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2009-01-03 Home Front Economy

U.S. governors seek $1 trillion federal assistance

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Posted by Fred 2009-01-03 00:00|| || Front Page|| [2 views ] Top

#1 If everybody gets a bailout, who pays?

Posted by Glenmore">Glenmore 2009-01-03 00:46|| 2009-01-03 00:46|| Front Page Top

#2 Who pays the looters? The producers (aka. *you*) do. Who else?

Posted by CrazyFool 2009-01-03 00:50|| 2009-01-03 00:50|| Front Page Top

#3 Clearly the only thing better that 2 ea. 100-year USTreas Bonds is MANY = MILYUHNS AND ZILYUHNS AND TILYUHNS, ETC. OF SAME.

Its only $$$ = WEIRDLY COLORED PAPER???

Posted by JosephMendiola 2009-01-03 01:21|| 2009-01-03 01:21|| Front Page Top

#4 Screw the election,
JOE! For Treasury!

Posted by .5MT 2009-01-03 07:44|| www.cybernations.net]">[www.cybernations.net] 2009-01-03 07:44|| Front Page Top

#5 They've played and now they want others to pay because the bill is due and they know a tax revolt in their small 'stan will happen otherwise. Fine. You get the money and revert to territorial status forfeiting your Senators and Representatives in Congress until you get a statehood act passed both at home and ratified in Congress [and before you raise the point about taxing and representation, just look at D.C., nuff said]. Wonder how many governors would buy into that contract?

Posted by Procopius2k 2009-01-03 08:43|| 2009-01-03 08:43|| Front Page Top

#6 they should have handed the states the money before citigroup, AIG , and the automakers and who ever else has gotten money off this sham

Posted by rabid whitetail 2009-01-03 09:42|| 2009-01-03 09:42|| Front Page Top

#7 Like the auto bailout this money does not create new jobs, it is just to maintain jobs for politically connected unions.

Who pays for it? Monetizing the debt means that the middle class and foreign creditors will absorb the losses. Senior citizens living on fixed incomes will be hit particularly hard.

It should also be noted that maintaining these uneconomic jobs will prolong the recession, not shorten it. The silver lining of a downturn is the cleaning out of deadwood; bailouts maintain the deadwood at the cost of new growth. Winners will be those who have jobs; losers will be those looking for jobs. The next five years will be a poor time to come out of high school or college.

Posted by DoDo 2009-01-03 11:38|| 2009-01-03 11:38|| Front Page Top

#8 So why is it that in the zillion previous economic down cycles - which only anyone over 30 can really remember, so fantastic has the economy been for so long - state govts. never needed federal bailouts? And, ahemm, did these idiots not put away a dime for a rainy day?

Is anyone going to step up and say no to the leeches (public sector "unions")? Sorry, there are many good public employees, but "unionization" is an indefensible sham in this sector, and is literally bankrupting cities, states, and now potentially (and partly) the country.

Posted by Verlaine 2009-01-03 12:14|| 2009-01-03 12:14|| Front Page Top

#9 Verlaine, I don't know about states asking for bailouts, but I do remember New York City asking the feds for a bailout - in 1975 or so. The headline on the New York Post was "Ford to NYC - drop dead!". Abe Beame, of an unnamed party, was mayor at the time.

Posted by Rambler in Virginia">Rambler in Virginia 2009-01-03 13:26|| 2009-01-03 13:26|| Front Page Top

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