Berkeley CSUA MOTD:Entry 52224
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2025/05/23 [General] UID:1000 Activity:popular
5/23    

2008/12/11-16 [Politics/Domestic/Election] UID:52224 Activity:moderate
12/11   Congress makes me sick. They forked over $700B to the banks with
    less hand-wringing. $15B is chump change. Just do it. They don't
    deserve it, but neither did the banks.
        \_ The $700B was a loan.
           \_ and we're gonna get every penny back, with interest!  or how
              about this:  it would have been much worse if we hadn't loaned
              them $700B. obama and mccain both said it - it must be true. -!op
              \_ We will get some of it back, it is hard to say right now
                 how much. FDR's HOLC was closed at a profit (for the
                 government).
                 \_ it depends on what the meaning of "profit" is, and for that
                    matter, "refinance"
                 \_ it depends on what the meaning of "profit" is
        \_ The $700B was sold as a way to free up the tight credit by buying
           assets.  Then Paulson immediately used the money differently from
           how it was promised, and congress failed to appoint any oversight
           (by comparison, the Afghanistan and Iraq campaigns have cost a total
           of $864B as of June 30, 2008 http://opencrs.com/document/Rl33110
           Maybe they don't want to hand out more money given how successful
           (NOT!) the previous bailout was?
           \_ For $15B when $700B was already doled out? It's in the noise.
              \_ Of course, $700B has not already been doled out.
2025/05/23 [General] UID:1000 Activity:popular
5/23    

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Cache (2066 bytes)
opencrs.com/document/Rl33110
HR 2642 /PL 110-252) on June 30, 2008, Congress has approved a total of about $864 billion for military operations, base security, reconstruction, foreign aid, embassy costs, and veterans' health care for the three operations initiated since the 9/11 attacks: Operation Enduring Freedom (OEF) Afghanistan and other counter terror operations; Operation Noble Eagle (ONE), providing enhanced security at military bases; This $864 billion total covers all war-related appropriations from FY2001 through part of FY2009 in supplementals, regular appropriations, and continuing resolutions. Of that total, CRS estimates that Iraq will receive about $657 billion (76%), OEF about $173 billion (20%), and enhanced base security about $28 billion (3%), with about $5 billion that CRS cannot allocate (1%). About 94% of the funds are for DOD, 6% for foreign aid programs and embassy operations, and less than 1% for medical care for veterans. HR 2642 /PL 110-252) includes a total of about $160 billion for war costs for the Department of Defense (DOD) for the rest of FY2008 and part of FY2009. Funds are expected to last until June or July 2009 well into a new Administration. The Administration did not submit a request to cover all of FY2009. While Congress provided a total of $188 billion for war costs in FY2008 -- $17 billion more than the prior year -- this total was a cut of about $14 billion to the Administration's request, including both reductions in DOD's investment accounts and substitutions of almost $6 billion in non-war funding. For FY2009, Congress provided $67 billion, close to the request. Earlier, to tide DOD over until passage of the supplemental, the House and Senate appropriations committees approved part of a DOD request to transfer funds from its regular accounts. In an August 2008 update, the Congressional Budget Office projected that additional war costs for the next ten years from FY2009 through FY2018 could range from $440 billion, if troop levels fell to 30,000 by 2010 to $865 billion, if troop levels fell to 75,000 by about 2013.