Bailout a tough sell despite warnings
the bipartisan skepticism that greeted Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke on Capitol Hill on Tuesday showed the $700 billion rescue package will be a hard sell at best.And a hard sell this should be.
The Bush administration has lied many times in the past. The dire warnings in the current financial crisis are a tough pill to swallow knowing the past history of those in control today. And to put $700 billion in the hands of any one person is beyond any measure of acceptability.
Congress and the American public must demand accountability in all governmental affairs. Open, fair, and accountable processes are the only way the public is guaranteed honest representation. Our elected officials at all levels must be kept accountable for every vote, for every position taken. Without each of us holding our officials accountable we are at the mercy of the backroom deals of the past.
The current financial crisis is threatening indeed. But to rush to resolve the issue by borrowing and spending an additional $700 billion is unreasonable at best. This should be the toughest sell the administration has faced to date. Too many times in the past Congress has buckled under without much of a question. This time we need real backbone and a strong stand from all our Congressional leaders.
Peace.
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1 comment:
Some financial bailout bill will be passed, I have no doubt. My hope is we will see full and responsible evaluation of the situation rather than a rush to spend without concern. The Paulson ideas are not worthy in my mind. We need a much better and much more responsible solution.
Peace.
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