Obama; "Can you spare a $100 bil, friend?"

[Larry Gude (Premo)]

One day Obama wants to cut $100 million from programs that don't 'work'.

Say what you will about the size of the savings in relationship to the debt and deficit or wonder just how it is that anyone could find even a penny of waste and programs that 'don't work' in the federal leviathan; it's still good to save $100 million, right? That's $100 mil we don't spend, don't have to borrow, money our kids and grandkids don't have to pay back, right?

Well...

Obama proposes $100 billion U.S. loan for IMF | Politics | Reuters

President Barack Obama on Monday proposed a $100 billion U.S. loan to the International Monetary Fund to boost the IMF's resources and urged a bigger stake in the IMF for emerging powers.

Now, before you go shaking your head or laughing out loud, just be aware;

In a letter to U.S. congressional leaders, Obama said the U.S. funding "does not represent a budgetary expenditure or any increase in the deficit since it effectively represents an exchange of assets."

Feel better now? Government spending is now not going to come from taxing you and me. It is merely an exchange of assets.

[Lenny]

Originally Posted by Larry Gude

It is merely an exchange of assets.

I wasn't an English major in college. But I do recall an admonishment to use as few words possible to impart the message. Doesn't "exchange of assets" equal "wealth redistribution"?

[Larry Gude (Premo)]

Originally Posted by Lenny

I wasn't an English major in college. But I do recall an admonishment to use as few words possible to impart the message. Doesn't "exchange of assets" equal "wealth redistribution"?

Getting pretty silly, ain't it?

[ImnoMensa]

I admittedly dont understand high finances of this government.

If the IMF needs 100 billion dollars, why dont they borrow it from the same place we have to borrow it in order to give it to them?

Certainly we are exchanging assets, from whoever we borrow the money from to the IMF, but what's in it for us?

[bcp (Premo)]

I think what was meant was this.
He made that comment to insure everyone was aware of the fact that this was a one time deal, it would not go in the budget like money to Isreal, it would not be considered part of the debt because it will not be a long running yearly expense.

although, I dont see it stopping, I think that is what was intended by the remark.
and yes, it will be a part of the deficit for this year, however with creative book keeping, I bet its paid off and off of the deficit in only weeks, if not already.

see? wont cost us anything to buy friends.

[This_person]

Originally Posted by Larry Gude

Getting pretty silly, ain't it?

An exchange of assetts would imply that we are getting something worth $100,000,000,000 in return. What is that?

[Larry Gude (Premo)]

Originally Posted by This_person

An exchange of assetts would imply that we are getting something worth $100,000,000,000 in return. What is that?

Why, of course; The good counsel and wisdom of the International Monetary Fund, yet another heretofore undiscovered constitutional obligation of the potus to care for and see to the welfare of.

No doubt this will fixing the mortgage crisis.