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Bush Prepares to Ask for Second Tranche of Bailout Funds
Washington Post ^ | Friday, January 9, 2009; 5:17 PM | By David Cho and Lori Montgomery

Posted on 01/09/2009 2:53:17 PM PST by MaestroLC

Senior Bush administration officials are preparing to ask lawmakers for the second half of the $700 billion financial rescue package despite intense opposition in Congress and then have President Bush use his veto if the request is voted down, three sources familiar with the matter said.

The initiative, which is being coordinated with the Obama transition team, may be taken within days, the sources said, speaking on condition of anonymity because no announcement has been made.

Democratic Senate aides were notified in a meeting this afternoon that the request could come as soon as this weekend and that a vote could be held as soon as next week, congressional sources said.

Under the emergency rescue legislation approved by Congress in October, the administration must inform lawmakers that it wants access to the second installment of $350 billion. Congress would have 15 days to reject the request before Treasury can begin to tap the funds.

The plan now being crafted by the Bush administration is not finalized. By unsheathing the veto threat, the Bush administration could make it more likely that the Obama administration would get the rest of the rescue funds. Only if Congress overrides the veto would the money be blocked. A congressional source said advocates of the plan are now exploring whether there are enough votes in the Senate to override a veto.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: bailout; bush; trollsonparade
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To: MaestroLC

WTF is wrong with him? He is really pissing me off. He’s a RINO and we never knew it until the last couple of years. I bet the Dems love him now. He’s on of them.


21 posted on 01/09/2009 4:57:52 PM PST by mojitojoe
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To: Sybeck1

Yes it’s too late to impeach this incredible simpleton. Sheesh, what a maroon.

There is really almost no way this next jerk cannot look better, even if he sleeps for the next four years. Hey, not a bad idea.

Bush is a seriously stupid individual.


22 posted on 01/09/2009 5:10:43 PM PST by Carl from Marietta
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To: MaestroLC

Keep printing that money, George.


23 posted on 01/09/2009 5:11:31 PM PST by mysterio
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To: mojitojoe
He’s a RINO and we never knew it until the last couple of years.

Some had misgivings quite early on, actually.
24 posted on 01/09/2009 5:12:10 PM PST by mysterio
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To: bamahead

If I were a member of Congerss, I would tell Bush to shove it.


25 posted on 01/09/2009 5:42:32 PM PST by Clintonfatigued (If greed is a virtue, than corporate socialism is conservative)
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Comment #26 Removed by Moderator

To: mojitojoe

Handing over a multi-billion dollar education bill to Ted Kennedy didn’t do it for you?


27 posted on 01/09/2009 8:54:07 PM PST by TigersEye (This is the age of the death of reason.)
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To: MaestroLC
Fantasy... Bush should ask for the money in $100 bills, stack it up in the Rose Garden and burn it! Then hand Obama the key to the White House and fly off to the Republic of Texas! Yeeeee Ha!
28 posted on 01/09/2009 11:01:07 PM PST by April Lexington (Study the constitution so you know what they are taking away!)
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To: MaestroLC

Maybe the idiot should find out what happened to the first half of the money that hasn’t fixed anything, before asking for more.


29 posted on 01/10/2009 12:52:37 AM PST by Tempest (Obama is not my president.)
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To: MaestroLC
Excuse me but WTF
30 posted on 01/10/2009 9:33:32 AM PST by Lilpug15 (Obama: "They Need More Arabic Translators in Afghanistan...")
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To: EEDUDE

>>How are Republicans ever going to stand up and argue for fiscal restraint and smaller government

The mouth is not the only orifice.

They cannot. They do on TV and one just has to marvel at the way politicians lie and prevaricate.


31 posted on 01/12/2009 1:15:58 PM PST by swarthyguy ("We may be crazy in Pakistan, but not completely out of our minds," ISI Gen. Ahmed Shujaa Pasha)
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