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Tag Archives: office of management and budget
U.S. Budget Deficit Officially at $1.299 Trillion in FY 2011
The so-called Super Committee is already gridlocked over how to decrease the budget deficit, and that very likely means nothing will be done about the deficit until after the 2012 elections as both parties in a dysfunctional Washington maneuver for election advantages. Continue reading
Posted in auto news, economy, news analysis, people, results
Tagged 2011 fy budget, auto informed, auto news, autoinformed, autoinformed.com, automotive news, jacob lew, Ken Zino, obama administration, office of management and budget, omb, timothy geithner, u.s. 2012 budget, u.s. federal deficit, u.s. treasury, zino
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Troubled Asset Relief Program Report – Same Villains
Lawmakers created the TARP in 2008 to stabilize the roiling financial markets. Given what appears to be universal Republican intransigence on guaranteeing US Treasury repayment of the huge amount of debt piled up considerably during the Trump Administration, and the ongoing Republican folly of tax-cuts for the wealthy and other forms of corporate welfare, it appears that the US is once again headed for a crash in the financial markets, a recession and perhaps a resulting global depression. If another bailout is needed to provide stability in financial markets by purchasing and guaranteeing “troubled assets,” let’s hope we learn from the past and awaken to the idea that bailed out banks and financial institutions will have to give taxpayers equity in the institutions commensurate with the amount of money given them. Continue reading →