National Debt Increased by $800 billion?

Question

A new bill has passed the house of representatives that will bail out the housing market by giving Fannie Mae and Freddie Mac UNLIMITED credit, along with increasing the national debt by $800 billion. The bill is H.R. 3221 and can be viewed here http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.3221:

Ron Paul talks about it here http://www.house.gov/paul/index.shtml

Answer 1

You know what I say... Fu*k that!

Answer 2

They already had unlimited credit from the Treasury years ago...that's what got them into a 5.3 trillion dollar debt.  Ugh...I thought it was gonna be just 25billlion USD over 2 years for Fannie and Freddie.  Now it's 800 billion?  That's too much...they need to let the market take care of them and put that money either, away or put it where it can ACTUALLY imporve the housing market.  As opposed to giving it back to their idiot friends over at the mortgage bank.  They clearly have no idea what they are doing.

Answer 3

Its a crime, but this is all by design. Deregulation leads to corruption, and the govt has to bail out the victims. Meanwhile the perpetrators of the crime walk away.

Republicans= Privatize proftis, socialize losses

Answer 4

Congress and the President want to balance the budget. They really do.  But it is so hard to resist the "good feeling" that comes with spending the money for "good causes".  Bailing out the housing industry seems like a good cause.  Then we have to pay for the help ; but that comes far into the future.