Friday, October 03, 2008

Senate ups the Price Tag for Bailout to $850 billion

Yesterday the US Senate voted on a bailout bill that not only gives the oversight to to the very same people that have caused this whole financial mess it also ups the price tag to 850 billion dollars from 700 billion. There was a lot of back slapping and self congratulations at the press conference for wonderful and smooth process of passing this bill. Not one word was spoken about how or who was going to pay for this overinflated financial monstrosity. Senator Tom Coburn of Oklahoma gave his enlightened insight on the the floor of the Senate during the debate before the vote. I think his remarks are the most relevant I have heard yet on this whole matter. I hope some of the Representatives in the House were listening to this argument and take it heart when they vote on this unconstitutional bailout bill on Friday.