TARP Billions Shipped Overseas


How is our government bail out program working?

What are you hearing about our economy in your workplace, among your friends and relatives?

Why is our government going the way it has gone? And no end is in sight in deficit spending?

Do you agree with the course and direction?

Is it just wishful thinking that someone in Washington would listen to the cries of constituents, and to suggestions for better solutions and alternatives?

November election would be a chance for you to make your voice heard, and hopefully for us to see some positive changes.

Please examine the records and ideologies of your candidates and VOTE.

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Excerpt from Newsmax article:

Tens of billions in TARP bailout money flowed out of the United States and into the coffers of big banks in France, Germany, and other nations during the government rescue of the U.S. financial system.

That news came as the U.S. economic picture continued to worsen, with rising unemployment claims and a surge in U.S. homes lost to foreclosure.

CATO Institute budget analyst Tad DeHaven tells Newsmax: “ ….. bailing out U.S. financial firms was bad enough — that foreign institutions also benefitted from the largesse just adds insult to injury.”

J.D. Foster, senior economics fellow at The Heritage Foundation, said: “The overwhelming force slowing the economy down now is a lack of confidence among American businesses and consumers. The primary reason for that lack of confidence is the policies out of Washington seem completely out of touch with that reality.”

Reports on the economy issued by the Congressional Oversight Panel on Thursday indicate the nation’s economic problems continue to worsen.

Adds Scissors: “All of this is very easy to anticipate. You have this massive government stimulus, and it automatically works for a while because they’re injecting money into the country, then it doesn’t work as well. That happened in the U.S. and it happened in China and it happened everywhere where government stimulus was relied upon as the savior. When you spend a lot of money the first year it has an effect, then the next year it doesn’t have that much of an effect. And that’s what we’re seeing now.”

Read entire article by David Patten at Newsmax, Thursday, 12 Aug 2010 02:04 PM
http://www.newsmax.com/Newsfront/tarp-bailout-global-overseas-obama-economy-recession/2010/08/12/id/367346?s=al&promo_code=A7CE-1

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About pnclaw

I am not a political activist, but I am paying attention to what's happening in our beloved country, especially for the sake of my grandchildren. I hope you are too.
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