a little under the table work now because she's bored.

Edited December 9, 2010 by Peace

[whateverdude]

This very well may benefit them politically going into 2012. They will want to use the class warfare argument as a central piece of their theme, and frankly it may play well into their hands.

 

Not a chance the class warfare works IMO. It didn't work for Mondale and it will not work for Obama

[Chef Jim]

"Above board" is right. When she first got fired, she couldn't believe she was entitled to it. So why say no? Since then, the check keeps coming.

 

A "ton" is relative but he makes about 200K/year--certainly enough to live off. She gets something like $1800/month after being fired from a job where she worked straight 9-5 and made 40-50K/year.

 

Salt in the wound? She's doing a little under the table work now because she's bored.

 

How is she collecting unemployment after getting fired?

[Peace]

How is she collecting unemployment after getting fired?

 

Sorry. I said fired because I see everything as a firing. Her group was downsized from 2 people to 1.