Republicans Want Mortage Relief and Tax Cuts in Stimulus

It is great news that Republicans in Senate and Congress are getting together to demand the change they believe in for helping America pull out of this problem. Republicans want relief for housing market and tax cuts for the people and small businesses in order to stimulate the economy. Just bailing out big companies doesn't help. Back of America was bailed out the other day, and instead they sponsored a Super Bowl party for some reason.

They should be working hard to make sure these bailouts will actually be used for lending to businesses and to pull companies out of imminent destruction. These are not the greatest ideas though, when CEOs and companies know they are large enough to always be saved like the auto companies--they simply do whatever they can to make short-term quick money without thinking about the future.

This problem exists especially for GSEs (Government Secured Enterprises) like Fannie/Freddie who have the full backing of the government and so make risky investments and just don't care. After all they can resign with a nice retirement like Franklin Raines, CEO of Fannie Mae, and Obama's close adviser in Obama's "political circle" during the campaign of 2008.

Also, I'd like to point out an interesting fact. The Iraq war has cost the US approximately $600 billion dollars; however, the bailout cost during 2008 had exceeded $5 trillion dollars. Obama's bailout has cost $4 trillion dollars already. The bailouts cost more than almost every major political, economical, or military action by the United States government combined. It costs more than the New Deal, Vietnam war, Gulf Wars combined.

I thought Obama was criticizing Bush about "leaving debt to our grandchildren" which was a valid criticism but now sounds to me like the rhetoric of hypocrite.