
Congress passed and President Bush signed today, the Peoples’ Mother of All Bailouts, committing 700 BILLION dollars. This rescue package is designed to ensure that
- Greedy and idiotic buyers with poor credit that took excessive loans with the agreement to pay back the money will no longer have to honor their part of the contract.
- Greedy and idiotic bankers that happily made loans to the aforementioned buyers for 125% of the collateral value will no longer have to suffer the consequences of their own actions by selling their BMW collection to purchase their beluga caviar in bulk.
- Greedy, idiotic and socialistic congressional Democrats and Republicans that attempted to ensure equality of outcome by forcing bankers, though legislation, to loan money to people that had demonstrated that they were incapapble of paying it back believe that they will no longer have to be answerable to the taxpayers.
President Bush applauded the destruction of free market principles and the introduction of a socialist economy with a Rose Garden speech, saying
There were moments this week when some thought that the federal government could not rise to the challenge.
This statement, of course, is an outright lie — this Congress and this President have never ONCE failed to “rise to the challenge” of wastefully spending taxpayer money, and insinuating anything different is not only insulting, it’s a lie.
I’m curious, exactly, as to how many taxpayers would have to refuse to pay their taxes in protest (can you say indefinite extension filing?) before our glorious peoples’ government would be UNABLE to fund this bill?
To the elected representatives, I say this — enjoy your time in office, because this is, most assuredly, you LAST term in office.