President Obama (I can say that now that it is official) is warning America that we need to support his $750B bailout. Specifically, he warned that failure to take “dramatic action” on the package as soon as possible would have devastating long-term consequences for America.
Funny thing, Hank Paulson said four short months ago about the proposed $700B bailout, “I am convinced this bold approach will cost American families far less than the alternative — a continuing series of financial institution failures and frozen credit markets unable to fund economic expansion.”
This after taxpayers were asked to fund Bear Stearns, Fannie Mac, Goldman Sachs, Morgan Stanley, AIG, $150B for the original “economic stimulus” and the big three auto makers. What reason do Americans have to believe or even listen to Obama for this time? More of the same, second verse, same as the first. Given our government more money is like giving a debt-ridden spendaholic a brand new credit card. When will this insanity stop?
