Oh, to be waxing nostalgic to our America just eight years ago.
Helping needy banks costly, says Administration
President George W. Bush, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, acknowledged that the program will put a “significant amount of taxpayers’ money on the line.”
The administration is asking Congress to give it sweeping new powers to execute the plan – the biggest proposed government intervention in financial markets since the Great Depression, a plan that costs taxpayers hundreds of billions of dollars. [Bush News Promo]
Sweeping powers? Sounds good to me.
It’s time we swept out the puffery of false patriotism such as renaming TSA’s ops building the Freedom Center.
It’s time we aimed at the tabloid throat of Republican election engineering.
It’s time to refuse the anarchists of Evangelical Greed.
Just eight years ago, our nation had nearly a trillion dollar surplus. Before Bush, the Congressional Budget Office 2001 projection for the following ten years accumulated $5.6 trillion surplus for 2002-2011.
How has our SURPLUS become a DEFICIT?
One, philandering corporate welfare.
Two, upper bracket tax cuts.
Three, costly ridiculous security.
Four, adventurous war.
The Bank Health Care Plan?
Where is +$600 billion for this financial system bailout coming from? Obama says, “So let me get this straight. Run health care like they’ve been running Wall Street?”
Paul Krugman at the NYTimes warns, “You might want to be seated before reading this. Here’s what McCain has to say about the wonders of market-based health reform:
Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.”
Grow up and weep, America.