Posted on 09/25/2008 7:38:27 AM PDT by cougar_mccxxi
Bush Warns "Entire Economy Is In Danger"
Media reports are casting President Bush's televised address last night as both a warning to the nation on the severity of the financial crisis and an attempt to push Congress into passing his proposed bailout. A number of the stories remark on Bush's stark warnings about the health of the economy. Roll Call, for example, says Bush "sketched a frightening view of the economic danger," and used "unusually blunt and even dramatic language." The New York Times reports Bush told the country that "'a long and painful recession' could occur if Congress does not act quickly."
(Excerpt) Read more at usnews.com ...
Of course having the dollar’s value fall off a cliff, with $250 a barrel oil, is no danger at all, right George??
Bush: “I think Peter may have some dough..” Bah.
The president looked dreadful, and frightened.
Wasn’t his best moment.
President Bush:
Please be our scapegoat of hate because we refuse to think for ourselves.
The disappointing thing about President Bush’s speech last night was the comment he made about the need for the financial bail out BY THE AMERICAN TAXPAYERS. I’m pretty angry about this damn mess.
Weapons of mass destruction, stay the course, the economy is fundamentally sound; key phrases for 7 years from the crook we elected president.
Folks, republicans, democrats or independents, can we all agree big business and government are working together to screw the American people out of their wealth and their liberty?
No, I’m not totally convinced about “big business.” I am convinced it is BIG GREED from all sectors.
Yes, well it’s not my bill...
So why must my children and I pay it.. ??????
“the creatures outside looked from pig to man, and from man to pig, and from pig to man again, but already it was impossible to say which was which.”
This is no time to be a productive and self sufficient citizen.
Thomas Jefferson was concise in his early warning to the American nation, “If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.”
Well put, TN.
Are we positively sure that Senator McCain is going to sign on to this bill just because he came back to D.C.? or will he be a maverick this time?
Since you are so obviously just an innocent victim of the eeeevil gub'mint and their cohorts in Big Business, may I suggest you cast your vote for the Annointed One so you can get your obviously richly-deserved payback from the fat cats that have spent their entire time planning how to screw over you, cougar_mccxxi?
Oh, and according to all the other keyboard warriors here, you better pull all of your money out of the bank and stuff in your mattress. I think the bank runs all start next Tuesday or Wednesday. After all, our economy is tottering on the brink, doncha' know.
Screw the sarcasm tag, you whining sissies that have been all over this board lately sicken me. But what do I know, I'm just a "bushbot" with my head stuck in the sand.
Dear XXXXXX:
Thank you for writing to share your concerns on the current state of the U.S. economy and the government’s response to the ongoing stress on our financial markets, homeowners, and families.
From Wall Street to Main Street, the U.S. economy is in trouble. We have suffered 600,000 lost jobs since the beginning of this year, over a million families have lost their homes to foreclosure with millions more at risk, and many banks and other financial institutions are struggling to stay afloat. The bailout of investment bank Bear Stearns, the federal takeover of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the Federal Reserve’s emergency intervention to save AIG, and the emergency Treasury action to shore up money market mutual funds demonstrate the seriousness of the situation we face.
In response to these concerns, Federal Reserve Chairman Bernanke and Treasury Secretary Paulson have met with congressional leaders to request legislation that would authorize direct intervention in the economy. The plan would grant the Treasury Secretary $700 billion to purchase bad assets from financial institutions. By doing so, the Treasury would inject much needed liquidity into the market and work to rescue the economy from a worsening downturn.
While I agree that urgent and decisive action is necessary during this time of economic turmoil, I will not grant a blank check for billions of taxpayer dollars to the Treasury to bail out banks, with no oversight, accountability, guaranteed help for homeowners, or even assurances that the risky plan will work to the benefit of American workers and taxpayers.
Instead, we must insist upon a plan that includes relief for burdened homeowners, ensures restraints on exorbitant executive salaries, and ensures that the American people share in the upside as Wall Street recovers. It is also critical that the power to spend $700 billion is not left to the discretion of any one person but is instead under the rigorous oversight of an independent and bipartisan board.
Further, we need to move forward on a second emergency economic stimulus plan including tax rebates to help families cope with rising food and gas prices and investments in jobs and relief for state budgets.
In closing, be assured that as this process moves forward I will continue to work for a fast, fair and viable response to our nation’s economic crisis. Again, Steve, thank you for sharing your comments and concerns with me. Please feel keep in touch on this, or other matters of importance to you.
Sincerely,
Barack Obama United States Senator
P.S. Our system does not allow direct response to this email. However, if you would like to contact me again, please use the form on the website:
http://obama.senate.gov/contact/
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We can rest assured Barry is getting Johnson and Raines right on it.....to see what's in it for them...AGAIN.
Thank you for your concern liberty.
Here is more interesting reading for those that still believe our benevolent government is there to safeguard your liberties.
http://sonic.net/sentinel/naij2.html
There are other interventions the government could reasonably make.
THIS intervention sucks and is unacceptable.
>> you whining sissies that have been all over this board lately sicken me
Just to make sure I understand you: you’re saying that anyone who thinks the $700 billion bailout is a “whining sissy”?
Or are you meaning something else?
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