{"id":10161,"date":"2011-11-17T16:55:53","date_gmt":"2011-11-17T21:55:53","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=10161"},"modified":"2011-11-17T16:55:53","modified_gmt":"2011-11-17T21:55:53","slug":"why-we-shouldnt-let-the-government-invest-our-money","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=10161","title":{"rendered":"Why We Shouldn&#8217;t Let The Government Invest Our Money"},"content":{"rendered":"<div class=\"mceTemp\"><\/div>\n<div style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"http:\/\/en.wikipedia.org\/wiki\/File:1964_Olds_Starfire.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"zemanta-img-inserted zemanta-img-configured\" title=\"1964 Oldsmobile Starfire\" src=\"http:\/\/upload.wikimedia.org\/wikipedia\/en\/thumb\/b\/b9\/1964_Olds_Starfire.jpg\/300px-1964_Olds_Starfire.jpg\" alt=\"1964 Oldsmobile Starfire\" width=\"300\" height=\"148\" \/><\/a><p class=\"wp-caption-text\">Image via Wikipedia<\/p><\/div>\n<p>On November 14, the <a href=\"http:\/\/detnews.com\/article\/20111114\/AUTO01\/111140434\">Detroit News<\/a>\u00a0reported that American taxpayers will lose\u00a0$23.6 billion, up from its previous estimate of $14.33 billion, on the bailout of General Motors.<\/p>\n<p>The article reports:<\/p>\n<div>\n<p style=\"padding-left: 30px;\"><strong>The Treasury now pegs the cost of the bailout of GM, <a id=\"itxthook1\" href=\"http:\/\/detnews.com\/article\/20111114\/AUTO01\/111140434#\" rel=\"nofollow\">Chrysler<\/a> Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009.<\/strong><\/p>\n<p>The article goes on the chronicle the losses in the government bailout programs in various sectors of the economy.<\/p>\n<p>The article reports:<\/p>\n<div>\n<p style=\"padding-left: 30px;\"><strong>The new estimate also hikes the overall cost of the $700 billion Troubled Asset Relief Program costs to taxpayers. TARP is the emergency program approved by Congress in late 2008 at the height of the financial crisis.<\/strong><\/p>\n<p style=\"padding-left: 30px;\"><strong>In total, the government used $425 billion to bailout banks, insurance companies and automakers, and provided $45 billion in housing program assistance.<\/strong><\/p>\n<p style=\"padding-left: 30px;\"><strong>The government now expects to lose $57.33 billion, including the full cost of the housing program, up from $36.7 billion. The new estimate means the government doesn&#8217;t believe it will make an overall profit on its bailouts.<\/strong><\/p>\n<p>Again, the problem is that we are spending too much, not that we are taxed too little.<\/p>\n<\/div>\n<\/div>\n<div>\n<\/div>\n<div class=\"zemanta-pixie\" style=\"margin-top: 10px; height: 15px;\"><a class=\"zemanta-pixie-a\" title=\"Enhanced by Zemanta\" href=\"http:\/\/www.zemanta.com\/\"><img decoding=\"async\" class=\"zemanta-pixie-img\" style=\"border: none; float: right;\" src=\"http:\/\/img.zemanta.com\/zemified_e.png?x-id=38046c5c-acb2-4b30-a3b8-7a115b0b50f5\" alt=\"Enhanced by Zemanta\" \/><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>On November 14, the Detroit News\u00a0reported that American taxpayers will lose\u00a0$23.6 billion, up from its previous estimate of $14.33 billion, on the bailout of General Motors. The article reports: The Treasury now pegs the cost of the bailout of GM, &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=10161\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1266,1267,1264,121,1269,1265,1268],"class_list":["post-10161","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-autos","tag-bailout-of-general-motors","tag-detroit-news","tag-general-motors","tag-tarp","tag-treasury","tag-troubled-asset-relief-program"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/10161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10161"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/10161\/revisions"}],"predecessor-version":[{"id":10181,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/10161\/revisions\/10181"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}