The one thing I’ve observed to be true about the Bush Administration ,is that: where large sums of money are involved , few things are are a matter happenstance, and when they say it must be done in a hurry – it’s others who are being rushed – the Bushies already have the situation gamed to meet their objectives .
If the Paulson proposal goes through as currently envisioned , you can probably kiss Health Care Reform and any significant educational spending “bye bye” . And the financial petard that Paulson’s plan would embed in the Nation’s financial future, will hobble the next President’s agenda by weighing it down with a mess created by the Bush agenda .
After all, putting bad mortgages on the plate of the next President may mean that Administration inherits the pleasure of administering foreclosure proceedings, evictions and etc . That’s a sure recipe for a one term political failure, to say the least.
The Title of Forecloser and Chief to accompany Commander and Chief is lose lose . That means the Government will have to farm the problem back to the private sector – win win for some lucky private sector interest; narrowly tailored RFP’s are at the ready- no doubt. The pigs at this trough will wear lipstick bought by or better said, stolen from taxpayers.
Finally, should the petard’s blast (the still unknown final cost of this bailout) be large enough – the GOP’s decades old dream of gutting Social Security may even lose its “third rail” protective shield.
GF
