Tuesday, September 23, 2008
Our New Socialistic Country
So, now that we have suddenly become a socialistic country, what becomes of the Bush Doctrine of spreading democracy throughout the world?
Our government is taking over the giant mortgage companies Fannie Mae and Freddy Mac, the insurance giant AIG, giving tens of billions of dollars in cash to banks all over the world, and now Ford, GM, and Chrysler are asking for handouts, too.
US Treasury Secretary Henry Paulson submitted a 3 page plan to Congress, giving himself more power than anyone else in the history of the United States, saying to trust him in making the right decisions. It would allow the Treasury the power to buy any financial instrument from any financial institution as a means to relieve it of bad assets. Estimated costs are 700 billion dollars and counting... Oh, and we have to do it now, before it's too late.
Of course both Democrats and Republicans are wary of trusting the Bush administration for anything and are trying to negotiate some responsibility into the plan. Republicans are challenging the cost and scope of the plan, wanting a cap on spending, while Democrats are pushing for an oversight committee and some help for homeowners. This is a good example of bi-partisan negotiations, with the Bush Administration being the third party.
I wrote before that the only way to guarantee that the oil taken offshore here will stay here is if we nationalized the oil companies. Perhaps this is all part of a plan, and they will be next, ha, ha, ha ha,ha!
at 12:26 PM