Government Blows Off Oversight as it Blows Through $700B

In flagrant contempt of its lofty promises, the federal government has failed to provide formal oversight for President Bush XLIII’s unConstitutional bail-out.

The federal shysters wasted no time in committing $290 Billion of the $700 Billion allocated by Congress before Treasury Secretary Henry Paulson said yesterday, Well, oops, You know how we told you fools we were gonna spend it one way? Well, I changed my mind!

But they’ve moved much more slowly in imposing oversight. No formal action has occurred to fill independent oversight slots intended to prevent waste and corruption, and the deadline for submission of a required monitoring report has passed, with of course no report having been filed, according to this morning’s Washington Post.

This should surprise no one. Since the days of Alexander Hamilton, who became our nation’s first Treasury Secretary, federal power-mongers have offerred absurd guarantees that administrative restraints would protect the people from tyranny. It’s been more than 200 years. Isn’t it time we stopped falling for with this?

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2 thoughts on “Government Blows Off Oversight as it Blows Through $700B

  1. It is too bad that the conservatives in the House fell apart after the Senate caved to the proposition that WE MUST ACT NOW!!!

    I had hope that conservatism might just find its voice and take a stand. Unfortunately, McCain abandoned the House conservatives…(imagine how Nov. 4 might have been different if he had said “Mavericks do NOT support bailouts!”–Oh well…)

    Now we watch and wait as our money is spent in unConstitutional ways without supervision or oversight. I never thought I would see the day the US would completely abandon so many of our principles. Here is hoping for a backlash of epic proportions in 2009 (in VA and NJ) as well as in 2010 midterms and 2012…

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