We're talking about the current bail-out....keep up.
Which, congress had absolutely nothing to do with. They've been screaming from the hill for Bush to tell them what he's doing. He didn't want to. All of congress... not just the majority of one representative party. (which is only BARELY a statistical majority... not a workable one.)
So he sent Burnanke up last night to talk about it. This is why congress, as a whole body, is upset. There is absolutely no check on this particular power, from unelected offices in the Fed.
Burnanke, got all smug, saying "85 billion? Ha, we have 800 billion." In unprinted currency, is what he forgot to mention. We just used up 10% of our emergency funds. More than that, and inflation begins to take over. In the end, through this plan, our debt goes up again, and we the tazpayer are stuck with it.... without a vote from congress, our
elected representation.
Bush has, in the last 8 years, (6 of which he had an unrestrained majority in both houses) more than DOUBLED our debt. Standing at over 9 TRILLION dollars, debt. (he inherited just about 4 trillion) Tell me how this position is defensible, again?
