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Discussions on the budget are far overshadowed by the ongoing debate over a $700 billion bailout plan for Wall Street. But the amount of money at stake — including a $488 billion Pentagon funding bill that hasn't seen a second's worth of public debate or review — is almost as great.
Originally posted by tommy_boy
Folks, Meet the Republican Party! The Mask is Finally Off!
Think about what has happened. The so-called Anti-Socialist Party (the repubs) has now socialized the debt of a massive economic corporate bailout to the American Taxpayer while privatizing the wealth. This is the same administration that also wants to hold YOU, the average American, accountable for your financial misfortunes, for your inability to pay your mortgage, while at the same time bailing out their corporate cronies, who apparently should not be burdened in the same way.
Think about this. If you got an Interest-Only loan for $450,000 that has adjusted, and you can no longer afford your payment, Bush and the repubs believe you should own your mistakes and lose your home. But now that the CEO's of Bear Stearns, AIG, Indymac, Countrywide, etc, have run their companies into the ground, YOU, the same person that needed help with your 450K loan, now have to own part of a massive Trillion Dollar Bailout debt of these mis-run and corrupt enterprises.
And for those of you that saw Fox News Sunday today (9/21/2008) with Sec. Paulson, he said when asked if this bailout for WALL STREET will also include assistance for MAINSTREET (e.g. the average home-owner that is getting screwed by bad loan terms), he admitted that the administration has no intention on bailing out the American consumer.
Only the wealthy...
[edit on 21-9-2008 by tommy_boy]
The President daily saying give 700billion to his friends.
The Republicans trying to pass a bill that would give one man absolute power but the Democrats trying to pass another that would help the little man and keep control of the money with Congress as it should be.
Republican anger at ‘financial socialism’
The legislation is coming together in a remarkably secretive process in which decisions are concentrated in the hands of just a few lawmakers such as House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid and House Appropriations Committee Chairman Dav
Originally posted by jam321
I don't see it as giving it to his rich friends. I see it as helping out regular people who will lose jobs if something isn't done. This will only add to our country woes as unemployment escalates, prices rise, and people are unable to pay their bill. Whether it is the real solution only time will tell. Even the best economist can't guarantee it but it is better than doing nothing.
In 2004, as regulators warned that subprime lenders were saddling borrowers with mortgages they could not afford, the U.S. Department of Housing and Urban Development helped fuel more of that risky lending
Not only is our economy that is at risk But our Constitution aswell!