“Power Line: What caused the crisis on Wall Street?”

While many Americans watched the presidential debate tonight no one is addressing one minor detail. Where do we plan to find $700 billion, or whatever the final sum will be, to bail out our immediate financial crisis?
As you ponder that question let me offer the following easy to follow, 10 minute video with graphs and text that asks the question.

“What caused the Crisis on Wall Street?”
http://www.powerlineblog.com/archives2/2008/09/021622.php

PS: I’m sorry but it is worth recognizing that while Senator Obama speaks of all the necessary federal programs he wants to institute if elected,  Senator McCain responded that they will cost hundreds of billions of dollars. “In fact the change Barack proposes amounts to approximately $1 Trillion in additional spending over the next 4 years.”  The Senator failed to address the simple question by moderator Jim Lehrer of providing specifics of what program(s) he will cut to generate the money required for the pending bailout. In fact, while we are dealing with tough economic times Senator Obama repeated his “wish list” of entitlements later in the debate.


And yes, Senator McCain also dodged the same question by saying that with a few exceptions we need to reduce government programs. As they say, show me the money.
Larry, these are politicians seeking the big brass ring. Every program they offer to cut will result in lost votes from those impacted. 
Juice readers. I still think the question was a valid reality check.


About Larry Gilbert