Treasury: Billions still needed to backstop the economy

[joeycola]

Source: The Hill





Treasury: Billions still needed to backstop the economy

By Michael O'Brien - 09/14/09 11:28 AM ET

The U.S. economy could continue to need billions of dollars in government support for an indefinite period, a Department of Treasury report said Monday.

While substantial progress has been made in bolstering the U.S. financial sector, the Treasury report on "The Next Phase of Government Financial Stabilization and Rehabilitation Policies" said that billions in U.S. dollars are still needed to steady the economy.

"In those markets where conditions have improved, it is unclear whether the improvements achieved to date will persist without a period of continued government support," the report said. "We must temper our desire to terminate our extraordinary financial support with the recognition that there is still a risk of market disruption that would have a significant negative impact on American families, workers, and businesses."

"Some programs must continue until it is clear that the financial recovery achieved to date is fully self-sustaining," the report added...........................

Read more: http://thehill.com/blogs/blog-briefing-room/news/58549-treasury-bills-still-needed-to-backstop-economy

---

When will this stop?

[Romulox]

1. In other words, taxpayer $$$ will be paying the bonuses at AIG, Citi for the foreseeable... nt

[Deja Q]

2. When the US becomes self-sustainable with jobs again...

Don't ask corporations to pay back all this fancy help we're doling out to these indolent leeches. We make welfare mothers and blame them... nut nobody looks at the corporate daddies...

[joeycola]

4. we just keep feeding them...time and time again.

[valerief]

3. Gotta keep paying for those credit default swaps that make the rich much richer. nt

[ShortnFiery]

5. The good ole USA accounts for 30 % of the Weapons Industry.

Those bombs won't blow themselves up! Americans will lose their jobs in the "death and destruction" industry if we don't bomb Iran. Come on, join the team? :wow:

It's another war that will get the economy moving again. :crazy:

[SandWalker1984]

6. Billions for Banks, Zero $ for a Public Option

Do any of the rest of you see the hypocrisy of this?

Obama and our government are willing to throw BILLIONS more at the banks and financial corporations that should have been broken up and re-regulated by Congress, yet a Public Option for affordable insurance for Americans cannot receive even ONE DOLLAR of government funding?

While the Republicans are screaming about socialism, taxes and Medicare and the Democrats are screaming that Congress should be providing true health care reform in the legislation before Congress, Congress and Obama are planning a 2nd big heist of the taxpayers that will drop the national debt off the cliff.

How long before the rest of the world publicly acknowledges the fiscal irresponsibility of the US and dumps the dollar?

What happens when the dollar becomes worthless?

[unhappycamper]

7. Psssst. Wanna know where you can find $12 billion a month for the foreseeable future?

Iraq and Afghanistan.

[lib2DaBone]

8. How about looking into that $9 Billion that Cheney and Rummy said went missing?

Remember the $7 Billion that went missing in Iraq? Why not audit the FED?

Where I work we have to turn in the pencil nubs before we are issued a new pencil. So let me get this straight... The Federal Govt has $9 Billion on pallets go missing in Iraq and NOT ONE PERSON goes looking?

Hmmmmm... U.S. lost track of $9 billion in Iraq funds http://edition.cnn.com/2005/WORLD/meast/01/30/iraq.audit/ :think:

[BootinUp]

9. Its weird that this is being reported at the same time Obama

is addressing the issue in a major speech.

[Joanne98]

10. NO MORE MONEY FOR THE BANKSTERS!

[fascisthunter]

11. go ask the rich for the money

you know, the ones who helped create this fucking mess! How about a guilotine?

[Lagomorph]

12. Dear Treasury: Horse Shit

[defendandprotect]

13. Let's get them from corporations/elites . . . !!!

[shanti]

14. BOHICA

this is getting real old! :mad: