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"Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!" - Patrick Henry

President Barr Would Veto This

The bailout of Fannie Mae and Freddie Mac appears set to happen. What does it mean to every taxpayer in the US and their share of the national debt? About another $1,300.
The bill passed the House of Representatives and will be taken up in the Senate and once through that pork factory, President Bush has said he will sign it. If I were your President I would veto it so fast, heads would spin.

The bill - and that’s exactly what it is - is a bill you are going to be expected to pay! It’s for an estimated $400,000,000. That is, of course, $400 Million that we don’t have, so more borrowing is ahead. Your share of this expense? About $1,300.

And that’s on top of the more than $31,000 you already owe!

McCain and Obama have tip-toed around this. Barr is plain: No bailout for failed lenders!

Link to full Barr statement.

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posted by Mike Kole @ 9:32 AM, , links to this post