J-o-b-s

[oldhardhead]

That three-letter word that Biden told us about. J-O-B-S!

Oh, if the mainstream news media only did their job and held The One, Pelosi and Reid accountable for spending $787 Billion dollars...

Here is an in-depth, fact-filled story we can expect:

Biden says 'everyone guessed wrong' on jobs number

1 day ago

WASHINGTON (AP) — Vice President Joe Biden says "everyone guessed wrong" on the impact of the economic stimulus.

Biden says the economy was worse off than anyone thought when officials estimated the number of jobs that could be saved or created under the administration's $787 billion stimulus spending.

Biden says White House economists used standard formulas to estimate that 3.5 million jobs would be saved or created under the plan Congress passed earlier this year.

Biden says money is flowing out of Washington to help states and cities build roads, hire teachers and update infrastructure. He promised 600,000 new jobs in the coming months.

Biden appeared Sunday on NBC's "Meet the Press" from his hometown of Wilmington, Del.

The Associated Press: Joe Biden says "everyone guessed wrong" on jobs number

That's it?

Joe Tries to Spin, But Ends Up Twisting in the Wind Innocent Bystanders

Good thing they decided to $787 Billion dollars, the unemployment rate is 9.4 %, otherwise it would be 8.3%.

That sure makes me feel al warm and fuzzy, knowing that in order to justify spending $787 Billion, "everyone guessed."




Good job, geoff - whoever you are! All cross-referenced, too!

Correction to the May Unemployment Chart Innocent Bystanders

See those dots? Those are the actual unemployment numbers. We could make a "hockey stick" graph out of it, just draw a line straight up to 100% like Al Gore did with the temperatures!!!!



It just doesn't get any funner that this!!!

BTW: Specter the Defector was only one of 3 Republican Senators to vote for the Stimulus Package.





.

[blockerhead]

Bailing out bankers has been a fool's game for 95 years, but Dems and GOP alike.

Now we have foolish charts to look at!

[oldhardhead]

A note about TARP:

While it wasn't supposed to be used for buying car companies, it looks as if banks need permission to pay it back! Not only do they pay it back (to the government), they are paying interest on it until they do.

http://www.americanbanker.com/usb_ar...090609MC2D38V7

I'm not sure how much interest the Treasury Department is collecting:

TARP Warrants Show Banks May Reap ‘Ruthless Bargain’ (Update2)

May 22 (Bloomberg) -- Banks negotiating to reclaim stock warrants they granted in return for Troubled Asset Relief Program money may shortchange taxpayers by almost $10 billion if Treasury Secretary Timothy Geithner’s first sale sets the pace, data compiled by Bloomberg show.



While 17 financial institutions have repaid TARP funds, two have come to terms with the U.S. on the value of the rights to buy stock that taxpayers received for the risk of recapitalizing the industry. The first was Old National Bancorp in Evansville, Indiana, which gave the Treasury Department $1.2 million last week for warrants that may have been worth $5.81 million, according to the data.

Yippee! That's looking out for our best interest (HAHAHAHA- get it? I crack myself up), Timmy "Turbotax" Geithner!

If Geithner makes the same deal for all companies in the rescue program, lenders may walk away with 80 percent of the profits taxpayers might have claimed.

TARP Warrants Show Banks May Reap ‘Ruthless Bargain’

That's not the same as buying car companies... or the $787 Billion Spendulus Program...

[oldhardhead]

This just in:

Kill TARP, spare the taxpayer

Two members of Congress are looking to wind down the controversial bailout program sooner rather than later. But doing so may be easier said than done.

Rep. Jeb Hensarling, R-Texas, whose proposal would effectively shutter TARP by year's end, would prevent the Treasury Department from using any of the TARP money returned by banks to lend back out to other struggling firms.

A much bolder approach unveiled Thursday by Sen. John Thune, R-S.D., would require the government to sell its ownership interests by July 2010. It would also prevent the government from owning a piece of any U.S. company in the future.

Nice! Let's elect a "much bolder" Congress!

Lawmakers propose putting an end to TARP - Jun. 15, 2009

Somehow I don't think is will get past (or passed! HAHAHA!) The Big Three