Tuesday, September 30, 2008

Why are they so Desperate?

To authorize a measly $700 billion?

According to McCain, they could spend a cool TRILLION without Congressional approval.

Economists from all over the country are yelling STOP! In a letter sent to the Senate on 9/24, they wrote:

Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.

More economists signed onto this open letter from the Freedom Works foundation (Dick Armey's group)

Granting the Treasury broad authority to purchase troubled assets from private entities poses a significant threat to taxpayers while failing to address fundamental problems that have created a bloated, over-leveraged financial services sector.

McCain is on TV right now talking about "Dire Consequences".
Obama says we can't have many more days like this one.
What is that, days where the stock market rebounds from a, um, minor (7%) drop?

They're still trying to panic us.


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