We were told less than six weeks ago by the Congressional Budget Office that the taxpayers may have to spend up to $25 billion dollars bailing out Fannie Mae and Freddie Mac. Secretary Paulson and Federal Reserve Chairman Bernanke assured us that beyond that, all was well. Why is anyone still listening to Paulson and Bernanke?
The announced bailout plans six weeks later have costs that Paulson and Bernanke now admit will run at least into the hundreds of billions of dollars. But why is anyone still listening to Paulson and Bernanke?
Obama and McCain are listening and so is President Bush. Can you say "panic?" McCain wants to call off the debate to "attend to the people's business." Obama still wants to debate but both want to give away the $700 billion to Paulson and Bernanke because they want people who can't afford homes to still have access to credit backed by the government. Representative Ron Paul and Senator Jim Bunning have denounced the bailout as a scam to milk the taxpayers for the problems created by the very people who are proposing a "solution" but it seems that no one is listening. McCain is clueless and panicked. Obama is just clueless.
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