If you think things are going south now, just wait until Geither has the power to seize failing financial institutions. From the Washington Post: Here's the less delicate FOX version: Luckily, even Democrats are acting cautious about this new power that Geithner is asking for. House Majority Leader Steny Hoyer said, "I want to discuss it with a number of people. Obviously one of the issues that Congress is concerned about is the delegation of authority. We are talking about huge sums of money -- huge consequences for one individual." This is absolute insanity. The United States Treasury Secretary wants the power to seize entire financial institutions because of what he calls the "broad failures of our financial system." Read: capitalism. He wants to "ensure that our country never faces this situation again" by, I presume, completely remolding the financial sector into a dependent of the federal government. This isn't just disheartening -- it's downright scary.
Especially a guy who couldn't handle his own finances, a tax cheat. I don't like the power these guys are given, I certainly didn't approve of Bush's guy either btw! IMHO this country is going mad, plain and simple! People are willing to give up freedom for financial security!
Well, there is a time to spend and a time not to. If ever America needed spending it is now, to bridge this economic crisis and both administrations have done so since August. So, I understand the spending had to happen now. What it can't do is to go on forever. At some point we have to pay down the national debt or go bankrupt. It will mean less spending, more taxes, ruthless elimination of waste, and better global competition. Easier said than done when Representatives have to go to the polls every 2 years. This encourages a "spend-quick-and-get-the-pork-home" attitude based around getting re-elected at home rather than what is in the best interests of the country.
I can't believe people are still talking about these AIG bonuses. Where is the F'in outrage at your govt spending 700 billion here and 700 billion there and now asking for a 3 trillion budget. GET YOUR HEAD OUT OF THE SAND. And I'm glad to see SF finally talking about this Govt printing money and delluting our dollar.
A time to spend? So now we are spending for the sake of spending? This is crap. There is a time to streamline, cut programs, and remove wasteful govt departments. Shrink the Govt, remove wasteful spending, and give the people tax cuts. All of this spending right now is doing our economy dick.
I think we've reached the point that it has to stop. If it means postponing grandiose plans about healthcare, global warming and alternative energy, so be it. STOP! NOW!!
No, we are spending to keep the economy afloat, where the hell have you been? Prove it. How can it not help the economy to run a Trillion dollars through it? Closed stores and factories, bank failures, and people out of work is an anchor on us all.
