9 Outrageous Things To Know About the Bailout

We all realize that something needs to be done to help our economy, but I’m still not comfortable with what has been done. When the bill was first drafted, it was a wide open door for one man, Henry Paulson, to have unlimited power and control of all the bailout money. Limits have been added since then, but check the things out below that still remain in the bill.

As a reminder of how your government operates, the Senate cannot originate a spending Bill. Article 1, Section Seven of the Constitution says, “All bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills.” So what the Senate did was pass amendments to the H.R. Bill 1424 that was passed by the House of Representatives. The bill starts out with an amendment to the Employee Retirement Income Security Act of 1974.

When I heard that the bill is 451 pages long, I wondered how they had time to read it since they have been in meetings most of the time. Actually the bailout part is from page 2 to 113, so it is only 111 pages. That is still a lot to read.

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