Obama signed the bailout bill into law today. The markets reacted badly taking a tumble across the board (more at http://www.iht.com/articles/2009/02/17/business/18marketsA.php). There is already some rumblings about a second stimulus (More at http://www.pottsmerc.com/articles/2009/02/17/news/doc499b1285a1910545536246.txt). How much money are we going to throw at this? If we keep heading down this road the United States could lose its AAA credit rating. If that happens; well, lets just hope that does not happen. When you consider that the federal obligations now exceed GDP of the world, it could be time to worry (More at http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88851).
http://www.recovery.gov has gone live if you are interested in seeing the Official Governments info page on the bailout.
The one thing that still gets me is that if this bill was so important and had to be passed so quickly that no one including our representatives had a chance to read it, why did Obama wait a few days until today to sign it?
Videos embedded below.
Tuesday, February 17, 2009
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