700 Billion HuH?

[warpig]

I was reminded today of something that happened before the October suprise of a bail out................

Voted into law 7/26/2008............. those bastards knew it was coming.


H.R. 3221 - Summary: Housing and Economic Recovery Act of 2008 (GovTrack.us)

H.R. 3221: Housing and Economic Recovery Act of 2008

-Increases the national debt limit from $9.82 trillion to $10.62 trillion (Sec. 3083).

• "Total unfunded liabilities of USA over 56 trillion yet today House voted to increase this liability by nearly 10 percent"
• "America's annual budget 2 trillion -- mortgage bail out taxpayer guarantee of 5 trillion in home loans -- US could only pay for it w new debt"
• "Mortgage bail out also added 800 billion to national debt limit TODAY"
• "Mortgage bill creates an open ended line of credit for Freddie/Fannie to withdraw as much taxpayer cash as they want w/o repaying us ever"

[Maylar]

This bailout was a terrible idea. It punishes those of us that did nothing wrong, and rewards bad behavior that at least "some" of us were brought up against. I firmly feel we should salute those that voted against this atrocity, democrat and republican alike.

[Fantasy Chaser]

Originally Posted by Maylar

This bailout was a terrible idea. It punishes those of us that did nothing wrong, and rewards bad behavior that at least "some" of us were brought up against. I firmly feel we should salute those that voted against this atrocity, democrat and republican alike.