ddubb industries

Close Call on the $700billion Bill

September 29th, 2008 economic, political

I’m watching C-SPAN live. At 2pm today, they report the vote on H.R. 3997 is 205 yea (94 R, 141 D) to 228 nay (132 R, 66 D). Full results here. The Republicans have stopped Bush’s plan. I’m very happy to see some fiscal conservatives sticking to their principles. Could it have had something to do with the leadership of a true conservative in their ranks, Congressman Paul? I watched several of the speeches right before the vote from Pelosi to Frank, Democrats and Republicans, and was impressed by their lack of content and use of fear tactics. Watching C-SPAN for any amount of time reveals a lot about these folks. Most of the speakers I saw repeated the same sentiment: We know this is not the best idea, but to do nothing would be even worse.

The best quote I heard was from Congressman Flake of Arizona:

“Those who think they can force the market’s invisible hand run the risk of being slapped by it.”