Tuesday, September 23, 2008

Henry Paulson Takes Over the Economy


Back in 1993, I remember that one of the big initiatives of Bill and Hillary was to take over one seventh of the US economy through their health care plan. The plan was successfully defeated and helped to usher in the Republican majority back in 1994. How could we allow the government to take over such a large part of the economy.

Fast forward 14 years and now we have this supposed free market President. What does George Bush do in his last year, he manages to topple capitalism itself and add $6,000 of debt to every tax payer in the country. And he does it without people realizing he is the one that is doing it. His front man, Treasury Secretary Henry Paulson, is asking for a 700 billion dollar blank check. For some reason, in this economic disaster, Congress is willing to allow such a thing, the same Congress that will debate for hours over $200,000.

This is big and it is unprecedented. Paulson is part of the executive branch. He was appointed by Bush and confirmed by the Senate. He can also be removed by the President. Why are people so complacent with this guy derailing the market. What on earth has happened to sense, and what has happened to responsibility. I can't believe that our whole economic system is going away with a whimper and not a fight. Oh, and to add insult to injury, the Chinese are now citing the US economic collapse as proof that theirs is the system to emulate.

3 comments:

Kansas Bob said...

Pretty scary stuff Scott.. maybe we conservatives should have elected McCain back in 2000 before he became a Bush clone :(

jrchaard said...

Hard to say. Bush doesn't get all the blame for starting this ball rolling, but regardless of what happened in the past, it will be his administration that will be judged on the response, which I have not liked.

jrchaard said...

Hard to say. Bush doesn't get all the blame for starting this ball rolling, but regardless of what happened in the past, it will be his administration that will be judged on the response, which I have not liked.