TARP Will Cost the Taxpayers 23.7 Trillion Dollars!!!

Get ready for a financial firestorm tomorrow!

The inspector general of TARP, Neil Barofsky is about to reveal to Congress that taxpayers are being deceived about what banks are doing with the money they received from the Stinkulus Package.  Not only that, he will reveal that the Obama administration has been less than transparent about the government’s “investments”  in that the American taxpayers do not know the full extent of how that money is being invested.  And, the most shocking part will be when he announces that TARP will cost us 23.7 trillion dollars!!!

This follows on the heels of a report that came out today in which  Barofsky’s office noted that banks have used government money for purposes other than increased lending, whether to build up capital cushions, repay debt or help finance acquisitions of other banks.

And, as a side note, Barofsky’s office has opened 35 criminal and civil investigations into issues related to TARP  including suspected accounting fraud, securities fraud, insider trading, mortgage servicer misconduct, mortgage fraud, public corruption, false statements and taxes.

Click HERE to read an advance copy of Neil Barofsky’s speech he plans to deliver to lawmakers tomorrow.

US could spend 23.7 trillion dlrs on crisis: report

(AFP)

WASHINGTON — The United States has pledged up to 23.7 trillion dollars to confront the worst recession in decades and shore up the weakened financial system, a government investigator said Monday.

Neil Barofsky, the special inspector general of the Troubled Asset Relief Program (TARP), said that enormous government support has ballooned in the nine months since the creation of the TARP, initially valued at 700 billion dollars.

[…]

“The total potential federal government support could reach up to 23.7 trillion dollars,” Barofsky said in remarks submitted to the House Committee on Oversight and Government Reform.

[…]

The special investigator’s testimony was released amid growing criticism of President Barack Obama’s handling of the economy, which entered recession in December 2007.

[…]

Of course, the Obama administration is in full-on damage control mode, claiming that the $23.7 trillion figure is “inflated:”

Andrew Williams, Treasury Department spokesman, said the $23.7 trillion estimate is “inflated” and that actual outlays are less than $2 trillion so far. Williams said Barofsky’s projection doesn’t account for “fees and other charges that compensate the U.S. taxpayer,”  and “does not provide a useful framework for evaluating the potential exposure.”

Illegal vs Legal

Hat tip to Linda for sending this in.

To good not to share. The bottom line folks, resources are always limited and with an illegal in the white house, it is going to get worse and may never get better. Remember folk’s the incumbents caused this; some through direct support and some failed to protect your interests, vote them all out in 2012. Do your part for America-put incumbents on unemployment

Here is an example of why hiring illegal aliens is not economically Productive for the State of California …or the US !

You have 2 families…”Joe Legal” and “Jose Illegal”. Both families have 2 parents, 2 children and live in California .

Joe Legal works in construction, has a Social Security Number, and makes $25.00 per hour with payroll taxes deducted….Jose Illegal also works in construction, has NO” Social Security Number, and gets paid $15.00 cash “under the table”.

Joe Legal…$25.00 per hour x 40 hours = $1000.00 per week, ($52,000 per year). Now take 30% away for state & federal tax Joe Legal now has $31,231.00

Jose Illegal…$15.00 per hour x 40 hours $600.00 per week, ($31,200.00 per year). Jose Illegal pays no taxes… Jose Illegal now has $31,200.00

Joe Legal pays Medical and Dental Insurance with limited coverage $1000.00 per month ($12,000.00 per year.) Joe Legal now has $19,231.00

Germany: 2007 NIE Report On Iran’s Nuclear Program was Wrong!

No surprise there.  The political Lefturd winds were blowing hard against Bush and his desire to use military force against Iran back in 2007.  So, we all knew the 2007 NIE report was falsified by the Democrats in an effort to tie Bush’s hands.

Germany’s Spies Refuted the 2007 NIE Report
‘Work on nuclear weapons can be observed in Iran even after 2003’

By BRUNO SCHIRRA  |  FROM TODAY’S WALL STREET JOURNAL EUROPE.

President Obama has committed to trying diplomacy to stop the Iranian bomb. Time, though, is on the mullahs’ side, not least because so much of it was wasted after the 2007 U.S. National Intelligence Estimate made the improbable case that Iran had suspended its nuclear weapons program in 2003. This assessment not only contradicted previous U.S. intelligence consensus but — as recent court documents show — also the conclusions of a key U.S. ally with excellent sources in Iran — Germany.

[Uhm, no…  Obama is NOT committed to trying to stop the Iranian bomb.  If he were “committed,” he wouldn’t be so supportive of Iran’s nuclear program.   Need I remind you of his remarks in Egypt:  “… any nation – including Iran – should have the right to access peaceful nuclear power if it complies with its responsibilities under the nuclear Non-Proliferation Treaty.”  ]

The Bundesnachrichtendienst (BND), Germany’s foreign intelligence agency, has amassed evidence of a sophisticated Iranian nuclear weapons program that continued beyond 2003. This usually classified information comes courtesy of Germany’s highest state-security court. In a 30-page legal opinion on March 26 and a May 27 press release in a case about possible illegal trading with Iran, a special national security panel of the Federal Supreme Court in Karlsruhe cites from a May 2008 BND report, saying the agency “showed comprehensively” that “development work on nuclear weapons can be observed in Iran even after 2003.”

According to the judges, the BND supplemented its findings on August 28, 2008, showing “the development of a new missile launcher and the similarities between Iran’s acquisition efforts and those of countries with already known nuclear weapons programs, such as Pakistan and North Korea.”

It’s important to point out that this was no ordinary agency report, the kind that often consists just of open source material, hearsay and speculation. Rather, the BND submitted an “office testimony,” which consists of factual statements about the Iranian program that can be proved in a court of law. This is why, in their March 26 opinion, the judges wrote that “a preliminary assessment of the available evidence suggests that at the time of the crime [April to November 2007] nuclear weapons were being developed in Iran.” In their May press release, the judges come out even more clear, stating unequivocally that “Iran in 2007 worked on the development of nuclear weapons.”

Prediction: Budget Deficit to Top 2 Trillion Dollars by the End of This Year

So, I was sitting here wondering why Obama is afraid to release his revised budget forecast.

Then, it hit me:  The projected budget deficit is probably a lot higher than the CBO’s old estimate of 1.85 trillion dollars.   Now, a mere 100 billion dollars wouldn’t be too much of a concern for Obama and company—they can always gloss that one over.  However, add another 150 billion dollars and there is no way to hide that nasty first digit ticking upwards from a one to a two…

Therefore, I am predicting that the revised estimate of the budget deficit will meet or exceed 2 trillion dollars!

Let’s see if I’m right…

New RNC Ad Targets Obama’s Risky Policies

This RNC ad was released by Michael Steele this morning.  It will first air in Arkansas, Nevada, and North Dakota:

Representative Mike Castle Gets Grilled Over Obama’s Birth Certificate at Delaware Town Hall Meeting

H/T – Gateway Pundit

Dems Getting “Jittery” About Obama

I took the liberty of removing most of the Libtard spin and rationalization from the following article.  You can read it in its entirety by CLICKING HERE.

Obama still enjoys high support, but even some Dems are getting jittery
BY Thomas M. Defrank – NY Daily News
DAILY NEWS WASHINGTON BUREAU CHIEF

WASHINGTON – For Barack Obama, the honeymoon endures. Nirvana is over.

Six months later into his historic presidency, Obama retains the benefit of the doubt with most Americans.

[…]

For the first time, however, doubts are growing that Obama’s trillion-dollar stimulus is too glacial and may not be robust enough to cure the sick economy.

[Uhm, excuse me?  This might be the first time the media has decided to notice all those growing doubts, but there were plenty of us from day one who were warning everyone!  We can’t help it if the Lame Stream Media is infested with a bunch of “psychophants” and idiots.]

Some jittery Democrats, moreover, whisper that his legislative agenda – particularly an energy bill and the health care reform package – may be too ambitious for the end-of-the-year deadline Obama has imposed.

“I’m nervous,” a Democratic operative close to the Obama White House admitted. “He’s set the bar so high that if we don’t get energy and health care, the press will eat him alive.”

Another prominent Democratic consultant echoes the yips from even some true believers:

“It could be great, it could be a disaster.”

[…]

Many political analysts attribute his poll slippage to escalating public unease about the anemic pace of economic recovery – and suspicions Obama’s gold-plated economic team didn’t grasp how dire a situation they confronted on Jan. 20. Even Vice President Biden recently acknowledged “we and everyone else misread the economy.”

“We always knew it was going to get worse before it got better,” an Obama loyalist moaned. “But it got worser.”

[Worser???  LOL!  Just remember, that bastardization of the English language was brought to you via a typical Obama supporter…]

[…]

“He’s really gotten a pretty damn good ride when you consider what he [hasn’t] done for the economy,” said a Republican insider friendly with Obama. “This is the longest honeymoon in recent memory, but it’s starting to turn. Even the press is becoming more skeptical.”

[…]

Google Unemployment App

I just ran across an excellent app over at Google that allows you to graphically track the unemployment for your state and then compare that with how other states stack up.

You can also use it to track unemployment rates by individual counties in your state.

Click on the following image to use the app:

More Evidence of Obama’s Slide Down the Crapper

2012 Match-ups: Obama, Romney Tied at 45%; Obama 48%, Palin 42%

Monday, July 20, 2009 – Rasmussen

If the 2012 presidential election were held today, President Obama and possible Republican nominee Mitt Romney would be all tied up at 45% each, according to a new Rasmussen Reports national telephone survey.

The president, seeking a second four-year term, beats another potential GOP rival, Alaska Governor Sarah Palin, by six points – 48% to 42%.

In both match-ups, seven percent (7%) like some other candidate, with three percent (3%) undecided.

[…]

Somali Muzzie Gangs on the Rise in the U.S. and Canada

Here’s how you stop gang violence:  Unleash the Mafia!—It’s the lesser of the two evils.

Sure, it will be bloody and all at the beginning, but when the dust settles, the little wannabe gangstas will all run away with their tails tucked firmly between their legs.

Yup, better to deal with a predictably corporate Mafia than a bunch of hoodlums who think it’s cool to shoot innocent women and children.

Minnesota Neighborhoods Struggle With Rise of Somali Gangs

Monday, July 20, 2009 – Fox News

MINNEAPOLIS —  Ahmednur Ali’s family fled the chaos and violence of their East African homeland Somalia in the 1990s, eventually making their way to Minnesota like thousands of their compatriots.

[Thank you, Janet Reno!]

[…]

[Ahmednur Ali] was shot and killed last September outside a busy community center where he worked part-time as a youth counselor, and prosecutors said the 16-year-old accused of killing him was part of a gang.

[…]

“It was all gang activity, totally, 100 percent,” said Shukri Adan, a former Somali community organizer who estimated in a 2007 report for the city that between 400 and 500 young Somalis were active in gangs. “The police don’t want to say that but everybody else knows that.”

[Yup, that’s the police protecting the image of Islam…]

Despite anger and despair over the killings in Minnesota’s Somali community — the nation’s largest — police and prosecutors have struggled to catch and try the killers. Few witnesses have stepped forward because of a fear of reprisal and deep-rooted distrust of authority. More than half of Minnesota’s Somalis are living in poverty, according to state statistics, and many complain that authorities are biased against Somalis because of their Islamic faith.

[Yup, you just knew the victim card was going to be played eventually.  It’s the Muzzie way of deflecting attention and blame…]

[…]
Investigators in a separate criminal investigation have said they’ve also had trouble penetrating Minnesota’s Somali community.

[…]

Elsewhere in the U.S. and Canada, police and community officials have reported an increase in Somali gang activity.

In and around Edmonton, Alberta, six young Somali men have been slain in the last six months.

[…]

Police in Columbus, Ohio, which has the second largest U.S. population of Somalis, have also seen growing evidence of Somali gangs, said Sgt. Chantay Boxill.
[…]