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Faced with an imminent financial meltdown and a looming depression, one might have expected Congress, inspired with a rush of patriotism, to have stepped vigorously to the plate to pass Paulson's rescue package without delay. Instead, Congress delayed, causing increased market panic before eventually doing the deed. But, in doing so, they had the nerve to demand their own 'commission' of over $100 billion dollars of 'pork barrel' add-ons, or over 15 percent of the total package. These extras will simply be added to the tab charged to the American taxpayer! So much for the end of ear-marks. The latest episode is simply the culmination of a generation of Congressional mismanagement. Over the past 30 years, Congress has inexorably steered the American economy away from production and savings toward reckless consumption and... [read full story]
