The UK, like the US, is attempting to spend an unprecedented amount of money to recover from the Great Recession. This morning, the UK finance minister informed British citizens that taxes will be raised on a host of items in order to fund the government’s titanic deficit spending. (more…)
A number of well-informed readers have raised the valid concern that Congress is not reading legislative bills before casting a vote. Here are just a few examples:
The Patriot Act was over 300 pages long, yet not one single member of Congress even read it. The bill wasn’t even available to Congress until 15 minutes before the actual vote.
TARP, or the $700 billion bank bailout, grew to over 450 pages, after the initial Treasury draft was only about 3 pages.
The $787 billion stimulus package reached 1,100 pages and Congress had less than a day to review it before voting.
