"This is one more reason for our children and grandchildren to hate us. Yet, we've arrived at this moment and what can we do?"

but the bailout is working, you said so!
I'll tell you something we can do: put conditions on the money (as we should have from DAY FUCKING ONE) to make sure it's used for lending and not bonuses, salaries, bank acquisitions, and parties for executives.

And you know i saw this and predicted this from day one. what kind of dumbass motherfucker gives away free money with no conditions and then acts surprised when it wasn't used as the dumbass motherfucker intended? That's all I'm hearing from people who should have known better, the whole "who could have predicted" line.  

John Mccain Called his wife WHAT??

Obama and the centrist Dems have already ensured that the deficit spending will not be going to  help average Americans.  Rather,  trillions of dollars has already been given to the criminals that caused this problem in the first place.  It's too late. You're a couple of months behind the times.  As you wanted.  You and Obama were willing to let Bush and Paulson rob  the treasury because you didn't want any political troubles for the election.  The politics of the bailout was a huge gift to Obama--but his actions screwed this country for a long time and ensured that the deficit spending would be done at the behest and for the benefit of Wall Street.  You are a certifiable sucker if you say otherwise.

Obama's instincts were to support Bush, Paulson and the Wall Street financiers and now the money is spent--of course they are engaging in accounting gimmicks so that we don't know how much they have already spent until way after the fact.

I was telling you way back before this banker's bailout boondoggle was passed that the bank welfare the centrist Dems and the Republicans wanted to give Wall Street was far more than stated $700 billion and you were buying the sucker's line that the taxpayer was going to make money on the deal!!!!! (in your defense you were just repeating the garbage Obama was spouting)  One would have to be a economic rube to buy the argument that the U.S. taxpayer is going to come out ahead after all this bank bailing.

It's not hard to understand.  Like a family budget the American budget is limited before we blow up with too much debt.  It very well could be too late already.  The original Paulson plan (both official legislation and letting Bair and Bernake act and ask for forgiveness later) was to give him and Bernake and Bair the keys to the treasury and let them give the money to banks and financial crooks so that the Banks could be compensated for their disasterously wrong bets and so that they would then have enough on their balance sheets to lend to us regular people again (at interest of course).  It's the whole supply-side Republican belief system--which is also Obama's belief system.  Give money to the richest of the rich and let it trickle down to us little people.  Forget that crimes were committed and forget that these rich people earned huge profits from the deregulated markets.

Forget that all of this is unsustainable and is what got us in this predicament in the first place.  Give to the rich and borrow from the average American.  

And guess what.  The new spending bill is going to be just like the Sring 08 stimulus bill.  Remember that?

We're fucked.  Thanks to the centrist Dems the last remaining money will go to the bankers and criminals.   Instead of receiving indictments they are receiving invitations to sit at the table with Obama.  

based on these statements l presume that there will be, by default, no tax cuts for the middle and lower classes...the real consumers...either. or did l miss something?

this coming friday is the traditional black friday shopping day that establishes the mind set and consumption trends for the holiday season. l suspect it's going to be worse, much worse, than expectations suggest...and they're not particularly cheerful and upbeat.

one more gamble on trickle down?. "voodoo economics" anyone?

good luck.

an aside re; this :

...we are going to ask foreign banks to flood the zone with cash and we'll pay it back later. This is one more reason for our children and grandchildren to hate us. Yet, we've arrived at this moment and what can we do?...

this little AFP news nugget slipped by with hardly a whimper of acknowledgement by the msm, or anyone else...chimpy calls in some chits:

US seeks 300 billion dlrs from Gulf states

KUWAIT CITY (AFP) - The United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait's daily Al-Seyassah reported Thursday.

Quoting "highly informed" sources, the daily said Washington has asked Saudi Arabia for 120 billion dollars, the United Arab Emirates for 70 billion dollars, Qatar for 60 billion dollars and was seeking 40 billion dollars from Kuwait.

Al-Seyassah said Washington sought the amount as "financial aid" to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.

The daily said the United States plans to use the funds to help the ailing automobile industry , banks and other companies suffering from the global financial turmoil.

...

The four states are estimated to have amassed close to 1.5 trillion dollars in surplus in the past six years due to high oil prices that rocketed above 147 dollars in July before sliding to just above 50 dollars.

h/t peak oil

the plutocracy is still running the game.

the revolution will not be televised...

I guess Matt Stoller jumped ship today. Frankly at this point I don't blame him. I can't even imagine 7.4 Trillion. Bush, Cheney and the rest needs to be stripped of all their wealth.

What I don't get is Obama's apparent message that he's not even going to implement the inadequate upper-bracket tax hike he himself proposed. There will never be a better time to justify a tax restructuring that brings the brackets close to Eisenhower-era levels. Tax policy is the very heart of government, but Obama doesn't seem to want to want to touch it. I can only hope he'll make up for that once he's president.

FDR's response to progressive demands: "I agree. Now go out and make me do it."

with fiscal conservatism.

If National Income=Output=Total Spending

Total Spending =Consumption + Investment + Net Government Spending + Net Exports

National Income=Consumption + Investment + Net Government Spending + Net Exports

We are experiencing a decline of Consumption and Investment and with farther declines in foreign income and spending we cannot increase net exports. This leaves only one entity capable of spending and that is government. Increasing taxes simply decreases the net of government spending. The danger right now is not deficit spending but that we will not allow the deficit to expand enough.

At the point the economy returns to something close to full employment would be the time re-evaluate the fiscal situation and determine what we need to do reduce the deficit.