As I write this President Bush is meeting with John McCain, Barack Obama and other congressional leaders trying to work out a deal for the economic bailout recommended by Treasury Secretary Henry Paulson.
This whole thing has left many of us feeling unsettled. What a risk with taxpayer dollars! What is Congress going to do? Are they going to tack on economic stimulus packages or more homeowner bailouts? I certainly hope not.
Will we, the taxpayers, ever see a return on our $700 billion investment? Will our children be saddled with this debt? Right now the answer to those questions is unknown.
According to Andy Kessler writing in The Wall Street Journal, Paulson’s plan may actually make money for taxpayers.
My analysis suggests that Treasury Secretary Henry Paulson (a former investment banker, no less, not a trader) may pull off the mother of all trades, which could net a trillion dollars and maybe as much as $2.2 trillion — yes, with a “t” — for the United States Treasury.
I’d recommend reading the whole article, it just may make you feel better. If his predictions are true, it’s even more important to send fiscal conservatives to Washington.
