Everytime this guy, this fake, leaves the safety and comfort of this closest friend–Telly, the teleaprompter he suffer withdrawl and foot-in-mouth disease. This boy, this great leader is truely an empty suit. He is nothing without his handlers. Sad, but true.
HAHAHAH OMG that is the best thing eeeevvvaaaahhhhhhh i shall now and forever refer to the one as the TOTUS and i shall also call him the telepromter any time th econversation around the office refers to him,, thank you! there is a GOD in the univerise with a wonderful sense of humor!!!!
NotYou
15 years ago
Do you mouth breathers really not remember Bush? You know, the last president who couldn’t put two words together without tripping over his own tongue? Even WITH a teleprompter?
@NotYou: Yeah, we do remember Bush . And we remember that with or without a teleprompter he made LESS gaffes than the idiot Obama. And Bush didn’t need a teleprompter for every single announcement he made.
We also remember his Administration was much more competent and focused than the current collection of kiddies now playing government in the White House.
P.S. Back to topic, sort of. My latest video is climbing the charts fast with over 7,400 views since it’s debut earlier this week:
This guy does make Bush the Younger sound dang good. Pres. Bush made light of himself, but not at the expense of the Special Olympics. Obama is Sofa King! Wee Todd did.
ruaqtpi2
15 years ago
Since this White House occupant is our Teleprompter President (TP), shouldn’t we be allowed to TP (toilet paper) his house for fun?
@ruaqtpi2: Interesting idea Jeff V. but you know if we TP’s the White House that’s one time Dems would insist on enforcing the law. Unless of course we got illegal aliens to do it.
BackwardsBoy
15 years ago
Mike, you owe me a keyboard AND a monitor from the coffee spew!
ruaqtpi2
15 years ago
@Mike,
Think about it; this could work perfectly for the Administration:
– Michelle Obama wants seniors to earn their Social Security payments (ignoring for a moment that they’ve already earned them, since it’s their money from past paycheck deductions and deferred payments from previous employer[s].) Michelle could ask/require D.C. seniors to do the cleanup.
– Barack wants to cut back on the costs of Medicare, and Budget Director Orszag wants to kill the Medicare Advantage program. Since a large percentage of seniors, minorities, illegal immigrants, and the disabled depend on these programs, we need to find other ways to maintain their health. We can add the minorities, immigrants, and disabled to Michelle “Buffed Biceps” Obama’s Pick Up America (P.U. America) troops, and the exercise will be good for their health.
Besides, if we use biodegradeable paper, whatever trash gets left behind can be used as mulch. We take care of seniors, minorities, immigrants, and the disabled while helping the environment. We can even ask the Veterans to be ready, in case Barry sneaks his V.A. cuts back into his budget. It’s perfect!
Obama did say he was looking for creative ideas!
Jeff V
mikeyintheoc
15 years ago
Maybe “W” should’ve used one. But if he did we wouldn’t have some of these Bushisms
“I have a record in office, as well. And all Americans have seen that record. September the 4th, 2001, I stood in the ruins of the Twin Towers. It’s a day I will never forget.” –George W. Bush, Marlton, New Jersey, Oct. 18, 2004
“We thought we were protected forever from trade policy or terrorist attacks because oceans protected us.” –George W. Bush, speaking to business leaders at APEC Summit, Santiago, Chile, Nov. 20, 2004
“One of the very difficult parts of the decision I made on the financial crisis was to use hardworking people’s money to help prevent there to be a crisis.” –George W. Bush, Washington, D.C., Jan. 12, 2009
“I’ve abandoned free market principles to save the free market system.” –George W. Bush, Washington, D.C., Dec. 16, 2008
@mikeyintheoc: Mikey… the difference here is that YOUR GUY SCREWS UP EVEN WHEN HE IS USING A TELEPROMPTER!
Or did you miss the report about Obama reading the wrong speech on St. Pat’s Day?
Also, anytime you want to compare the number of “uhs” in an off prompter speech by Obama to those of Bush let me know.
By every measure Obama is making Bush look brilliant and competent by comparison.
mikeyintheoc
15 years ago
Ok Obama needs a teleprompter for the “uhs” as much as W should have used a TELE-TRUTH-PROMPTER. Again I can go on and on on..
“But for those who say we haven’t found the banned manufacturing devices or banned weapons, they’re wrong, we found them.”
– George W. Bush, President
Interview With TVP Poland
5/30/2003
“Iraq had a weapons program … Intelligence throughout the decade showed they had a weapons program. I am absolutely convinced with time we’ll find out they did have a weapons program.”
– George W. Bush, President
Comment to Reporters
6/9/2003
In the face of being confronted with facts, mikey dashes away for safety in the dark recesses under the bridge.
Not surprising.
mikeyintheoc
15 years ago
Oh boy. Sorry I didn’t respond to your attack earlier. I should’ve fiqured. Its all right though. “Recesses under a bridge?” you must be assuming I to fell to 8 years of failed economic policy and lost everything I owned? Sorry to tell ya but the middle class is still here.
You haven’t experienced an attack. I simply pointed out your inability or unwillingness to support the allegations that you made when you realized that we are armed with facts here.
mikeyintheoc
15 years ago
And two sides to every coin. I have the advantage as history is still to be made whereas your defending a guy who cant get his history published.
You have the advantage for history yet to be made? LOL! Dang, share the prozac drugs, dude.
Much depends on the events, doesn’t it Mikey. Not all history is a track record to be proud of. Certainly if the US dollar is removed as the world’s reserve currency because of the Obama spending, that’s history. The out of control inflation will be another moment in history.
How is life in your alternate reality bubble? Must have a pretty thick soapy outer wall if you can’t even decipher the news of the Bush book to be published by Crown, an imprint of Random House.
Or perhaps facts are optional in your happy little world?
@mikeyintheoc: “8 years of failed economic policy.”
Obama’s only going to serve one term so I don’t expect the “failed economic policy” to last much longer than four years.
If you are referring to the Bush years please explain how records in the Dow for years and years and years paired with historically low unemployment is “failed economic policy.”
The only failure here is the failure of Utopians to realize that hope and change isn’t a policy.
The only failure here is the failure of Utopians to realize that hope and change isn’t a policy.
Yep – seems like Obama is doing what Bush was doing when this crisis hit – trying to spend his way out of this by throwing billions of dollars out there. What change is that?;)
Gaffa, out of the original $700 bil bailout last fall (actually it was over $800 bil, but that’s because the Senate had to tag it onto other legislation since it originated in the Senate instead of the House), Paulson released only up to $350 bil. I believe Missy had said it was really $276 bil in comments somewhere. Paulson refused to bail out Detroit auto makers with any of the funds.
The second $350 bil got released by Bush at the request of Obama a few weeks before his Inauguration.
So… for the Paulson/Bush admin, the costs include that $350 bil, but then add Fannie/Freddie and other sundry bailouts before that.
For this admin, there’s the $350 bil, plus the $780 something bill 1400 page ARRA/stimulus. Then, all the stuff on the horizon… the budget is next, health care. I believe a separate energy plan as well. There’s no end to the spending ducks lined up in a row.
In addition to the ARRA spending and Omnibus, which increases the operation of Congress by some 8% over last year (plus the pork), there is SCHIPS which will be a financial drag after the smokers quit smoking for the tax increases. To show the idiocy of Congress, they pass a program funded by smokers, then give the Secy’ Treasury god the ability to deny, suspend or revoke permits for the manufacture or importation of tobacco products in the same bill. They also had anti-smoking programs originally built into ARRA… after they had passed SCHIPS.
huh?
It’s the same stupidity demonstrated by the socialist bus thugs ACORN/WFP. They demonize the “rich”, demanding equalization of wealth. But it’s these filty rich types they despise who are needed to support them in all their nanny welfare programs. Remove the wealthy, and the system falls apart. What dummies….
So from Sept to Dec 08- if you add the original $800billion with the $200 billion or so from Fannie Mae/Freddie Mac – and compare that to Jan to Mar 09 with Obama’s $780 billion so far – that doesn’t in my book make Bush look like scrooge at all. To me it looks pretty similar. No much change there;)
As for thug tactics and demonising the rich – pretty unpleasant and short-sighted I agree. I believe there needs to be reforms in regards to how banks operate and how bonuses are paid out but its stupid and counterproductive to vent rage and terrorise families outside their own homes. I more concerned about main street than than wall street or those who always have their hand out wanted more benefit. It always seems it’s the middle class who pay out for the greed of the rich and the sloth of the poor.
Here is how and who according to votes and dollar amounts of the bailout:
Myth. Republicans spent more on bailouts than Democrats. After all, Bush’s bailout, supported by John McCain, was $850B while Obama’s stimulus was only $787B.
Fact. It is true that 850 is more than 787. But when you get into who really asked for what amounts, and who voted for those amounts, the Democrats are responsible for 80% of all bailout spending – and the worst 80%.
The original bailout proposed by the Bush administration was for $700B and its purpose was to save the financial system. But then Congress added another $150B of “sweeteners” unrelated to financial rescue. New cost: $850B. As for the $700B, it would come in two chunks of $350B each, with the second chunk needing a second request by the President and a second approval by Congress.
But a funny thing happened. By January 8, after three months of bailing out troubled assets, only $267B had been spent and the Bush administration saw no special need for the second chunk of money. Bush left it up to Barack Obama to ask for the second chunk of the bailout money. If Obama didn’t want it, Bush was done with the bailout; if Obama did, Bush would go to Congress for the second chunk as a favor to Obama.
On January 12, by letter to Congress, Obama did ask for the second chunk . (President Bush then did the yeoman’s task of formally requesting the second chunk, what with him being the actual President and all.)
Then another funny thing happened. The new Obama administration said it needed a second bailout, a totally separate one, as an economic stimulus rather than a financial system rescue. And its cost would end up being $787B. Total cost of the two bailouts: $1,637B (not including future interest payments).
So we can blame $350B on Bush and $1,287B (the $787B second bailout, the second $350B chunk of the first bailout, and the $150B of sweeteners in the first bailout) on Obama and Congress.
By that measure, Obama and Congress get 79% of the blame.
And who, exactly, voted for these two bailouts in Congress? The stimulus passed with 244 votes in the House (all Democrats) and 60 votes in the Senate (57 Democrats and 3 Republicans). Bush’s bailout passed with 263 votes in the House (172 Democrats and 91 Republicans) and with 74 votes in the Senate (41 Democrats and 33 Republicans). That is, Obama’s stimulus was 99% Democrat and Bush’s bailout was 63% Democrat, going by total votes cast in both houses of Congress.
If we weight the price tags of the two packages by party vote, the Democrats are responsible for $1,315B and the Republicans are responsible for $322B, or a bit more than what actually went to rescue troubled financial assets.
Either way you measure it, the Democrats can claim about 80% of the credit for these two major bailouts totaling more than $1.6 trillion of federal spending, increasing by a third our national debt (held by the public), in less than five months time.
Moreover, the 20% credited to Republicans actually went to troubled financial assets. There is at least a case that this money helped avoid a system-wide breakdown of our banking system, and therefore truly saved us from financial catastrophe. The other 80% is more like very expensive confetti, with entrenched Democratic support groups being the confetti suppliers. They get the real money; we get the confetti and the debt.
But then Congress added another $150B of “sweeteners” unrelated to financial rescue.
So could Bush of vetoed that?
On January 12, by letter to Congress, Obama did ask for the second chunk . (President Bush then did the yeoman’s task of formally requesting the second chunk, what with him being the actual President and all.)
So couldn’t Bush has said no – wait until your are President in 8 days time. Not on my watch?
I can understand you pinning in proportionally on the Democrats but when it comes to Presidents – Bush presides over the process and I believe he didn’t have to let it go through. The responsibility lies primarily with him until Jan 20th 2009.
btw – what happened to the original $267billion. Was that accounted for?
Plus you forgot to mention Fannie & Freddie & the other bailouts.
Gaffa, INRE the Senate added $150b… no, Bush cannot line item veto. It’s a simple yes or no to the whole enchilada. It had to be added since appropriations bills are required to originate in the House, not the Senate. So they picked up a disputed tax relief bill, and added it on to that. That section is called the Tax Extenders and Alternative Minimal Tax Relief, I believe.
And no, Bush could not refuse to release the last $350b of the original TARP I $700b. The bill set up how the money was to be funded. $250b immediately to the Treasury Secy (then Paulson). An additional $100b could then be released, authorized by POTUS Bush.
The last $350b was released only by the President notifying Congress of it’s release, of which they then had 15 days. Because it was a new incoming POTUS and Congress, the big Zero asked Bush to set the Congressional request in motion so the 15 day waiting period would essentially be over by the time he took the oath of office. Why should Bush be difficult and refuse? They would have done it anyway.
Now, you’ve asked a few times about the original $350b, plus other bailouts. Even Congress doesn’t seem to know to who and how much. But here’s the best tracking I can come up with for the 2008 bailout spending.
Bear Stearns started it off with a $29b loan, but ended up being merged with JP Morgan/Chase… who assumed the non-recourse loan.
Near as I can tell, the GSEs got about $185b, mostly in the purchase of debts, stocks and MBSs
Goldman Sach was a private buyout by Berkshire Hathaway… no federal funds
Morgan Stanley was a buyout by Bank of Tokyo – again no federal funds
AIG got about $90b. Later the Treasury bought $40b of stocks… but that’s included in the TARP I $350b.
That brought us up to the Oct passage of TARP… which dispersed funds to over 300 or 400 banks, from what I understand, as well as AIG.
So the best I can come up with is the bailout spending by Bush/Paulson/Bernanke is about $654b. If anyone can come up with more accurate estimates, feel free.
~~~
Obama spending?
$710b “stimulus”.
Then add the 8% Congressional budget increase in the $410b omnibus, PLUS had about 2% pork…. estimated to be $32.8 + $8.2, or another $40b.
So far what has been passed via law for appropriation by Obama is $750b in less than 60 days…. more than was spent the entire bailout year of 2008 by Bush.
Add this budget he’s trying to push, then the $656b approx downpayment on health reform on the horizon.
And the $300b the Treasury bought up recently? Not included in the stimulus or omnibus that I know of. But then both bills are over 1000 pages, and I haven’t read them completely. Don’t know that anyone has.
Everytime this guy, this fake, leaves the safety and comfort of this closest friend–Telly, the teleaprompter he suffer withdrawl and foot-in-mouth disease. This boy, this great leader is truely an empty suit. He is nothing without his handlers. Sad, but true.
OMG, Mike Moody did an amazing job on that! I’m also enthralled with his commenters, referring to Obama as the TOTUS. :0)
@MataHarley: I don’t know who first started the TOTUS thing. I first heard it on Rush Limbaugh.
TOTUS has its’ own blog now.
HAHAHAH OMG that is the best thing eeeevvvaaaahhhhhhh i shall now and forever refer to the one as the TOTUS and i shall also call him the telepromter any time th econversation around the office refers to him,, thank you! there is a GOD in the univerise with a wonderful sense of humor!!!!
Do you mouth breathers really not remember Bush? You know, the last president who couldn’t put two words together without tripping over his own tongue? Even WITH a teleprompter?
@NotYou: Yeah, we do remember Bush . And we remember that with or without a teleprompter he made LESS gaffes than the idiot Obama. And Bush didn’t need a teleprompter for every single announcement he made.
We also remember his Administration was much more competent and focused than the current collection of kiddies now playing government in the White House.
P.S. Back to topic, sort of. My latest video is climbing the charts fast with over 7,400 views since it’s debut earlier this week:
This guy does make Bush the Younger sound dang good. Pres. Bush made light of himself, but not at the expense of the Special Olympics. Obama is Sofa King! Wee Todd did.
Since this White House occupant is our Teleprompter President (TP), shouldn’t we be allowed to TP (toilet paper) his house for fun?
Maybe THAT would get media attention!
Jeff V
@ruaqtpi2: Interesting idea Jeff V. but you know if we TP’s the White House that’s one time Dems would insist on enforcing the law. Unless of course we got illegal aliens to do it.
Mike, you owe me a keyboard AND a monitor from the coffee spew!
@Mike,
Think about it; this could work perfectly for the Administration:
– Michelle Obama wants seniors to earn their Social Security payments (ignoring for a moment that they’ve already earned them, since it’s their money from past paycheck deductions and deferred payments from previous employer[s].) Michelle could ask/require D.C. seniors to do the cleanup.
– Barack wants to cut back on the costs of Medicare, and Budget Director Orszag wants to kill the Medicare Advantage program. Since a large percentage of seniors, minorities, illegal immigrants, and the disabled depend on these programs, we need to find other ways to maintain their health. We can add the minorities, immigrants, and disabled to Michelle “Buffed Biceps” Obama’s Pick Up America (P.U. America) troops, and the exercise will be good for their health.
Besides, if we use biodegradeable paper, whatever trash gets left behind can be used as mulch. We take care of seniors, minorities, immigrants, and the disabled while helping the environment. We can even ask the Veterans to be ready, in case Barry sneaks his V.A. cuts back into his budget. It’s perfect!
Obama did say he was looking for creative ideas!
Jeff V
Maybe “W” should’ve used one. But if he did we wouldn’t have some of these Bushisms
“I have a record in office, as well. And all Americans have seen that record. September the 4th, 2001, I stood in the ruins of the Twin Towers. It’s a day I will never forget.” –George W. Bush, Marlton, New Jersey, Oct. 18, 2004
“We thought we were protected forever from trade policy or terrorist attacks because oceans protected us.” –George W. Bush, speaking to business leaders at APEC Summit, Santiago, Chile, Nov. 20, 2004
“One of the very difficult parts of the decision I made on the financial crisis was to use hardworking people’s money to help prevent there to be a crisis.” –George W. Bush, Washington, D.C., Jan. 12, 2009
“I’ve abandoned free market principles to save the free market system.” –George W. Bush, Washington, D.C., Dec. 16, 2008
I can go on and on on
@mikeyintheoc: Mikey… the difference here is that YOUR GUY SCREWS UP EVEN WHEN HE IS USING A TELEPROMPTER!
Or did you miss the report about Obama reading the wrong speech on St. Pat’s Day?
Also, anytime you want to compare the number of “uhs” in an off prompter speech by Obama to those of Bush let me know.
By every measure Obama is making Bush look brilliant and competent by comparison.
Ok Obama needs a teleprompter for the “uhs” as much as W should have used a TELE-TRUTH-PROMPTER. Again I can go on and on on..
“But for those who say we haven’t found the banned manufacturing devices or banned weapons, they’re wrong, we found them.”
– George W. Bush, President
Interview With TVP Poland
5/30/2003
“Iraq had a weapons program … Intelligence throughout the decade showed they had a weapons program. I am absolutely convinced with time we’ll find out they did have a weapons program.”
– George W. Bush, President
Comment to Reporters
6/9/2003
@mikeyintheoc: Do you really want to get into a Who is more truthful debate Bush or Obama?
I don’t think so.
Are you aware that Iraq DID have a WMD program and we did find the infrastructure if not stockpiles???
If you keep going, I’ll start replaying my best of Barack’s Blooper reel since apparently you have missed most of that.
Obama has lied about the most fundamental questions of character and who he is. Only a sucker is going to give him a pass on that while bashing Bush.
Nah Mike I am sure your loaded for Bear as its your America. Gotta admitt the TELE TRUTH PROMPTER was funny.
mikey
In the face of being confronted with facts, mikey dashes away for safety in the dark recesses under the bridge.
Not surprising.
Oh boy. Sorry I didn’t respond to your attack earlier. I should’ve fiqured. Its all right though. “Recesses under a bridge?” you must be assuming I to fell to 8 years of failed economic policy and lost everything I owned? Sorry to tell ya but the middle class is still here.
Attack?
Heh. That’s funny.
You haven’t experienced an attack. I simply pointed out your inability or unwillingness to support the allegations that you made when you realized that we are armed with facts here.
And two sides to every coin. I have the advantage as history is still to be made whereas your defending a guy who cant get his history published.
Mikey
So basically you’re admitting that you cannot support the allegations that you made.
That’s what I figured.
By the way, I’m not defending anything but the truth. I do realize that is a strange concept to you.
Can you tell me mikey what kind of history you think your Dear Leader will be making?
Early indications are that the history will not be anything to be bragging over.
One other thing. What’s with the “can’t get his history published” snark?
The agreement between GW Bush and Crown Publishers has already been finalized so, once again, you’re talking out of your ass.
You have the advantage for history yet to be made? LOL! Dang, share the prozac drugs, dude.
Much depends on the events, doesn’t it Mikey. Not all history is a track record to be proud of. Certainly if the US dollar is removed as the world’s reserve currency because of the Obama spending, that’s history. The out of control inflation will be another moment in history.
How is life in your alternate reality bubble? Must have a pretty thick soapy outer wall if you can’t even decipher the news of the Bush book to be published by Crown, an imprint of Random House.
Or perhaps facts are optional in your happy little world?
@mikeyintheoc: “8 years of failed economic policy.”
Obama’s only going to serve one term so I don’t expect the “failed economic policy” to last much longer than four years.
If you are referring to the Bush years please explain how records in the Dow for years and years and years paired with historically low unemployment is “failed economic policy.”
The only failure here is the failure of Utopians to realize that hope and change isn’t a policy.
Yep – seems like Obama is doing what Bush was doing when this crisis hit – trying to spend his way out of this by throwing billions of dollars out there. What change is that?;)
Gaffa, get serious. Compared to Obama’s first two months in office, Bush is an Ebenezer Scrooge.
@GaffaUK: Time waster. Go to your room!
Possibly a matter of degree – with so much money going out it’s hard to know how much and how effective it is. Seems like the same strategy to me.
Does anybody know how much was spent/earkmarked by Paulson as compared so far to Geithner?
Gaffa, out of the original $700 bil bailout last fall (actually it was over $800 bil, but that’s because the Senate had to tag it onto other legislation since it originated in the Senate instead of the House), Paulson released only up to $350 bil. I believe Missy had said it was really $276 bil in comments somewhere. Paulson refused to bail out Detroit auto makers with any of the funds.
The second $350 bil got released by Bush at the request of Obama a few weeks before his Inauguration.
So… for the Paulson/Bush admin, the costs include that $350 bil, but then add Fannie/Freddie and other sundry bailouts before that.
For this admin, there’s the $350 bil, plus the $780 something bill 1400 page ARRA/stimulus. Then, all the stuff on the horizon… the budget is next, health care. I believe a separate energy plan as well. There’s no end to the spending ducks lined up in a row.
To date, Congress has passed seven bills that have been enacted into law.
In addition to the ARRA spending and Omnibus, which increases the operation of Congress by some 8% over last year (plus the pork), there is SCHIPS which will be a financial drag after the smokers quit smoking for the tax increases. To show the idiocy of Congress, they pass a program funded by smokers, then give the Secy’ Treasury god the ability to deny, suspend or revoke permits for the manufacture or importation of tobacco products in the same bill. They also had anti-smoking programs originally built into ARRA… after they had passed SCHIPS.
huh?
It’s the same stupidity demonstrated by the socialist bus thugs ACORN/WFP. They demonize the “rich”, demanding equalization of wealth. But it’s these filty rich types they despise who are needed to support them in all their nanny welfare programs. Remove the wealthy, and the system falls apart. What dummies….
@Mike
[EDITOR NOTES: GAFFA IS IN TIME OUT]
@MataHarley
So from Sept to Dec 08- if you add the original $800billion with the $200 billion or so from Fannie Mae/Freddie Mac – and compare that to Jan to Mar 09 with Obama’s $780 billion so far – that doesn’t in my book make Bush look like scrooge at all. To me it looks pretty similar. No much change there;)
As for thug tactics and demonising the rich – pretty unpleasant and short-sighted I agree. I believe there needs to be reforms in regards to how banks operate and how bonuses are paid out but its stupid and counterproductive to vent rage and terrorise families outside their own homes. I more concerned about main street than than wall street or those who always have their hand out wanted more benefit. It always seems it’s the middle class who pay out for the greed of the rich and the sloth of the poor.
@GaffaUK:
Here is how and who according to votes and dollar amounts of the bailout:
http://www.americanthinker.com/2009/02/who_are_the_big_spenders.html
Stuck in the filter. P&T.
So could Bush of vetoed that?
So couldn’t Bush has said no – wait until your are President in 8 days time. Not on my watch?
I can understand you pinning in proportionally on the Democrats but when it comes to Presidents – Bush presides over the process and I believe he didn’t have to let it go through. The responsibility lies primarily with him until Jan 20th 2009.
btw – what happened to the original $267billion. Was that accounted for?
Plus you forgot to mention Fannie & Freddie & the other bailouts.
Gaffa, INRE the Senate added $150b… no, Bush cannot line item veto. It’s a simple yes or no to the whole enchilada. It had to be added since appropriations bills are required to originate in the House, not the Senate. So they picked up a disputed tax relief bill, and added it on to that. That section is called the Tax Extenders and Alternative Minimal Tax Relief, I believe.
And no, Bush could not refuse to release the last $350b of the original TARP I $700b. The bill set up how the money was to be funded. $250b immediately to the Treasury Secy (then Paulson). An additional $100b could then be released, authorized by POTUS Bush.
The last $350b was released only by the President notifying Congress of it’s release, of which they then had 15 days. Because it was a new incoming POTUS and Congress, the big Zero asked Bush to set the Congressional request in motion so the 15 day waiting period would essentially be over by the time he took the oath of office. Why should Bush be difficult and refuse? They would have done it anyway.
Now, you’ve asked a few times about the original $350b, plus other bailouts. Even Congress doesn’t seem to know to who and how much. But here’s the best tracking I can come up with for the 2008 bailout spending.
Bear Stearns started it off with a $29b loan, but ended up being merged with JP Morgan/Chase… who assumed the non-recourse loan.
Near as I can tell, the GSEs got about $185b, mostly in the purchase of debts, stocks and MBSs
Goldman Sach was a private buyout by Berkshire Hathaway… no federal funds
Morgan Stanley was a buyout by Bank of Tokyo – again no federal funds
AIG got about $90b. Later the Treasury bought $40b of stocks… but that’s included in the TARP I $350b.
That brought us up to the Oct passage of TARP… which dispersed funds to over 300 or 400 banks, from what I understand, as well as AIG.
So the best I can come up with is the bailout spending by Bush/Paulson/Bernanke is about $654b. If anyone can come up with more accurate estimates, feel free.
Obama spending?
$710b “stimulus”.
Then add the 8% Congressional budget increase in the $410b omnibus, PLUS had about 2% pork…. estimated to be $32.8 + $8.2, or another $40b.
So far what has been passed via law for appropriation by Obama is $750b in less than 60 days…. more than was spent the entire bailout year of 2008 by Bush.
Add this budget he’s trying to push, then the $656b approx downpayment on health reform on the horizon.
And the $300b the Treasury bought up recently? Not included in the stimulus or omnibus that I know of. But then both bills are over 1000 pages, and I haven’t read them completely. Don’t know that anyone has.