Senate Votes Away Your Money!

Yesterday, I urged you to Watch The Video! Sign The Petition! Urge Congress not to bail out the housing industry that would obligate we taxpayers to a new $5 Trillion of debt. The NY Times just reported that we failed!

The U.S. Senate has passed the bill by a vote of 72 to 13 that grants “the Treasury Department broad authority to safeguard the nation’s two mortgage finance giants, Fannie Mae and Freddie Mac, potentially by spending tens of billions in federal money to prevent the collapse of the companies, which own or guarantee nearly half of the nation’s $12 trillion in mortgages.”

The bill raises the national debt ceiling to $10.6 trillion, an increase of $800 billion!

“We are in the midst of the most serious economic crisis to face our nation in many years,” said Senator Christopher J. Dodd, Democrat of Connecticut who just a week ago said both companies were not insolvent.

Representative Jeff Flake, Republican of Arizona, said during debate in the House on Wednesday. “We are pretending to chain a monster here and we are, instead, letting that monster loose.”

Once again I ask, who gave these guys the authority to spend any amount of money to bail out this fiasco?

5 Responses to “Senate Votes Away Your Money!”

  1. There was a speech given by Davy Crockett regarding the spending of public monies which should be required reading for all citizens; but more so for those elected to public office. I’ll look it up in my files and send you a copy.

    There must be a firm line drawn between wanting to help those in need by way of voluntary individual contributions and the use of public tax money from the government. Those who cannot see this difference have violated the public trust and the constitution.

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