Posted by
BrianW on Wednesday, September 24, 2008 7:27:20 PM
For the last several days I've been closely watching the U.S. House to see what is being done about the market situation. I'm no senior economist by any stretch, so I'm listening and considering all sides in this matter, but it seems most agree that the best move is to go forward with a "bailout". Well, today the House decided that if President Bush wasn't going to come in person and explain to them all the details of the package he expects them to create that they would simply fall back on their status quo - Do Nothing.
I hear that a $700B "blank check" would be a very dangerous thing to hand the Secretary Treasurer without serious oversight, etc. Yet, today did anyone notice that a >$650B spending package funding the wars etc. was passed with very little said?
Now, I'm sure we needed that legislation passed post haste as well, but it just seems odd to me how we fuss so excessively over one $700B issue and almost silently pass a $650+ measure.
Whatever is to be done, it's definitely time to stop politicizing the most important issues and get something important done - like maybe a mandate to get us some more oil ASAP.