Proof that Washington politicians do not know what they are doing

[celticlord]

Fan and Fred's Lunch Tab

It seems a lifetime ago, but it's only been six months since the Congressional Budget Office put a $25 billion price tag on the legislation to bail out Fannie Mae and Freddie Mac. At the time, then CBO Director Peter Orszag told Congress that there was a "probably better than 50%" chance that the government would never have to spend a dime to shore up the two government-sponsored mortgage giants.

Six months and a quarter of a trillion dollars later, Peter Orszag has been elevated to head the Office of Management and Budget. Rewarding failure appears to be the one constant for all Democrats.

 

[RightinNYC]

Fan and Fred's Lunch Tab



Six months and a quarter of a trillion dollars later, Peter Orszag has been elevated to head the Office of Management and Budget. Rewarding failure appears to be the one constant for all Democrats.

I can't fault Orszag for that, as he's an absolutely brilliant dude. Nobody can always be right when predicting things in this economy.

 

[celticlord]

I can't fault Orszag for that, as he's an absolutely brilliant dude. Nobody can always be right when predicting things in this economy.

There's wrong, there's dead wrong, and then there's totally clueless. On Fannie Mae and Freddie Mac Orszag falls into the latter category.

 

[RightinNYC]

There's wrong, there's dead wrong, and then there's totally clueless. On Fannie Mae and Freddie Mac Orszag falls into the latter category.

And you're basing this conclusion on....?

 

[celticlord]

And you're basing this conclusion on....?

Lessee....telling Congress that the odds were better than 50-50 that the initial projected $25 Billion price tag of the Fannie/Freddie bailout would be avoided, when the reality is an actual spending of TEN TIMES that amount. That qualifies as "clueless" by even the kindest of standards.