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Bush confident bailout bill will stabilize economy

September 29th, 2008 . by TexasFred

Bush confident bailout bill will stabilize economy

WASHINGTON – Buffeted by unusually aggressive pressure from the White House, House members debated hotly-contested Wall Street bailout legislation Monday as a key architect conceded its unpopularity.

“Many of us feel that the national interest requires us to do something which is, in many ways, unpopular,” said Rep. Barney Frank, the Financial Services Committee chairman. “It is hard to get political credit for avoiding something that has not yet happened.”

The House was moving toward an early afternoon vote on the much-maligned legislation, the product of marathon bargaining over the weekend among various House and Senate representatives.

President Bush once again urged the bill’s passage, saying in a White House appearance Monday morning that “every member of Congress and every American should keep in mind that a vote for this bill is a vote to prevent economic damage to you and your community.”

“With this strong and decisive legislation,” he said, “we will help restart the flow of credit so American families can meet their daily needs and American businesses can make purchases, ship goods and meet their payrolls.”

Full Story Here:
Bush confident bailout bill will stabilize economy

Here’s the part that causes me GREAT concern: Bush confident bailout bill will stabilize economy.

Any time Bush says that he is confident, I get ready to see massive fallout, simply because Bush and confidence are 2 words that just don’t go together for me, and here are a few reasons why: ABC News: Bush Optimistic About Stimulus Package , obviously that one didn’t work as planned, if it had, we wouldn’t be in this current financial mess, Bush Confident Surveillance Is Legal , Bush Confident Iraq Will Avoid Civil War , Bush Confident Republicans Will Retain White House , OK, so far, he has that one right, Bush Confident Despite Mounting Challenges , Bush confident of finding banned Iraqi weapons, I’m still waiting for that one, some *yellow cake* does NOT constitute WMDs as defined by Bush as justification for going into Iraq, Bush ‘confident’ US Congress will approve bailout, and that is yet to be seen too, they probably will, Congress loves to waste OUR money, Bush ‘confident’ of Mideast peace deal , and I have to ask, which Mideast peace deal? There have been several, and NONE of them amounted to a hill of beans. And the list goes on and on…

Here’s the bottom line, no matter how this turns out, it’s going to hurt the American taxpayer, and the root causes of the problems will remain in place, grinning from ear to ear as they bail out with their Golden Parachutes.

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