George Bush wants taxpayers to give him a $700 billion blank check - $2,333 for every many, woman, and child - to bail out Wall Street for its reckless investments in mortgage-backed securities. That's on top of $800 billion for other recent bailouts, including A.I.G., Fannie Mae, Freddie Mac, and Bear Stearns.
The current financial disaster is the direct result of the Bush-Cheney Administration's 8-year policy of deregulation, corruption, and greed, which took the Reagan-Gingrich-Gramm policies to new lows. The Bush-Cheney Administration absolutely cannot be trusted to solve the massive problems they created.
President Clinton inherited huge deficits from George H.W. Bush but balanced the budget and even created surpluses. When George Bush stole the White House in 2001, the projected 10-year surplus was $5 trillion. But Bush immediately gave $2 trillion in tax cuts to the wealthiest Americans, then wasted $1-3 trillion invading Iraq on the basis of lies. Now Bush wants to increase the national debt to $11 trillion.
The $700 billion plan has no transparency or accountability. Worse, the plan does nothing to fix the underlying problem of foreclosures resulting from unaffordable mortgages that were sold through mortgage broker fraud while the Bush Administration turned a blind eye.
John McCain demanded the firing or resignation of SEC Chairman Christopher Cox. But who appointed Cox? George Bush!
Before Congress gives the Bush Administration one dime of taxpayer money for financial bailouts, Congress must demand the immediate resignation of George Bush, Dick Cheney, and Henry Paulson and the appointment of Speaker Nancy Pelosi as President until our next President is sworn in on January 20, 2009.
The question is: "Bush and Cheney Must Resign?".