Bush Prepares to Ask for Second Tranche of Bailout Funds
If Congress Fails to Approve Request, Administration May Use Veto Power
Washington Post Staff WritersFriday, January 9, 2009; 6:35 PM
In a move being coordinated with the Obama transition team, senior Bush administration officials are preparing to ask lawmakers for the second half of the $700 billion financial rescue package, despite intense opposition in Congress, sources familiar with the matter said.
The initiative, if it goes ahead, could create an unusual political straddle between the Bush and Obama administrations. If Congress were to vote down the measure, either President Bush or Obama might have to exercise a veto in order to get the money. While Obama officials prefer that current administration issue a veto, the White House is declining to address that question.
I am at a loss. I'm sure Obama would prefer that the current administration issue the veto. I'm sure Obama would prefer to not have his fingerprints on this flushing of national wealth down the drain. What I'm entirely at a loss over is that Bush is willing to veto congressional legislation that would block Obama's opportunity to spend $350B of taxpayer money - so Obama doesn't have to. In so doing, he will be stabbing his party in the back without doing one bit of good for anyone but Obama. The inauguration is less than 2 weeks away. Moving next week will have no effect on expediting the flow of money into the black hole over $200B has already disappeared into. Bush will get no credit. He pulls the rug out from any Conservative Republican attempt to affect Obama's projected $1T 'stimulus package' plan. And he saves Obama from having to spend any political capital or suffer any criticism. It's like he's throwing his squad mate on a grenade to save an enemy combatant.
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