Post a Comment On: Quinthar

Isn't it really surprising how much people hate this $700B bailout bill?  

I read a report there was near unanimous opposition among constituents -- so much opposition that websites were crashing under the volume.  I thought this was probably bull, but when I went to call Barbara Boxer I found her voicemail full.  On her website there's a special note that the contact form might not work due to high volume.  Her alternate number is full.  Diane Feinstein's number is busy.

(Here's a helpful page showing California Senator contact info.)

Is this level of true grassroots opposition unprecedented, especially given that both Republican and Democratic Party leaders support it unequivocally?

Personally, I agree with the masses.  America is going bankrupt and I'm much more concerned about another $700B of debt -- especially when I have zero confidence it will actually accomplish its intent of rescuing the economy -- than waiting to see what happens and letting the market sort itself out.  And now that they're trying to sweeten the deal by trowing in tax cuts?  Have we completely lost our minds when it comes to fiscal responsibility?

Furthermore, the defense is just absurd.  Granting that there are probably really good arguments for it, given that this whole episode was triggered by irresponsible lending, can't we find some other defense than "this is needed to let people borrow money to buy homes"?

Regardless, it sounds like the masses' opposition might have tapered off given the stock market crash, so who knows.  Maybe we'll get bailed out, whether we like it or not.

-david