While the economy keeps stumbling along, voters continue to express little confidence in government as the solution.

Just 27% of Likely U.S. Voters now think the government bailouts of banks, auto companies and insurance companies were good for the United States. A new Rasmussen Reports national telephone survey finds that 57% regard the bailouts as bad for the country, identical to findings last month. Sixteen percent (16%) are not sure.

The latest numbers are consistent with findings since the first bailout was under discussion in September 2008. Since then, voters have consistently opposed the bailouts for both the financial sector and the auto industry. 

Forty-seven percent (47%) of voters, in fact, still worry that the federal government will do too much in reacting to the nation’s current economic problems. Thirty-nine percent (39%) fear that the government will not do enough. Fourteen percent (14%) are not sure. These findings are in line with voter sentiments since November 2008 just after President Obama’s election and the Wall Street meltdown.  

Two-out-of-three Democrats (66%) fear the government will not do enough in reacting to the country’s current economic troubles. Sixty-nine percent (69%) of Republicans and 52% of voters not affiliated with either major party have the opposite concern, that the government will try to do too much.

 For the rest of the please follow this link:

http://www.rasmussenreports.com/public_content/business/federal_bailout/march_2011/only_27_have_positive_view_of_government_bailouts

Mindful of soaring deficits and an anti-Wall Street mood, President Barack Obama wants a new 10-year tax on the country’s largest banks to cover a projected $117 billion shortfall in the government’s financial crisis bailout fund.

The president planned to propose Thursday a levy of 15 basis points, or 0.15 percent, on the liabilities of large financial institutions to make sure every dollar spent from the $700 billion Troubled Asset Relief Program to rescue Wall Street firms, auto companies and mortgage holders is either repaid or paid for. Congress would have to approve the tax.

A senior administration official said the tax, which officials are calling a “financial crisis responsibility fee,” would apply only to financial companies with assets of more than $50 billion. Those firms – estimated to amount to about 50 institutions – would have to pay the fee even though many did not accept any taxpayer assistance and most others already paid back their government infusions.

The official said banks could pay for the tax by tapping their generous executive bonus pools. The administration official described the plan on the condition of anonymity because it had not been officially announced.

At issue is the net cost of TARP, the fund initiated by the Bush administration to help financial institutions get rid of toxic assets. The fund has since evolved, helping not only the banking sector, but also autos and homeowners.

Insurance conglomerate American International Group, the largest beneficiary with nearly $70 billion in bailouts, would have to pay the tax. But General Motors Co. and Chrysler Group LLC, whose $66 billion in government loans are not expected to be fully repaid, would not be subject to a tax.

Bankers did not hide their objections.

For Additonal Information on this:

http://www.reuters.com/article/idUSTRE60D1PA20100114?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F+US+%2F+Top+News%29&utm_content=Google+Feedfetcher

http://apnews.myway.com/article/20100114/D9D7FIMG0.html

Face Forward Comments

Obama knows who uses banks and who dosen’t.  He also know that the banks will simply pass the fees on to their customers.  More redistribution of wealth.

WASHINGTON — The U.S. Treasury Department is discussing ways to keep in reserve some emergency bailout funds even if the Troubled Asset Relief Program isn’t extended beyond the end of the year.

Treasury Secretary Timothy Geithner may opt to extend the program, which expires on Dec. 31. But even if the program isn’t extended, officials want to keep at least some of the money that has yet to be committed to any particular program on hand in case financial conditions worsen and the government is forced to step in.

The decision of whether to extend TARP has become embroiled in a debate over the unpopularity of the $700 billion bailout and the nation’s mounting fiscal woes.

Mr. Geithner hasn’t yet determined whether to extend the government’s TARP authority, Treasury officials said. Even if TARP is allowed to expire, the program won’t technically end until the government’s investments are repaid and the U.S. is no longer a shareholder in financial institutions.

Treasury officials are discussing whether there is any way to preserve that money without extending TARP. While there is no plan to spend additional bailout funds, Treasury officials want the ability to respond in case financial conditions deteriorate.

Neal Wolin, Treasury’s deputy secretary, said it was too early to make a decision on whether to extend TARP. “We will be looking at and making judgments about [extending TARP] in the weeks and months ahead,” Mr. Wolin said in response to questions after a speech Thursday.

As markets begin to stabilize and the economy shows signs of strength, some lawmakers are demanding the program cease and that any unused and repaid TARP funds go to pay down the nation’s debt. Last week, a group of 39 Republican senators and one Democrat sent a letter to Mr. Geithner urging him to let TARP expire and to use returned bailout funds “for debt reduction.” About $128 billion of the $700 billion remains uncommitted.

For the rest of the article by Deborah Solomon and Michael R. Critenden please go here:

http://online.wsj.com/article/SB125383359689939119.html

Face Fwd Comments

Does it bother anyone besides myself, that we are having to ask The Fed to give our money back? Our Money? If you believe as I do, that it should have never been given in the first place, then yes, it probably bothers you. It should come as no surprise that there was only one Democrat of the 39 law makers that asked for the money back.

We are about to hit our 12 trillion dollar debt ceiling. I’ll write that again just to make sure you got it……12 trillion dollars. That’s 1,000,000,000,000,000,000 times 12 or another way of putting it there are one million millions in one trillion. In other words one trillion divided by one million equals one million. Get the idea? It’s a bunch of money.

What would be the right thing to do if you were to hit your debt ceiling at home? Reduce your debt of course. What is Mr. Geithner and The Fed going to do? They are going to ask the government to raise the the debt ceiling so the government can continue to borrow money to pay it’s debt and run it’s programs. And we are already 12 trillion dollars in debt!

The same Federal Reserve that is holding our unspent TARP money hostage and is unwilling to give it back, is now going to try to get our lawmakers to raise the debt ceiling so we can borrow more money from them. Want to talk about a sweetheart business deal. Imagine if your bank said to you, “hey, you have some money on deposit here but we are not going to give it to you. Instead we are going to raise your ability to borrow so you can owe us more”. I believe you would turn that offer down.

No mater if you are a conservative, or a liberal……rather you are a Democrat, Republican or Independent you should be concerned that our government is now a beggar nation to our own Federal Reserve. This has not just happened on Obama’s watch. The power and money grab has been going on since their inception back.

The Scheme for the Federal Reserve Banking System Started at Jekyll Island NY somewhere around 1910 and was ratified in 1913 by Congress. On December 19, 1913 Congress had two versions of a Federal Reserve bill with forty major differences. Many Senators left town for the Christmas break. In a matter of hours, the forty differences were reconciled and the bill was voted on with 22 of the 88 Senators not in town. It passed and was on Wilson’s desk for signature by December 22. The passage of the Federal Reserve Act became known as “the Christmas massacre”. They (the banks) used strong arm politics through the elected officials and snuck a dirty bill though. Using the same dirty political tactics, they have been achieving policy changes to their favor ever since.

From the beginning “The Fed” and the people who proposed it have known that the end purpose was to enslave the people of this country.  The idea of enslaving a people not with chains but with debt is not new.  Many “company towns” did exactly that by making sure the people in the town owed the stores so much money they could not leave. 

It is time for the Tax Paying Americans to throw off the chains of slavery that the US banking system (The Fed) and our own government has placed on us.  Those chains are the debt that will never be paid. The Fed does not want the government of America out of debt, and our elected officials are cooperating to help them achieve it.  We must stop the Fed and get rid of the current set of lawmakers and take our government back.  We must elect financially conservative lawmakers, repeal most of the entitlements, and get our nation back for our kids.  This one tax payer that no longer wants to pay someone else’s bill.

WASHINGTON – The Obama administration is refusing to quickly release government records on its “cash-for-clunkers” rebate program that would substantiate — or undercut — White House claims of the program’s success, even as the president presses the Senate for a quick vote for $2 billion to boost car sales.

The Transportation Department said it will provide the data as soon as possible but did not specify a time frame or promise release of the data before the Senate votes whether to spend $2 billion more on the program.

Transportation Secretary Ray LaHood said Sunday the government would release electronic records about the program, and President Barack Obama has pledged greater transparency for his administration. But the Transportation Department, which has collected details on about 157,000 rebate requests, won’t release sales data that dealers provided showing how much U.S. car manufacturers are benefiting from the $1 billion initially pumped into the program.

For the rest of the article go here:

http://news.yahoo.com/s/ap/20090804/ap_on_go_pr_wh/us_cash_for_clunkers_transparency

Face Fwd Comments:

Man I don’t even know where to begin on this……first we bailed out the automobile industry with our (that’s mine and yours) tax money.  It was supposed to be a “loan” but I think we all knew better than that.  Now we are stealing tax money from the tax payer again to buy the cars from the same car industry that we (the American tax payer) are supposed to own. HUH?

Just when you thought it could not get any more stupid……giving money to support the automobile industry, twice.  The Administration in all of their wisdom is also giving money to the same competition that drove the big three out of business.  It may say american Toyota on the plant but aI think we all know it is Japaneese owned. 

Watch as Toyota crushes a Ford…… the only american car company not on the take: