3 TRILLION DOLLARS AND COUNTING

First, it was the bailout of large banking and mortgage firms on Wall Street in order to 'stabilize the economy.' Then, it was the government forcing large banking firms to accept the Federal Government as part owner of those firms.

Then, it was the bailout of the 'average homeowners on Main Street who are about to default on their mortgages.'

But even that wasn't enough.

Next, the government was informed that the auto industry needed tax dollars just like the banking and mortgage firms. Commissar Nancy Pelosi is all for it as is 'The Chairman.'

And then yesterday we learned that American Express has been thrown a tax-dollar lifeline. This required that the definition of the type of business American Express does had to be changed.

So, with a wave of the magic wand, the Federal Government now considers American Express to be a 'bank holding company' that is eligible for millions of dollars of bailout money from the taxpayers.

And let's not forget that Hollywood, insurance companies, and even China, all have their stake in the loot.

But guess who's making noises about wanting some of the taypayer-provided loot now? Big liberal newspapers that are on the brink of bankruptcy due to plummeting subscriptions.

Look for the New York Times and others to go begging the government for a handout.

The total cost of all of this to the taxpayers? 3 TRILLION DOLLARS and counting.

Stocks Fall 700 Points, Pelosi Calls Recess

As stocks fell by over 700 points as a result of the failure of Nancy Pelosi's House to approve a fix to the nation's banking and mortgage crisis on Wall Street, the Speaker placed the U.S. House of Representatives on recess until Thursday.

It is unclear at this point as to whether the purpose of the recess was to allow the vermin to crawl back into their holes to lick their wounds or for them to regroup.

Pelosi had already referred to House Republicans who balked at the Democrat-Bush plan for a massive bailout of Wall Street as 'unpatriotic.'

I suppose she thinks the overwhelming majority of the electorate who oppose the plan is also 'unpatriotic.' This comes from the San Francisco liberal who embraces such 'patriotic' nutcases as Code Pink.

Pelsoi, Reid, and the Democrats in both chambers of Congress are on precarious ground as they have placed their reputations on the line with an enraged electorate that believes the dirty scoundrels in Congress are just as much to blame for the Wall Street fiasco as the CEOs of the companies in trouble.

House Republicans, who vehemently objected to the bailout measure, received enough concessions to cause many to vote for the amended plan, but it was not enough to gain approval of that plan. Many within the GOP are still outraged that 250 billion of taxpayers' money was still going to be given upfront to Wall Street firms.

The GOP held out for an insurance program and loans rather than an outright bailout. But Democrats would not agree to such a plan.

The Senate takes up the debate on Wednesday of this week, one day prior to the end of the House recess. Perhaps during the Senate debate we will see just how much the politicians have been listening to the voters.

If Congress would but cut back the capital gains tax, allowing for an immediate flow of cash into banking systems, and approve loans and insurance for ailing companies--programs that the companies would have to pay to be part of, and of course loans that the companies would have to repay--then not a single dollar of taxpayers' money would be risked for the fix.

This, I believe, is a plan that would work and that the American people would support.