Spending more than what is in your checking account will cause a bounced check, it is just that simple. The FDIC is about to bounce the checkbook of the banks shortly. This is why the Senate wants to give the FDIC a $500 billion loan, on a short term basis. Well, not everyone wants this to happen.
House Minority Leader stood up today and said enough is enough. Boehner (R-OH) said that both parties need to stop spending money blindly and formulate a real plan without pork and earmarks. While the dyke might be cracking, it will last a few more weeks without injecting any more capital into it until a true solution is found. Because right now, sticking trillions of tax payer “finger’s” in the cracks is not doing a whole lot of good.
Why can’t the House, Senate and Executive sit down with economists and CEOs to figure this out. While it is important to gather the knowledge of the Ivy Towers, the men and women running the worlds largest businesses need to be the most represented. They are the individuals that understand how business works and fails, not Nancy Pelosi. It is just a thought.
If you are not outraged, wait until the well is dry…