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11/17/2008 07:58 PM ID: 74912 Permalink   

How Much Bailout Money has been Spent? Congress Doesn’t Know Either…

 

Oklahoma Republican Senator Jim Inhofe told Tulsa World, “It is just outrageous that the American people don't know that Congress doesn't know how much money he (Treasury Secretary Henry Paulson) has given away to anyone.”

Inhofe said that Congress was lied to about the bailout package and added Congress should seize the remaining funds. Inhofe wants to freeze what is left of the first half of the bailout ($350 billion). It is estimated there is $60B left but he is unsure.

Inhofe submitted his ideas in a letter to other members in the Senate. In the letter, he wrote: “Congress abdicated its constitutional responsibility by signing a truly blank check over to the Treasury Secretary.”

 
  Source: www.tulsaworld.com  
    WebReporter: slavefortheman Show Calling Card      
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  3 Comments
  
  Thank God  
 
someone is trying to regulate congress for once. How does something like 350 billion dollars go unchecked?

Well guess its hard to care about everyone elses money when you already have so much for yourself.

Elitest b*st@rds.
 
  by: m.i.a.elite     11/17/2008 08:55 PM     
  So let me get this straight...  
 
Congress built in a provision to the money that would allow them to freeze the funds if they felt they were not being used according to plan, but that ability is veto-able by the President?

Doesn't this effectively mean that Paulson can just keep doing whatever the hell he wants and if there's not a complete uprising (i.e. veto-proof majority in Congress) that nothing can be done to stop the $700B from being frittered away?

Wow.
 
  by: StringBlade   11/17/2008 09:14 PM     
  CNBC has been watching...  
 
and they have tallied all the spending and the promised spending and it is very ugly. $4.28 trillion. Here's the details.

http://www.cnbc.com/...


I screamed bloody murder when this SHIT was proposed and everyone thought I was full of it. BS, the hole just gets deeper. At least I know when someone is trying to F me I have the guts to scream rape.
 
  by: valkyrie123     11/17/2008 09:20 PM     
 
 
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