Country now divided on Dems-vs-Reps

[iNow]

It's certainly possible I've read too much into it, and it sounds like we largely agree. I don't have a problem with using TARP funds for TARP purposes. I only have a problem with it being reallocated and distributed into new spending programs that serve different purposes.

Indeed, and I largely suspected that was the case... It just took some digging in of the proverbial heels to make sure.

 

 

In answer to your question, here's an article in the LA Times from less than a week ago that, although similar to the ABC piece, seems to interpret the jobs angle differently:

 

http://latimesblogs.latimes.com/dcnow/2009/12/obama-weighs-use-of-tarp-funds-for-deficit-jobs.html

Yeah, I had a feeling it was the LA Times article to which you were referring. It's unfortunately light on details and large on suggestion, and has stirred up quite an excrement storm across the conservative and "I hate Obama" communities and echo chambers. The thing is, I think most of that storm (as I shared with you above) is based largely on misunderstandings/misrepresentations of what is being proposed. TARP funds... in my estimation... are still being proposed for TARP purposes, but the context of the discussion is shifting toward the outcome of those actions... i.e. more jobs and available credit for small business and consumers.

 

 

This morning on "This Week" Larry Summers was pushing a new administration's line that the recovery (and jobs) will be in full recovery by spring.

Yeah, I saw that, too. Just to clarify, though, he wasn't talking about "full recovery" by spring, just that we should see more job growth by that time. It was interesting to hear him say spring since previous estimates were for job growth not really to hit until the second half of calendar '010. I won't hold my breath, though. As I said, we need to add 300,000 jobs every single month for five years, so I'm not going to be very impressed in we're "only losing" 2-5,000... ya know?

 

Anyway, I was pretty sure we ultimately agreed on this, and apologize if my frustration came through. We were obviously both working from a different set of assumptions, and to be fair, we'll have wait and see which of those sets of assumptions proves correct. I've tried to present a solid case for why mine was more accurate, but only time will tell.

 

Enjoy your night.

Edited December 14, 2009 by iNow