Obama votes for bailout
I swear, if the other guy wasn’t a doddering moron with allusions of being a dictator, Barry would be one vote shy:
Obama Betrays the Middle Class: Votes for “Bail out the Rich Act”
I can’t think of any way to sugar coat this, I’m afraid. It’s a bad bill and it isn’t just that Barack Obama voted for it, it’s that everything I’m hearing from the Hill says that he’s been actively whipping it, not just in the Senate but in the House. Barack didn’t hold his nose and vote for this, he made it his bill as much as it is Paulson’s.
With this bill go your chances of having, say, universal health care, or massive infrastructure development, or really getting the US of its dependence on foreign oil, or really rebuilding America’s school system–or whatever other big, expensive project you thought Obama was promising. 700 billion is a lot of money, and in the end this is almost certainly going to cost even more than that. Probably at least 1.5 trillion. (The technical term, I believe, is ‘good money after bad’).
As Michael Moore points out, the richest 400 people in America, who own as much as 150 million Americans, coincidentally saw their net worth increase by, oh, 700 billion during Bush’s reign. They got that money largely based on government largesse and private fraud aided by deregulatory administration officials. And they don’t intend to give it back to pay for the mess that they and the people who, in effect, work for them, have created.</em>
