Sunday, January 25, 2009

Financial Oversight?

I saw a headline online that said Obama was going to have more financial oversight. That is all well and good, and is probably needed, but the issue no one (in Congress) seems to want to address is who is going to have financial oversight over Congress?

I don't care which party is in power, there is no such thing as self-control. All these irresponsible bailouts Bush did and Obama will expand look like a recipe for disaster. Everyone that looks at them lately has said they won't create a single job and the money won't be spent until 2010, which is after the recession is projected to end anyway. (Conveniently, that is the year Congress will be looking to buy their reelection.)

The simple answer is to NOT spend the bailout money. Other than the Jeb Hersarlings and Jeff Flakes (and a short list of others), no one is fighting this power grab by Congress. (If Obama would fight it, that would be change I could believe in.) There is no way this will not cause massive inflation once this new money spreads around the economy.

No comments: