Tuesday, September 23, 2008

700 Billion and no oversight

President Bush is at it again. The 700 billion dollar bailout bill that is currently before Congress has this little clause:

“Section 8  Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.“ If you think I’m making this up, you can read it here in the Wall St. Journal blog. 

Yes, the Bush administration is asking Congress to give the Secretary of the Treasury the authority to spend $700 billion as he wishes, without any real oversight or accountability. With respect to Congress, the proposed legislation requires the Secretary to merely submit reports about his activities to Congress. This is like giving your n’er do well brother-in-law carte blanche to your retirement fund, and asking that he just let you know every now and then what he did with the money that you’ll never see again.  

We’ve already been told that this amount of money will likely cripple the American economy (this is on top of the approximately two trillion dollars the war will cost us), but the Administration is trying to, once again, remove Congress from having any say in how the money is spent. 

Contact Stabenow and Levin TODAY and ask them, once again, to stand up to the insanity and keep this bill from passing. 

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