With a T

Paulson plan could cost $1 trillion

Congressional leaders said after meeting Thursday evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke that as much as $1 trillion could be needed to avoid an imminent meltdown of the U.S. financial system.
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Sen. Richard Shelby of Alabama, the ranking Republican on the Banking Committee, told “Good Morning America”: “I figure it will be at least half a trillion. But if you look at what the Fed has already done [by rescuing insurance giant AIG], and the extension of power to Treasury to deal with Fannie Mae and Freddie Mac, I believe we're talking about a trillion dollars.”
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Sen. Jim DeMint (R-S.C.), a member of the Joint Economic Committee, told the Los Angeles Times: “What is missing from it and from the recent string of bailouts is a commitment to return to a free enterprise economy. ... What we need now is not what could be nearly a trillion dollars in new taxpayer bailouts but pro-growth policies that allow our markets to correct and start growing again.”

Ahh, gotta get that last 'pro-growth' jab in there. It was the last republican attempt at pro-growth policies that has us plopping down big-T money to fix all that horrific growth. The growth that's based on shadows and shams and inevitably is followed by the massive, massive free falling terror and money hemorrhaging.

What isn't clear is if this is a new trillion, or a trillion when added together with the $600 plus billion that's already been flushed wisely given to Wall Street. I'm betting on a whole new trillion. I'm an optimist.

So if you had any hopes of Barack Obama winning the Presidency then ushering in some new age of public transportation, health care, and environmental policy; forget it. He won't have the money, it all got spent on worthless mortgages and corporate bailouts. We can always afford to unshit Wall Street's bed, but never can pony up the scratch to make sure people can get an operation without declaring for bankruptcy first. Around here is where you're supposed to start chanting "U.S.A. U.S.A.!"