Dear Senator Obama:
In the debate the other night you spoke of your excellent "Google for Government" bill, which allows Americans to see what the government is spending, and on what.
The proposed bailout bill is betraying the spirit and letter of that bill.
Here's a chance to take a strong stand in favor of that disclosure, and to show your full-throated support for the free-market principles that so-called conservatives have given so much lip-service to.
More:
The bill has an egregious provision in this regard, as revealed in the CBO summary:
...the federal budget would not record the gross cash disbursements for purchases of troubled assets (or cash receipts for their eventual sale), but instead would reflect the estimated net cost to the government of such purchases (broadly speaking, the purchase cost minus the present value, adjusted for market risk, of any estimated future earnings from holding those assets and the proceeds from the eventual sale of them).
It is license for intentional obfuscation of the very worst sort, and an invitation to government and corporate lying, cheating, stealing, and collusion.
Make them give us the facts, please. They can give us a prettied-up interpreted version as well, but without the basic numbers we can draw no conclusions as to the veracity of that version.
Show the country what McCain hasn't: true leadership on a crucial aspect of this crucial legislation. It's something we really need, and it should get you a decent chunk of votes as well.
Steve
http://trueconservative.typepad.com