This administration has doubled the accumulated debt of 230 years in less than 8 years. This from beginning with a budget surplus. This feature also occurred with Reagan administration which saw the US go from the world’s largest creditor nation to the world’s largest debtor nation within the first half of its 8 year administration, IIRC. Debt always facilitates transfer of wealth with Chicago School of Economics ideology. This should be something to have a true fear of, for real.

Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.

That has just doubled the national debt well within the lifetime of one administration. National debt 09/30/2000 5,674,178,209,886.86 (In the first 9 months of this administration). Have you any doubts the new limit will not be reached by the termination of the administration

National Debt: http://www.treasurydirect.gov/…..histo5.htm

Anything else simply rewards stupidity, incompetence, and unbridled greed. I urge you in the strongest possible terms to reject this and any other proposal which does not meet these standards.

Outstanding letter Dr. Dick (from one Dr to another)

/grammar police

;~P

hugh @ 84 – so, if a $150-200 billion dollar market goes down by 25-50% and is leveraged at 15-20 to one, does that mean there is another trillion in losses? sorry to be asking such basic questions, but that just seems like of money have i have no intuition on this to act as a guide.

It would be too easy for him to lay low and coast into winning the presidency. There are probably many “advisers” whispering in his ear that he should do just that.

all the economy needs is a little tweak here, a little nudge there. that’s all.

i was just wondering how much could be lost by speculators on the down side of the commodities bubble. if profits were leveraged, then won’t losses be also?

Commodities markets are leveraged at between 15 and 20 to one.

the dems in congress need cover to act against the current administration. obama can give it to them.

The next few days will show us what Obama is made of. It would be too easy for him to lay low and coast into winning the presidency. There are probably many “advisers” whispering in his ear that he should do just that. However, I think that he is smart enough to know that if he does that and the bailout as structured now passes, his presidency will be hamstrung before he even takes office.

Ironically, McCain is running on “Country First”, but Obama needs to put country first in a very real way and come out with a concrete, fair plan that both addresses the crisis on Wall Street and provides consequences to those who have caused it. He has the opportunity to literally save our country even before he takes office. Will he have the courage? Will he tell those whispering in his ear to STFU so that he can get us out of this?

The person that should be opposing this Republican bailout is Obama. He needs to come out forcefully against this pig.

the dems in congress need cover to act against the current administration. obama can give it to them.