Wednesday, January 07, 2009

Dem Barney Frank Rages

at 'Distortions' of Chris Cuomo on ABC

by Scott Whitlock - January 6th, 2009 - NewsBusters

"Good Morning America" news anchor Chris Cuomo on Tuesday actually challenged liberal House member Barney Frank over how Congress has spent the [first] bailout money. At one point, after the host implored Frank to think of the American taxpayers, the irritated congressman commanded, "I'm sorry, sir, but- I'm sorry, if you keep interrupting we cannot have a coherent conversation." Frank would later rage over Cuomo's "distortions."

This is the problem. Anyone who has even a basic understanding of economics has to realize that the days of China buying a trillion dollars in American bonds in a 15 month period are over. The nearly trillion dollar bailout passed by our socialist President, George W. Bush, and the socialist Democrat congress ... has already stretched the deficit beyond any probable ability to fund it from foreign sources. To be proposing another trillion dollars in a second bailout is beyond stupid. It will finally crack the resistance to inflation and fuel a repeat of the Carter years.

Both conservatives and reasonable liberals recognize what a disaster this will be. Obviously Barney Frank does not want that pointed out and blamed on him, just as he never accepted responsibility for his accountability in the Fannie Mae and Freddie Mac collapse.


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