In response to:

Uh, Obama? We Have a Problem: Interest Expense to Hit $1 Trillion in 4 Years

loadstar Wrote: Feb 06, 2013 7:20 AM
re: "Since 2000, the US economy has grown above 3 percent only twice, 2004 and 2010." >>>>>>>>>>>>>>>>>>>> And a key part of the growth in 2004 was the false promise of the hyper-inflated housing market because the Left in Big Guvment had foolishly demanded sub-prime lending and the elimination of prudent mortgage-lending standards. The simple truth is that MANY among our populace simply have no business getting mortgages PERIOD, either because of bad credit, or lack of capacity, or likely both. I had called this one several years before the crash in 2008. I was surprised that more bankers did not see it coming, but they were deluded by the "comfort" of having the guvment backing (Fannie and Freddie) mega-billions of faulty loans.
CVN65 Wrote: Feb 06, 2013 9:14 AM
They saw it coming, they just didn't care. They stayed in it as long as they could, making all the money that they could because they knew that the big losses would be offset by bailouts. This has been going on for years- big banks make big bets and when they win they keep the money, and when they lose their buddies in the govt socialize the losses.
loadstar Wrote: Feb 06, 2013 9:29 AM
BUT, at least the banks have paid back almost all of the bailouts-- plus interest! Also AIG. The guvment will AGAIN come out nicely ahead...just as it did on the thrift/S & L bailouts in prior times.

If you REALLY want to see where the taxpayers will have gotten screwed, look to the Obamessiah's subverting of the B/R process to save the UAW! We will lose mega-billions for having subverted the normal B/R process, which would have zapped the UAW as an unsecured claimant. Note, Guvment Motors and Chrysler STILL went thru B/R! Yet another Obamanator lie!
AZhot Wrote: Feb 06, 2013 9:08 AM
The bankers were complicit in the whole mess.

I hate to interrupt Obama’s “We Don’t Have a Spending Problem” World Tour. But reality intervened on Tuesday as the Congressional Budget Office released a report that says that the budget deficit will grow through 2023 and “will eventually require the government to raise taxes, reduce benefits and services, or undertake some combination of those two actions,” reports CBSNews- and all of that just to cover interest payments.

“In its annual Budget and Economic Outlook,” writes CBSNews, “the CBO said debt held by the public will be bigger by 2023 than in any year since...

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