William Gheen, President of ALIPAC has written a column on what this bailout means to our system of government and the American People. He has also done some comparison to help you understand what $1 trillion dollars amounts to. Gheen sees this bailout of US companies as an unprecedented attack on the sovereignty of our nation and says that it should require an actual amendment to the Constitution.
No Amnesty for Illegal Aliens or Wall Street Gangsters!
the Congress does not have the power to transfer this much power to the Executive Branch, without amending the Constitution. This bailout of Wall Street robber barons is a massive restructuring or our government and financial systems that should not be made without modifying the Constitution.
This move will change the entire power relationship between the Congress and the Executive Branch, as well as the power relationship between American citizens and our government. To give governmental powers and obligations to financial institutions over our populace is clearly outside of the realm of the Constitution.
Even more scary is parts of the bailout bill that state that there will be no oversight, no reprecussions if the money is wasted and squandered and that we are to just give over $1 trillion dollars of US taxpayer money to be handed out willy-nilly. Specifically is Section 8 wherein it states "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."
Basically what this states is that if the Secretary wanted to - and he could get his agency to initially agree, say with bribes of giving them each some of the dough - he could take the money and put it in his personal bank account. There's no way you can sue him or bring him to court and he could even tell those who agreed to screw off later and not give them their share, they couldn't sue him... It really is that powerful of a statement. non-reviewable and may not be reviewed by any court of law or any administrative agency.
The reality is that these people are untrustworthy and incompetent. I honestly believe that this is George Bush's last payout to all the business leaders who supported him throughout the years.
If you stand by apathetically and watch the Bush administration establish a new level of unprecedented power for the Executive Branch this week, while raiding you, your nation, and your grand children of Billions because of an announced crisis, then you are practicing the same sucker mentality that got us deeper into this mess.
... we have a President with approval ratings in the low 20 percentiles rushing out to ask a Congress with a 9% approval rating to give them unprecedented powers, amnesty from oversight and court prosecutions, and another 700 Billion dollars guaranteed by the taxpayers and the full force of the American government to extract that money and interest from us all.
Yes, you have no say once this passes, so you better speak out before it does if you're concerned.
Gheen also does a comparison of what programs in the past have cost us... this is just mind-boggling...
(Adjusted values into 2008 dollars)
Minimum 2008 Bailout: 1 Trillion Dollars
Vietnam War: $596,200,000,000.00 (596.2 Billion)
Korean War: $405,200,000,000.00 (405.2 Billion)
World War 1 (US Costs) 328,292,421,030 (328.3 Billion)
Space Shuttle Program: (162.6 Billion)
Apollo Space Program: 151,400,000,000.00 (151.4 Billion)
That's right... this bailout, which starts at $1 trillion - and includes doling out money to foreign banks as well - could pay for 6 space shuttle programs... that includes starting from scratch with the design work, all of the manufacturing, flight testing and running the missions as we have done for the past 28 years.
Vietnam and the Korean war combined don't even add up to $1 trillion... think of all of the expenses and years in those two conflicts... doesn't even reach the starting numbers.
How about the border fence? We could build 625 double layer border fences along the whole of the southern border... but then the open border lunatics would just reply "but they'd just bring 625, 30 foot ladders to climb them all"...
Really, you need to call and voice your opposition.