| Involved extra $100bn of irrelevant sweetners OpposingArgument1 #7073 $100bn in irrelevant "sweeteners" were added to the legislation in order to secure support from lawmakers. |
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+Citations (1)
- CitationsAdd new citationList by: CiterankMapLink[1]
Author: David Walker
Cited by: David Price 4:48 PM 8 October 2008 GMT
Citerank: (1) 7074Insufficient information available to make sound policy decisionNeither lawmakers nor ordinary citizens had enough information to properly assess the real risks, the need for action and what an appropriate course of action might be.13EF597B
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| Excerpt / Summary "The rescue package and other bailout efforts for Fannie Mae, Freddie Mac, AIG and the auto industry, escalating operating deficits, compounding interest and other factors are likely to boost the tab to $56 trillion or more by the end of this calendar year.
With numbers and trends like this, you might ask, "Who will bail out America?" The answer is, no one but us!
Since we're going to have to save ourselves, recent events could hardly be called encouraging. It took an additional $100 billion in incentives -- some would call them "sweeteners;" others might call them bribes -- to get lawmakers to pass the rescue package. Regardless of what you call these incentives, ultimately the taxpayers will have to pick up the tab, with interest." |