Author Topic: Obama's wasteful plan of the day  (Read 252 times)

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Offline Questor

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Obama's wasteful plan of the day
« on: December 15, 2008, 03:54:53 AM »
What's today's crazy wasteful Obama scheme?

We can seed the list with the auto bailout that will happen with him if Bush doesn't waste our money on it first.

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Offline Questor

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Re: Obama's wasteful plan of the day
« Reply #1 on: December 15, 2008, 10:10:32 AM »
Here's today's (from Bloomberg.com):

Treasury Benefits From Massive Paranoia as Rates Fall (Update3)
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By Matthew Benjamin and Liz Capo McCormick

Dec. 15 (Bloomberg) -- Bill Clinton was forced to abandon spending initiatives to boost the economy at the start of his presidency when advisers warned him that the borrowing needed to fund the programs would push interest rates higher. President- elect Barack Obama may not have the same problem.

While the total amount of U.S. government debt outstanding rose to $10.7 trillion in November from $9.15 trillion a year earlier, the amount of interest paid in the last two months fell by $10 billion, according to the Treasury Department.

Instead of shunning the U.S., where losses on subprime mortgages in 2007 triggered a global seizure in credit markets that led to the downfall of securities firms Bear Stearns Cos. and Lehman Brothers Holdings Inc., investors can’t get enough Treasuries. Even as estimates of Obama’s stimulus package and the budget deficit rise to a record $1 trillion, demand continues to increase as investors flee risky assets around the world and put their cash into U.S. bonds paying, in some cases, nothing in yield just to ensure the return of their principal.

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