Paulson’s Track Record Not So Strong on Facts
http://www.foxbusiness.com/story/markets/economy/paulsons-track-record-strong-facts/
When Treasury Secretary Henry Paulson trekked to Capitol Hill Tuesday to sell his (latest) proposal to unwind the mess flowing from the mortgage meltdown, he had a track record to contend with…and a cloudy crystal ball.
The Secretary’s public statements and forecasts have been less than stellar, suggesting members of Congress may want to take his latest predictions and broad brush statements with a degree of caution.
On Jan. 18, speaking about the proposed “short term growth package” — neither the White House or any members of the Administration called it a “stimulus” until it was signed into law — Paulson asserted “the long-term fundamentals of the economy are strong, and I believe our economy will continue to grow.”
At the end of July, the Bureau of Economic Analysis reported the U.S. economy did not grow, but actually shrank during the first quarter of this year (January-February-March).
At the end of January, Paulson was pushing the “growth” package, which included tax rebates and told the Real Estate Roundtable it “is expected to help create more than half a million jobs by the end of 2008. We know from experience that both immediate tax relief for income tax payers and incentives for businesses to invest and hire are effective in creating growth and jobs in the short-term.”
-—more at the link————
That is the first I have heard about Chase!
Hank Paulson will soon be buying some assets that are backed by your unpaid Chase late fees.
Colleges are also lining up at the pig trough to get the government to pay for all the college loans in default. The dems want to pick up that tab in this ‘bill’ as well.....scaring people that college loans will not go through now and millions of people will not be able to attend college this fall. Bull hocky!
However...if true,what better way to get tuition rates under control than to have no students show up for academic indoctrination this fall? LOL Tuition rates would drop like stones!