bailout
The Obama team and Democrats are acknowledging that an economic stimulus plan equal to 4%-5% of US GDP is needed. In other words 500-700 Billion dollars are needed for investing toward infrastructure as a means of creating jobs to stimulate the economy.
If there is anything of value that we may have learned from the previous local discourse on the global economic crises I would hope that it is: it is healthy to read between the lines of the national discourse mainstream setting media (i.e. NPR, The New York Times, CNN, and all mainstream corporate media to the right of these).
Before taking another message and echoing and parroting again, lets take stock of where the financial bailout has put us.
While I was out (since the last post) this email appeared in my email box.
The stock market opens after the 700 billion tax-payer-money Wall Street
bail-out dropping a further
200 points with markets all over the world losing value also. Furthermore, US
Bank Failures expected to rise despite the Wall Street bail-out. The (non) effects of wasting 700 billion + losing 100 billion of tax revenue are already beginnig to be seen. Meanwhile, Congress is in recess and addresing the fundamentals of the system has remained unaddressed. Representative David Price feels secure in his vote for Wall Street as demonstated by his having voted twice in favor of this give-away even though his
rival has been outspoken against the bail-out.
The country has been getting ransacked over the last couple of weeks. On August 4th 2008 both houses of congress (Rep. David Price included) sanctioned H.R. 3221 and the conservatorship of Fannie and Freddie essentially saddeling the U.S. government with 5.4 trillion in debt that it is now responsible for!!!
Had we had a debate and expressed the outrage over this back then, gone into the streets banging our pots and pans .... the latest outrage, the proposed bail-out bill, would now be something that our Congressman David Price might think twice about before voting ... we should have broken down his door back in August!
The very wise, prophetic, yet ignored, Catherine Austin Fitts has summed this bill up:
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