The public comment period for this legislation has ended.

Treasury's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets

5 section comments

Title I - Authorizing the Treasury Department to Buy Mortgage-Related Assets

Sec. 10. Increase in Statutory Limit on the Public Debt.


Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.


General Comments on Treasury's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets

Eric L on September 22, 2008

11 trillion dollars!

anyone care to guess what the total national debt was prior to the arrival of Bush Junior?

85% of the total national debt was created in our entire nations history by just 3 presidents care to guess which 3?

Reagan, Bush Sr., and Bush Jr.

way to go guys, you republicians must be so proud.

Eric in Austin

Jon Wiley on September 22, 2008

Might it also be possible to cut spending? If this crisis is so dire and the bailout so necessary, why not cut $700 billion in spending? If we suffer an emergency, we should prioritize accordingly.

Ravenly FedupUSA.org on September 23, 2008

I'm with you Viva La Revolution - it is absolutely time we all pull together and ACT!!! via a revolution to stop this absolute madness. It is absolutely disgusting that Henry Paulson is actually trying to use FEAR and INTIMIDATION to get this for-the-rich-only bailout passed.

I find it particularly disgusting that Henry Paulson used to be a CEO for Goldman Sachs - and now claims he didn't see this coming. DESPITE the fact that there were many, many, MANY people who did and were warning about this 1.5 years ago!! They were considered Chicken Littles and given many condensending reassurances that the powers that be knew full well what the risks were and those risks were MINIMAL. Anyone remember "Subprime is contained"?????

Doesn't anyone wonder why Henry Paulson wants these CEO's to keep their millions of $$ in compensation? Or why he doesn't want the Gov't to get a stake in the equity of these firms? THAT IS NOT PROTECTING THE TAXPAYERS INTEREST - In fact, it is explicitly ripping our very few, hard-earned dollars and dumping it right back into their pocket.

Please, we need to stand up and ACT and create a revolution and get our country back!!!!!!!!!

brass monkey on September 27, 2008

Well lets see they need $700 billion this week, and of course that is a revolving line of credit That could easily grow to 1 trillion. FDIC is about to need $ 150 billion or so, and lets not forget that Congress has just hitched Americans to about a $ 1 trillion military budget to make the Bush cabal & Israel happy....are you guys on a binge with our money or what?

This means that Paulson can buy garbage at book value when he knows good and well that it is maybe worth .10 cents on the dollar, now thats with your money folks. Then he can turn around and sell it to whoever he wants for ...you guessed it .10 cents on the dollar. Can anyone see a picture developing here? Taxpayer gets screwed, bank get paid full value...something wrong here...why is the taxpayer loosing & the bank walking away complete.

Any elected official that votes for this bill should be tried for treason.

November is very close, vote them all out of office for even considering such a stupid proposal !!