Over at US News and World Report James Pethokoukis reports on a conversation he had with former Speaker Newt Gingrich who is a strident critic of the Henry Paulson plan to shove this country toward socialism by handing over a check for $700billion to the corrupt derelicts who created this mess. Here are Gingrich's 5 main points about this disaster of a plan....
1) He called it a "stupid plan" that looks like it had been designed by autocrat Vladimir Putin. He also said it will be a "nightmare" to implement and full of corruption.
2) He said the Paulson Plan would be a "dead loser" on Election Day that will "break against anyone who votes for it." It will hurt even worse with the 2010 election once Americans see what a drag it is on the economy when implemented.
3) He recently chatted with economic historian Alan Meltzer who advocated doing nothing rather than implanting the Paulson Plan. Meltzer apparently joked to Gingrich that this was about the third time he had seen Wall Street scream "the apocalypse was nigh" only to have the economy keep right on chugging along.
4) Gingrich thinks that if the Paulson Plan isn't passed by this weekend, it is dead and the White House better have a Plan B, economic-growth package ready. Right now, he still thinks it has an 80 percent chance of passage, partly because of Paulson's apocalyptic tone that if a bill isn't passed, "the whole world will end on Tuesday."
5) He advises McCain to play the maverick and come out against the Paulson Plan. Then it will be the Obama-Bush plan.
Gingrich is spot on with this. He sees how anti-free-market, anti-capitalist, anti-American, and corrupt this deal is going to be.
I got an e-mail from regular reader David today urging me and others to write our Congressmen and Senators demanding that they stop and consider what they are about to do.....and then vote against it. I would urge you to do the same.
ADDENDUM: It just occurred to me that many of you may not know by whom you are represented in Washington, so how can you write a letter if you don't have that info? First of all, shame on you for not knowing your representatives' names. It's telling how many Americans can name the judges and contestants on American Idol but haven't a clue who speaks for them in DC. But then what would you expect from a generation of people educated in dreadful government schools, the sole purpose of which is to make sure you graduate as dumb as possible and therefore easily led around by the nose by corrupt, self-serving politicians.
So, if you get half as mad at your representatives about the Paulson plan as I hope you are at me right about now, you'll be interested in writing a letter to your congressmen and senators. You can go to this web site and get their names and mailing addresses.