The bankrupting of the nation for political gain

World Tribune —

A lot will be said and written about the presidential election, but one central fact remains: John McCain was ahead in the polls until the financial crisis emerged and President Bush was pushed by Treasury Secretary Paulson into seeking a $700-billion Wall Street bailout on Sept. 18. The crisis benefited Obama, even though he voted for the bailout, because he was not a Republican, like McCain or Bush. Republicans were blamed because a Republican was in the White House.

The exit polls on Nov. 4 still found the public opposed to the bailout by a 56-39 percent margin.

The panic around mid-September infected the Mainstream Media and even the conservative media, especially Fox News, which became a soapbox for the bailout that now exceeds $1.8 trillion. But rather than bail out or “rescue” anything, the hastily-passed measure, ironically named the “Emergency Economic Stabilization Act of 2008,” started a process that now threatens national bankruptcy.

Because Wall Street has gotten its bailout, the Democrats figure that they can now spend even more, supposedly to benefit Main Street. Which means spending and debt will get even more out of control and more socialist measures, this time under President Obama, will be taken.

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