This is not what America wants!
Sen. Schumer wants to double the bailout
http://thehill.com/leading-the-news/schumer-advocates-700-billion-p...
While appearing on This Week with George Stephanopoulos, Sen. Chuck Schumer (D-NY) discussed increasing the bailout between $500 and $700 billion.
From The Hill.com:
"We’re on the edge of deflation. Once you get into deflation, you almost never get out. That’s what the Great Depression taught us. That’s what Japan taught us,” Schumer said. “So a strong shot in the arm, just the way Barack Obama has conceived it, infrastructure, green jobs, is what is needed.”
So now, instead of a bailout that "helps" all Americans, Sen. Schumer has turned the bailout into a partisan political stance. However, don't think that it is just Democrats who are so free and easy with your money.
Sen. Richard Shelby (R-AL), who also appeared on This Week:
"Shelby indicated that he could support such a massive plan “if it would accelerate appreciation, things like that; tax incentives for people to hire, to retool and things like that,” as well as invest in education and infrastructure.
This is not a partisan issue. The bailout has not helped us - as is evidenced by the 1600 point loss in the stock market since Election Day. Standard investors have lost 1/3 of their portfolios, which can be translated to mean retirement funds. Sec. Paulson has said that TARP will not purchase toxic assets (bad mortgages) six weeks after begging Congress to give him $700 billion to purchase toxic assets. And let's not forget the $25 billion for Detroit - which Speaker Pelosi is rumored to want to raise it to $74 billion.
Contact your Representatives and Senators. Let them know what you think of the bailout. You can find your Reps. and Senators here.
While appearing on This Week with George Stephanopoulos, Sen. Chuck Schumer (D-NY) discussed increasing the bailout between $500 and $700 billion.
From The Hill.com:
"We’re on the edge of deflation. Once you get into deflation, you almost never get out. That’s what the Great Depression taught us. That’s what Japan taught us,” Schumer said. “So a strong shot in the arm, just the way Barack Obama has conceived it, infrastructure, green jobs, is what is needed.”
So now, instead of a bailout that "helps" all Americans, Sen. Schumer has turned the bailout into a partisan political stance. However, don't think that it is just Democrats who are so free and easy with your money.
Sen. Richard Shelby (R-AL), who also appeared on This Week:
"Shelby indicated that he could support such a massive plan “if it would accelerate appreciation, things like that; tax incentives for people to hire, to retool and things like that,” as well as invest in education and infrastructure.
This is not a partisan issue. The bailout has not helped us - as is evidenced by the 1600 point loss in the stock market since Election Day. Standard investors have lost 1/3 of their portfolios, which can be translated to mean retirement funds. Sec. Paulson has said that TARP will not purchase toxic assets (bad mortgages) six weeks after begging Congress to give him $700 billion to purchase toxic assets. And let's not forget the $25 billion for Detroit - which Speaker Pelosi is rumored to want to raise it to $74 billion.
Contact your Representatives and Senators. Let them know what you think of the bailout. You can find your Reps. and Senators here.
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