The $700 billion corporate welfare package signed into law today is bad enough on its face. But the more that is learned, the worse it looks. This bill, and the fact that our nation’s leaders approved it , is a disgrace. A complete, utter disgrace. This country’s slide toward socialism got a huge shot in the arm from this bill.
Not only are we bailing out corrupt politicians who caused this mess to the tune of $700,000,000,000, we are now expected to pay off people’s mortgages! From cnet news:
“The Treasury Department is authorized to “guarantee” home mortgages, essentially becoming a kind of co-signer, to reduce the number of foreclosures. If the home owner stops paying his or her mortgage, taxpayers would be on the hook. The Treasury Department can also eliminate a “reasonable” amount of a home owner’s mortgage debt, under section 109 of the new law, which would likely delay the process of house prices falling.”
Unbelievable. Where is the accountability here? Whatever happened to taking responsibility for your decisions, including financial? We, the taxpayers, now have to pay off our neighbor’s mortgage if they decide not to.
The story also has a nice tally of what we’ve had to foot so far for all of the government bailouts and takeovers: $1.8 trillion+
There is no way we can survive as a nation by digging a deeper hole of debt and printing more and more money to pay for it all. Every single politician who voted for this bill should be voted out of office. That includes Barack Obama and John McCain. They have taken a short-sighted view of this problem, as have most in Congress. Rather than considering what this madcap spending does in the long-term, they’d rather be seen as doing something in the here and now.
Delaying the inevitable will not prevent it.