Political Punch

PELOSI, REID, AND OBAMA will say or do anything to get their greedy power hungry hands on that $700 Billion dollars. Once they get it, they will flush this country down the toilet ... and, all you fools who supported them will feel betrayed and victimized ... but you will have nowhere to go for help!

Like millions of Americans, I am really skeptical about this whole 750 Billion bail out. And, I'm especially skeptical about the RUSH to spend the 750 Billion dollars of tax payers money ... which does not allow independent economists the time to properly investigate and evaluate this plan. In addition, Bush and the Democrats seem to be united on this bail out. My guess is that Bush wants to pay back big money Wall Street people, who helped him over the years ... and, since the Democrats expect to rule both houses and, possibly the White House ... they are salivating at the chance to control spending the 750 Billion. In spite of all the rhetoric about careful spending and oversight, the Democrats have already allocated 20% of this huge sum to fund crooked liberal programs, like Acorn. If we simply print Billions for bail outs, even if the market returns, inflation will make our currency virtually worthless.
P.S. Did anyone ask Alan Greenspan what he thinks???

yeah your math is a bit off, it would cost 850 TRILLION dollars, not billion, trillion....beside the point where would the money come from?
Everyone who's NOT 18 would be paying this for years and years to come.

The general idea sounds cool...if only there wasn't such a thing as economics.

On to the point:
Both parties are bogus. Fighting over who's going to save the day when they were both responsible for the situation.
I respect democrats because for the most part they aren't trying to keep americans poor while a few get UBER rich.
I respect republicans because they have the balls to try and accomplish this.

Why is it that when the democrats are a minority in the house and senate the republicans can still get thigns done.
When it's the opposite the democrats can't get their shoes tied

In the same respect

Why is it that when Republicans run things the America turns to crap? Wars on tangible and intangeble objects: drugs, terrior, Iraq. Horrible economic plans, etc, etc.

The democratic party needs to man up and start lying like the republicans do.

I have these questions for McCain this evening?
Did he have any clue about the crises we are facing and can he explain to the American Public not in generalities but specifically of what he believes is a problem and the reason why we all are subjected to this pain

Not sure why this keeps getting removed.
I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S.
Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and
child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billion that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It
Dividend.

Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage - housing crisis solved.

Repay college loans - what a great boost to new grads

Put away money for college - it'll be there

Save in a bank - create money to loan to entrepreneurs.

Buy a new car - create jobs

Invest in the market - capital drives growth

Pay for your parent's medical insurance - health care improves

Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who
lost their jobs at Lehman Brothers and every other company that is cutting
back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is
being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult
U S Citizen 18+!

As for AIG - liquidate it.

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can 'never work.'

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion

We Deserve It Dividend more than I do the geniuses at AIG or in Washington
DC

And remember, The Birk plan only really costs $59.5 Billion because $25.5
Billion is returned instantly in taxes to Uncle Sam.

I applaud the House Republicans for opposing this most unprecedented transfer of wealth and power in US history. The Paulson/Bernake plan is Tyranny in disguise. I also applaud Sen. Shelby for his work as well.

While most lawmakers battle over the minutia, the core provisions of the proposal are still intact.

You can put lip stick on Tyranny but it is still Tyranny.

I have been calling my Congressional representatives all week telling them that if they support the bailout proposal, they will pay come November.

I have urged many to do the same.

Before Congressional leaders, police officers, military personnel, and even presidents take their position, they must swear to uphold the Constitution against enemies both foreign and domestic. The execution of this proposal would create the greatest domestic enemy to the Constitution ever.

And don't forget about the price tag which, like always, will far exceed expectations.

S Adams - You seem really concerned by the Presidential candidate's call to DC. So, can you explain to me what John McCain's position is on the economic bailout, and what kind of positive or constructive influence his presence had in Washington yesterday? As far as I can tell, he was completely clueless, refused to take a stand, derailed the proceedings for a few hours and then hopped into his family jet with Cindy and flew to Ole Miss. I agree with Obama - having the two candidates in Washington served absolutely no purpose - there was actually progress being made and some bi-partisan work for a change. Thank God they both left.

Democrats are insane. The bailout falls apart, thank god, and they're up there insisting we give 700B to Paulson and his cronies. Yeah, like the guys that broke it can fix it. If there was a viable third party, I'd be gone because the other two are frick and frack.

So, can somebdy tell me where John McCain stands on this issue? I'd love to hear it. Does he stand with his Republican president or not?

Chris--Barney Franks is as clueless as the rest of the libs in Congress, maybe more so.
The same Barney Frank you are talking about had a romantic relationship with a top exec at Fannie mae, Herb Moses and franks also was a top reciepient of Fannie Mae campaign donations.
Barney Frank on Sept 10, 2008, "Fannie Mae an Frethie Mac are noth fathing any kindth of thinathal crithis"

Yeah he's a REAL reliable source about this financial crisis mess.

Harry Reid is a sick person!! Do you remember him saying a week ago, we (Congress) are leaving town. We are in unchartered territory, we don't know what to do. Now, all of a sudden, he wants John McCain to leave town???? Why? I believe it is way past time for Harry Reid to give up politics and retire in the sun!! Sooner than later!!
Posted by: Nan | Sep 26, 2008 2:41:41 PM
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Nan--My thoughts exactly, and he can take Pelosi, Dodd and Franks with.

Bernie Franks plan, which is on his website seems to be the most forward thinking plan. 10% surplus tax on those making over a million a year. This would raise 300 billion over 5 years.

The 700 billion dollar was just an estimate. There are no facts supporting that amount. This is a very important moment in our country.

Politically it looks like the Repubs have an agenda. Make it look like they are going against Bush while the Dems support him. Brilliant move. Lets just hope the American people realize the Dems are actually throwing around ideas and the Repubs are just sitting around saying no. I agree the bail out plan sucks, but come up with a plan.

This initial deal was done in the Senate banking commitee. It consisted of both Reps and Dems. No one but the White House knew that Paulson had this deal in the works for months until Fratto let this info slip out. I agree there should not be any rush to get an agreement and that all options should be explored. As far as the Dems passing this on their own, they learned their lesson on this back in 1993 when the Reps screwed them on some unpopular legislation that needed to get done. As far as the Glass Steagal bill goes, it was a Rep, Phil Gramm who wrote that legislation and snuck it in with a spending bill just before Xmas that year. The same guy who is responsible for the Enron loophole that has allowed specualation to run wild and nearly brought California to bankruptcy. When it comes to this 2005 thing and McCain supposedly saving the day, the thing people seem to forget is the Reps were still in control of both houses. So if the legislation was so good why couldn't McCain get his own party to support it?

Congressional Democrats are ignoring their constituencies to pass a flawed bill that will cost us billions if not trillions of dollars. They are ignoring other options and siding with the Bush white house. You can try to crap on McCain on this one but honestly it is the Democrats once again failing their country.

Ask yourself...why no other economics and financial gurus are being interviewed in front of Congress? There are plenty of alternatives and the people in overwhelming numbers are voicing their "NO!" to the Bush/Paulson plan. Sorry I am a Democrat and I believe Pelosi, Reid, Barney etc should all be recalled if they won't listen to the will of the people.

Harry Reid is a sick person!! Do you remember him saying a week ago, we (Congress) are leaving town. We are in unchartered territory, we don't know what to do. Now, all of a sudden, he wants John McCain to leave town???? Why? I believe it is way past time for Harry Reid to give up politics and retire in the sun!! Sooner than later!!

Both parties are scare. Dems don't want to pass it on their own for fear of it turning to garbage and then the republicans using it against them. Republicants don't want to do anything because NOW the way to be fiscally conservative and all of a sudden they are back to BIG government = bad. Where were these republican clowns for the past 7 years when this government was growing wildly out of control in both size and power? I mean they were all for borrowing x billions from China to fund this bogus war, now they don't want to do it to save the country...priorities people...where are they? There's plenty of blame to toss around on this one, lets just get the thing done.

I would have to agree that Obama's position has not changed regarding the financial crisis... because he DOESN"T HAVE a position.

mccain blew his opportunity to arrive in Ms by parachuting out of a plane wearing his superman shirt. - Now he just looks silly - but maybe he always did.

hopesprings52--How are the Republicans at fault here when the Dems have a majority in the House and Senate? They could pass the bill without Republicans, however, some Dems are holding off because of the "extras" the Dems Pelosi, Reid and Dodd had put in, like 20% of part of the $700 billion bailout to go to the ACORN org. who is being investigated for fraud. This is an organization that Obama was a leader in by the way.
McCain is showing leadership, just by being there, Obama looks like an inexperienced man child who is out of his element.

"If Bush's own Party will not buy into it, the Dems should walk away."
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It's the "Dems" who ARE Bush's own Party -- who wouldn't impeach him, who went along on torture, etc.