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Re: GOP Healthcare "Repeal" would cost us $230 billion
[Re: Don Smitty]
#590655
01/13/11 12:24 PM
01/13/11 12:24 PM
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Joined: Feb 2005
Posts: 11,468 With Geary in Fredo's Brothel
dontomasso
Consigliere to the Stars
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Consigliere to the Stars

Joined: Feb 2005
Posts: 11,468
With Geary in Fredo's Brothel
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Dont worry everyone Obamas stimulus plan will kick in soon. HAHAHAHAHAHAHA what a joke ..... You are a moron. The original stimulus was Bush's bailout. The Obama stimulus for the auto industry has worked brilliantly, and but for the knuckle draggers in congress, he could have spent more and gotten us out of it sooner. Why don't you go to Alaska and hang out with Sarah "Blood Libel" Palin.
"Io sono stanco, sono imbigliato, and I wan't everyone here to know, there ain't gonna be no trouble from me..Don Corleone..Cicc' a port!"
"I stood in the courtroom like a fool."
"I am Constanza: Lord of the idiots."
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Re: GOP Healthcare "Repeal" would cost us $230 billion
[Re: dontomasso]
#590657
01/13/11 12:57 PM
01/13/11 12:57 PM
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Joined: Jul 2001
Posts: 22,902 New York
SC
Consigliere
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Consigliere

Joined: Jul 2001
Posts: 22,902
New York
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Dont worry everyone Obamas stimulus plan will kick in soon. HAHAHAHAHAHAHA what a joke ..... You are a moron. Don Smitty is not a moron... he just enjoys getting a rise out of anyone with differing political views. Much like another member here from the same general area in Jersey. Don't fault them for being difficult; their brains are oxygen starved from breathing in all that polluted Jersey air. They can't help it. Seriously, please stop the personal attacks. Politics brings out the worst in all of us.
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Re: GOP Healthcare "Repeal" would cost us $230 billion
[Re: SC]
#590661
01/13/11 02:09 PM
01/13/11 02:09 PM
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Joined: Sep 2001
Posts: 1,619 NJ
Don Marco
Underboss
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Underboss
Joined: Sep 2001
Posts: 1,619
NJ
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Dont worry everyone Obamas stimulus plan will kick in soon. HAHAHAHAHAHAHA what a joke ..... You are a moron. Don Smitty is not a moron... he just enjoys getting a rise out of anyone with differing political views. Much like another member here from the same general area in Jersey. Don't fault them for being difficult; their brains are oxygen starved from breathing in all that polluted Jersey air. They can't help it. Seriously, please stop the personal attacks. Politics brings out the worst in all of us. Hey, I'm not sure but I think I resent that remark. (Unless South Jersey gets a exception to the statement).
"After all, we are not communists" Christopher Moltisanti: You ever think what a coincidence it is that Lou Gehrig died of Lou Gehrig's disease?
Tony Soprano: Yeah well, when you're married, you'll understand the importance of fresh produce.
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Re: GOP Healthcare "Repeal" would cost us $230 billion
[Re: Don Marco]
#590663
01/13/11 02:51 PM
01/13/11 02:51 PM
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Joined: Jul 2001
Posts: 22,902 New York
SC
Consigliere
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Consigliere

Joined: Jul 2001
Posts: 22,902
New York
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Hey, I'm not sure but I think I resent that remark. (Unless South Jersey gets a exception to the statement). Absolutely does, DM. I was referring to the north central part of the state ... the part that smells funny.
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Re: GOP Healthcare "Repeal" would cost us $230 billion
[Re: dontomasso]
#590679
01/13/11 04:12 PM
01/13/11 04:12 PM
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Joined: Aug 2001
Posts: 18,238 The Ravenite Social Club
Don Cardi
Caporegime
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Caporegime

Joined: Aug 2001
Posts: 18,238
The Ravenite Social Club
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The Obama stimulus for the auto industry has worked brilliantly,
GM got over $49 billion in taxpayer money. Just for the taxpayers to break even General Motors must have a net worth of somewhere in the $66 billion area. When General Motors came out of bankruptcy the United States Treasury converted most of those loans into a percentage stake in the company's stock. General Motors did NOT repay any of the loans from its earnings. Now let's talk about Citi. The government, or should I say taxpayers, gave them bailout money. Made a LOAN to them. However Citi did NOT pay back the the loan in $$$. Instead the government was given Citi stock at a rate of approximately $1 per share, a rate that would equal the total amount of $$ given to Citi for the bailout. When the Citi stock finally rose a few months back, the government SOLD those shares and that is how the government recouped the taxpayers money that was LOANED to Citi. It was a very risky move and in truth it was NEVER clearly explained to the public just how the bailout money was going to be recouped. As a mater of fact the government took a HUGE risk in setting up the payback for these loans * see footnoteCiti did NOT really pay back the LOAN to the taxpayers as it was being reported all over the news several months ago. And I won't even go into A.I.G.  or unemployment. One could argue that the bailout given to GM was a success. Time will tell. As for Citi, although I feel that the government was not forthcoming on how they were going to hold Citi accountable in paying back A LOAN, but instead took a huge risk with our tax money, in the end it did work out. BUt overall the bailout has not been a total success just yet because when you lump together all of the the banks, the car companies, and A.I.G., the Treasury has recouped only something like $200 billion of the $600 billion. Whether it will ALL work out still remains to be seen. * which it turned out were not really loans but investment risks where our tax money was used in playing the stock market. Thank GOD that it wound up, at least with Citi, working out for the taxpayers. But tell me, where have all the profits that were made by our Government on the selling of the Citi stock gone to? No one in government has given a clear answer when presented with this question!
Don Cardi Five - ten years from now, they're gonna wish there was American Cosa Nostra. Five - ten years from now, they're gonna miss John Gotti.
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Re: GOP Healthcare "Repeal" would cost us $230 billion
[Re: olivant]
#590694
01/13/11 05:21 PM
01/13/11 05:21 PM
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Joined: Jan 2002
Posts: 2,474
Ice
Underboss
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Underboss
Joined: Jan 2002
Posts: 2,474
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Re: Citigroup - The U.S. government sold off its remaining shares in Citigroup back in early December for $4.35 each, marking an exit from ownership in the bailed-out banking giant with a $12 billion gross profit for taxpayers.
DC is right, it was NEVER clearly explained to the public just how the bailout money was going to be recouped. But that $12 billion figure is what I keep hearing.
The Treasury invested a total of $45 billion to bail out Citigroup in 2008 and 2009 during the financial crisis. The company paid back $20 billion in preferred stock, while another $25 billion was converted to 7.7 billion common shares held by the Treasury.
As far as the bailed-out insurer American International Group goes, just as olivant already stated, the Treasury converted all its preferred shares of AIG into common stock of the insurer, claiming almost 93 percent of the company’s total shares. After a recapitalization deal closes on Friday, the Treasury will own 92.1 percent of AIG. The government rescued AIG from the brink of failure in September 2008 in a bailout that topped $182 billion.
This afternoon some of America's top bankers were in Manhattan to make a pitch for managing what could be one of the largest share sales in history -- a secondary offering for AIG. Goldman Sachs, Bank of America, JP Morgan, etc. are all contending to be the banker who manages the deal.
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Re: GOP Healthcare "Repeal" would cost us $230 billion
[Re: olivant]
#590836
01/15/11 01:19 PM
01/15/11 01:19 PM
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Joined: Aug 2001
Posts: 18,238 The Ravenite Social Club
Don Cardi
Caporegime
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Caporegime

Joined: Aug 2001
Posts: 18,238
The Ravenite Social Club
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My understanding was that the "loans" to these companies were secured with equity so that upon default the Federal government could liquidate the companies assets to recoup the amount of the loans. GM and Chrysler had to provide the government with stock warrants giving it the option to buy GM and Chrysler stock at a specific price. Had those companies gone into total bankruptcy, those stocks and warrants would have not been worth a penny making the government nothing more than an unsecured creditor. When these terms and conditions were questioned by some in power, it was then that the U.S. Treasury revised the terms of the "loans" where part of the "loans" were supposedly "secured" by assets not already promised to other entities with the balance of the "loans" "secured"  against assets that HAD been already promised to other entities who had already placed liens against some of the auto companies that were given bailout money! Giving bailout money under theses terms and conditions is like giving someone a home equity loan or a line of credit when that someone has an upside down mortgage with all kinds liens against their home or property. The government took a very high risk, with OUR tax dollars, in the way that they provided these companies with "loans" to bail them out.
Don Cardi Five - ten years from now, they're gonna wish there was American Cosa Nostra. Five - ten years from now, they're gonna miss John Gotti.
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Re: GOP Healthcare "Repeal" would cost us $230 billion
[Re: ronnierocketAGO]
#592365
01/26/11 06:17 PM
01/26/11 06:17 PM
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Joined: Aug 2007
Posts: 592 Chicago Underworld
Frank_Nitti
"The Enforcer"
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"The Enforcer"
Underboss
Joined: Aug 2007
Posts: 592
Chicago Underworld
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Mr. Obama said last night that tackling the deficit "means further reducing health care costs, including programs like Medicare and Medicaid, which are the single biggest contributor to our long-term deficit. Health insurance reform will slow these rising costs, which is part of why nonpartisan economists have said that repealing the health care law would add a quarter of a trillion dollars to our deficit."
Fact is, The idea that Obama's health care law saves money for the government is based on assumptions that are arguable, at best.
To be sure, the nonpartisan Congressional Budget Office has estimated the law will slightly reduce red ink over 10 years. But the office's analysis assumes that steep cuts in Medicare spending, as called for in the law, will actually take place. Others in the government have concluded it is unrealistic to expect such savings from Medicare.
In recent years, for example, Congress has repeatedly overridden a law that would save the treasury billions by cutting deeply into Medicare pay for doctors. Just last month, the government once again put off the scheduled cuts for another year, at a cost of $19 billion. That money is being taken out of the health care overhaul. Congress has shown itself sensitive to pressure from seniors and their doctors, and there's little reason to think that will change.
EDIT - Obama care would indeed increase the deficit and debt as has been made clear by both the Chief Actuary of Medicare and CBO health care cost projections.
Last edited by Frank_Nitti; 01/26/11 06:24 PM.
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