Blog Buzz: New $800 Billion Bailout to Help Consumers, Barack Obama's Administration Praised, Freedom's Watch May Go Out of Business
Our daily look at stories and topics that are lighting up the Internets:
Bailouts for Everyone!
The Federal Reserve announced today a new $800 billion spending program aimed at unfreezing credit for home buyers, consumers, and small businesses that has bloggers asking, "What the hell?" and criticizing the "borrow-spend-panic" binge that the government is on. At the Atlantic, Andrew Sullivan wonders if we don't deserve to "feel the full impact of the massive fiscal recklessness of the past decade," and Megan McCardle explains why Henry Paulson "can't get it right." A TPM blogger discusses the need for more oversight of the Federal Reserve lending, and National Review Online puts the bailout in historical perspective. (It's not pretty.)
The Obama Administration Lovefest
Liberal bloggers praise the newly announced members of Obama's budget team, including Peter Orszag, as "pretty impressive folks." They're also fans of the candidates for his healthcare policy team, those chosen for his economic team, and Rahm Emanuel (who is apparently liked even by Republicans). As far as the State Department goes, however, Arianna Huffington warns that Hillary Clinton has turned Obama into "Mo' Drama Obama." And Ezra Klein reminds everyone that at the start, the Bush administration looked promising, too.
Conservative Activist Group Is Probably a Goner
More bad news for the GOP: Freedom's Watch, a far-right advocacy group, appears to be kaput. A liberal blogger says it has to be "one of the more humiliating fiascos in recent history for the conservative movement." The GOP is also struggling in terms of its online presence, and Political Animal explains why conservative bloggers don't measure up to the "netroots." In other GOP news, the fight for Republican National Committee chairman continues.
Reader Comments
Stop messing around
Why don't they just pass a 10 trillion dollar package and buy up all the companies they can. Then everyone will be governemt employees, good pay, health care, and retirement, all problems solved.
Who needs freedom and liberty????
National Debt
Pretty soon it will be the equivalent of one full year of GDP. The creditor nations will call in our bets. The selling of our country has begun by has been politicians who are addicted to power. When will it end. In 2 years you can VOTE OUT every incumbent standing for re-election. If you don't, you get what you deserve. You have sold out your children's and grandchildren's future.
Good Riddance Freedoms Watch
A bunch of neo-con hacks trying to sneak around behind the scenes and get Cheney's agenda through. Glad they are going away.
The political right does need to express itself, but not through types like this. The right needs to get back to American values like thrift, honesty, budget balancing, not favoring foreign adventurism, etc.
Their agenda has been far too far leaning right, and too narrowly defined. If you don't listen to Pat Robertson, don't give a blank check to AIPAC, don't want to bomb every muslim off the planet, and don't support rampant military spending that bankrupts the country, you are not on their team and are un-American? Hogwash.
Bye bye.
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