So apparently, we just haven’t spent enough imaginary money yet, and Paulson needs us to spot him another $800 billion. What are these people doing? Are the Dems so power-drunk that they have completely lost control? Check this out, from the Times:
The Federal Reserve and the Treasury announced $800 billion in new lending programs on Tuesday, sending a message that they will print as much money as needed to revive the crippled banking system.
All told, the government has assumed at least $7 trillion in direct and indirect financial obligations in the form of Wall Street bailouts, emergency lending and government guarantees on bank deposits, inter-bank loans and home mortgages.
$7 trillion. I can’t even process that. Where do I send my student loans? You know, things just are tight right now, and I can’t really afford it… it would really just free up my cash flow… Vote on it. Throw in some earmarks. Certainly my 5 digit college debt would pass…
I’m going to go kick something.
