Just bought a new car

[jbrettlip]

12 trillion is not the bailout, that is the national debt.

[jbrettlip]

That is why I don't read the NY times. That is such a load of crap. Reserve Govt MMF was not the fund that caused problems. It was their prime fund that held Lehman debt. All Reserve MMF's locked up at that point. It hasn't cost the govt $.01 to insure MMF's. Because not a single one has taken an insured loss. That has been a money maker for the govt. Also the lending facilities as "buyer of last resort" earn punitive interest for the govt and none of the issuers have defaulted. In fact these programs are a few SUCCESSFUL programs the govt has run. In fact to put the credit markets programs anywhere near Fannie, Freddie or AIG bailouts is simply misleading. MMF"s and short term commercial paper markets have nothing to do with derivatives, or mortgages.

[InkL0sed]

12 trillion is not the bailout, that is the national debt.

Also according to the article, total money it has "committed". That does not mean spent. That's a long term figure.

[jbrettlip]

12 trillion is not the bailout, that is the national debt.

Also according to the article, total money it has "committed". That does not mean spent. That's a long term figure.

yeah but by committing to make a money market fund whole commits 3 trillion to the industry. Although if a money market fund "broke the buck" to 0.99 it woul donly cost the govt 1% to make investors whole. So 3T was never a realistic number. That assumes every investment that every money market fund held would not pay (including government and treasury debt). Just a stupid way to report. The MMF insurance ends in Sept anyway. Will Obama then claim he has saved the US 3Trillion when that expires?

[spurgistan]

12 trillion is not the bailout, that is the national debt.

Also according to the article, total money it has "committed". That does not mean spent. That's a long term figure.

Yes. The government has not "spent" anything like 12 trillion dollars. And it will never have to, unless basically all the banks in the US go bankrupt. In which case, money will basically be meaningless, anyways. It's not even really a long term figure, it's just a number meant to scare us.

[The1exile]

I read that the governemnt changed the eligibility requirements to 19 mpg, thus eliminating some cars that dealers thought were eligible. One report had the dealer going after the buyer for the $4500. Again, ANYTHING the government runs gets screwed up.

19 mpg? Fo' real? I didn't know anyone drove a real car with under 25 these days.

[PLAYER57832]

I read that the governemnt changed the eligibility requirements to 19 mpg, thus eliminating some cars that dealers thought were eligible. One report had the dealer going after the buyer for the $4500. Again, ANYTHING the government runs gets screwed up.

They do a pretty good job managing our parks, reserves aand national forests (most timber company complaints are actually evidence of that, not the reverse). They also do pretty well on our highways (as opposed to the mishmash of private ownership that makes up the US rail system). Etc.

However, this particular program far outstripped anyone's expectation for demand. The government is not perfect, but saying they "screw up everything" is flat wrong.

[jsholty4690]

I read that the governemnt changed the eligibility requirements to 19 mpg, thus eliminating some cars that dealers thought were eligible. One report had the dealer going after the buyer for the $4500. Again, ANYTHING the government runs gets screwed up.

They also do pretty well on our highways (as opposed to the mishmash of private ownership that makes up the US rail system).

It obvious you don't live in Illinois if you think the gov. does well with the highway system. Half the roads around here are a minefield of potholes and when they do fill in the potholes they do a half-assed job at it. And when they fix their half-assed job it takes them a year to get it right.

[jbrettlip]

I read that the governemnt changed the eligibility requirements to 19 mpg, thus eliminating some cars that dealers thought were eligible. One report had the dealer going after the buyer for the $4500. Again, ANYTHING the government runs gets screwed up.

They do a pretty good job managing our parks, reserves aand national forests (most timber company complaints are actually evidence of that, not the reverse). They also do pretty well on our highways (as opposed to the mishmash of private ownership that makes up the US rail system). Etc.

However, this particular program far outstripped anyone's expectation for demand. The government is not perfect, but saying they "screw up everything" is flat wrong.

Hmm, ever driven the PA turnpike? Or anywhere on the interstates around Detroit? Again, you are wearing your rose colored glasses, and not seeing reality. PS THe highway budget is GONE, they had to give them billions in the stimulus to keep them solvent. If that is your idea of a well run program, you deserve this government.

[2dimes]

Keep what solvent?

[jbrettlip]

http://en.wikipedia.org/wiki/Federal_Hi ... ed_States)


This well run govt program. See the last 2 sentences.

[khazalid]

q: why isnt highway maintenance federalised in the us?

[khazalid]

khaz is right, free our roads from the tyranny of the state!

[PLAYER57832]

I read that the governemnt changed the eligibility requirements to 19 mpg, thus eliminating some cars that dealers thought were eligible. One report had the dealer going after the buyer for the $4500. Again, ANYTHING the government runs gets screwed up.

They do a pretty good job managing our parks, reserves aand national forests (most timber company complaints are actually evidence of that, not the reverse). They also do pretty well on our highways (as opposed to the mishmash of private ownership that makes up the US rail system). Etc.

However, this particular program far outstripped anyone's expectation for demand. The government is not perfect, but saying they "screw up everything" is flat wrong.

Hmm, ever driven the PA turnpike? Or anywhere on the interstates around Detroit?

You are not comparing it to anything real, just an ideal of what you wish would happen. I said "compared to the rail system", which, on a mile per mile basis is actually in far worse shape. They are privately owned. Some companies do an excellent job, some don't.

Per the budget-- yep, that's what happens when people don't want to pay taxes. There is no money for needed things.

Per "have I driven"... I have driven across the United states, up and down throughout more than once. I probably have more miles on the road than the overwhelming majority of people ... small roads, big roads, etc. AND I have been overseas (though I did not drive myself there). So, I do have a clue.

[bedub1]

I read that the governemnt changed the eligibility requirements to 19 mpg, thus eliminating some cars that dealers thought were eligible. One report had the dealer going after the buyer for the $4500. Again, ANYTHING the government runs gets screwed up.

19 mpg? Fo' real? I didn't know anyone drove a real car with under 25 these days.

I haven't read about the 19mpg, but it used to be 18mpg, so changing it to 19mpg would allow MORE cars to qualify for the program...not less.

[HapSmo19]

Per the budget-- yep, that's what happens when people don't want to pay taxes. There is no money for needed things.

And hammers really do cost seven-hundred dollars.

[jbrettlip]

I read that the governemnt changed the eligibility requirements to 19 mpg, thus eliminating some cars that dealers thought were eligible. One report had the dealer going after the buyer for the $4500. Again, ANYTHING the government runs gets screwed up.

19 mpg? Fo' real? I didn't know anyone drove a real car with under 25 these days.

I haven't read about the 19mpg, but it used to be 18mpg, so changing it to 19mpg would allow MORE cars to qualify for the program...not less.

I will have to find the article. I must have switched th enumbers around.

And Player, you didn't say in they do a better job than the rail system. You said they do a good job...then tried to qualify it by mentioning the rail system. They don't do a good job. Yes the US highways like most things here are some of the best in the world. And like most things in the US, about to go broke.