Sunshine Is The Best Disinfectant.
"I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They're efficient. They're flexible."
"Our policy in this administration -- laws shouldn't bail out lenders, laws shouldn't help speculators."
"Our economy has continued growing, consumers are spending, business are investing, exports continue increasing and American productivity remains strong. We can have confidence in the long-term foundation of our economy...I think the system basically is sound. I truly do."
Those were the words of Treasury Secretary Henry Paulson and President George W. Bush just a few months ago.
Today, of course, they have been proven completely wrong.
They are now telling us we are in a dire crisis, and that we must hand over hundreds of billions of dollars so they can lead us out of this mess.
What's amazing to me is that the administration seems a little surprised that Congress and the American people are not marching in lockstep with them on this and not fully appreciating the urgency.
Well here's why, in one word: ACCOUNTABILITY!!!
"When they are speaking, they are lying. When they are silent, they are stealing."
Inside The Meltdown
FRONTLINE investigates the causes of the worst economic crisis in 70 years and how the government responded. The film chronicles the inside stories of the Bear Stearns deal, Lehman Brothers’ collapse, the propping up of insurance giant AIG, and the $700 billion bailout. Inside the Meltdown examines what Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke didn’t see, couldn’t stop and haven’t been able to fix.
FRONTLINE INVESTIGATES HOW THE ECONOMY WENT SO BAD SO FAST
Effects On National Debt
The United States annual budget deficit for fiscal year 2009 may surpass $1 trillion. The original Paulson proposal would lift the United States federal debt ceiling by $700 billion, to $11.3 trillion from the current $10.6 trillion.
"When we add an additional trillion dollars to the debt, the burden of the taxpayer, sooner or later there's got to be a reckoning,
House Passes Economic Recovery Bill - Good luck in your next Job.
If one lost their thumb, fore-finger, ring finger and little finger, they would be positioned to salute Congress.
I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts. ~ Abraham Lincoln
"A billion here, a billion there, and pretty soon you're talking about real money." ~ Everett Dirksen