Apparently Congress' majority seems to think the American people aren't paying attention. To their credit, they are unfortunately right about a lot of Americans.
Currently, there is NO oversight of the initial $350 Billion bailout. Sen. Inhofe-R of Oklahoma is calling for a freeze on the remaining $60 Billion from the initial bailout and a freeze on the other $350 Billion yet to be wasted.
Why, you might ask? Sen. Inhofe says Congress has no idea where Sec. Paulson (the guy with Congress' blank check) has spent that money.
Support Sen. Inhofe's efforts to get Conressional oversight by contacting your State Rep. or Senator. Contact joesixpackamerican@gmail.com if you need help finding contacts.
If that lack of accountability and transparency doesn't shock your mental system, then you are so out of touch with what is happening with your government that it should make you sick. Not that everyone should know everything going on, but there was such a massive push for getting this bailout done and in such a short amount of time that EVERYONE should be questioning 3/4 of a Trillion dollars being taxed on the American people with no accountability!!!!!!!
This is what the Founding Fathers described so accurately described as TAXATION WITHOUT REPRESENTATION - and it's a VERY BAD THING!!!
This "bailout" that was initially meant for the housing industry so the Fed could help "right" the economy. It has since become Paulson's Piggy Bank for bailing out GM and other non-housing companies. Again, this is taxation without representation.
For those of you unaware of the financial PER PERSON cost of this bailout, we'll give you a breakdown. First, we're all going to get taxed to cover it, since we all know that government is not going to shrink to cover this expense. - - - Please tell me you weren't SO naive that you thought the government just had this money lying around. You DID realize this government "bailout" was coming out of your pocket...right? Right!?!?
There are roughly 300 million people living here in the United States of America. IF you assumed an even distribution of taxation per person to cover this bailout, every single person in the U.S. would be taxed this year just over $2,300. Remember, that assumes every person is paying taxes, which they don't. So, your taxation will likely be higher.
So, how would a net loss of $2,300 affect your family this year?
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1 comment:
Jason,
First, thanks for reading.
Second, a tarp is a flimsy material that is used to cover things in the back of a truck bed or as a temporary cover from a light rain. TARP is just as flimsy when you look at where the majority of the "outside" "expert" panel is going to come from. It's terribly convenient to appoint your friends to "oversee" your spending and "throw a bone" to the minority party to contribute to the "oversight."
To quote your own blog:
The panel must also submit a special report to Congress about regulatory reform on or before January 20, 2009. ((or what, they get their hand slapped - or will they actually get fined or something concrete for not abiding by the rules?))
The panel consists of five outside experts appointed as follows, one member chosen by the Speaker of the House ((BIAS - Nancy Pelosi-Democrat)), one member chosen by the minority leader of the House ((John Boehner-R)), one member chosen by the majority leader of the Senate ((BIAS - Sen. Harry Reid-Democrat)), one member chosen by the minority leader of the Senate ((Mitch McConnel-R))and one member chosen by the Speaker of the House((BIAS-Nancy Pelosi-D)) and the majority leader of the Senate((BIAS-Harry Reid-D)), following consultation with the minority leaders of Congress.
What's the problem?
I'll repeat - NO accountability and ridiculous bias. You can't see that??
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