Obama proposing $100B loan to IMF - Politics and War Forum

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Obama proposing $100B loan to IMF
Tuesday, April 21, 2009 7:05 AM on j-body.org
from here:
http://www.reuters.com/article/politicsNews/idUSTRE53J6NH20090420?feedType=RSS&feedName=politicsNews&rpc=22&sp=true

can someone explain this to me?
Quote:

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."


we're loaning money to the IMF, and it just represents an exchange of assets? how does that work?



Desert Tuners

“When you come across a big kettle of crazy, it’s best not to stir it.”



Re: Obama proposing $100B loan to IMF
Tuesday, April 21, 2009 3:51 PM on j-body.org
Simple:







Re: Obama proposing $100B loan to IMF
Tuesday, April 21, 2009 6:19 PM on j-body.org
^^^ that's what I thought.

the "effectively represents an exchange of assets" part tripped me up a bit.



Desert Tuners

“When you come across a big kettle of crazy, it’s best not to stir it.”


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