We have an election in just over a month and there appears a good chance that Obama will be President-elect. Paulson has already said that the plan is to spend maybe $50 billion a month and Schumer has suggested we start off with maybe $150 billion or so and see how things go.
How about we split the difference and give the Treasury $75 billion to start which will at least tide them over until the election is past. Surely $75 billion will keep them happy for a month or so. Once we have decided on the next President we should let the President-elect and his team figure out the next steps that are needed, if any. Even if the $75 billion is wasted or stolen or whatever it won't completely prevent the new administration from doing some much needed investment in America's future.
Asking for $700 billion with no oversight or recourse is just an attempt to hogtie the next administration and we shouldn't tolerate it or as we say down here in the South "That dog won't hunt." The new administration should have a big hand in deciding how this deal is settled.
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