“We just wanted to choose a really large number.” -- Treasury Department

[lostnfound]

This quote has been posted in at least a couple of threads, but it deserves a thread of its own because not enough people know about it. It is a clear sign, along with the less-than-three-page length of the Paulsen "plan", that this entire situation is a dangerous and risky game with no bottom and perhaps a very tenuous relationship with reality.

From Forbes:

Where did the $700 Million number come from?
“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”

Let the word get out: The Bush administration is playing a game of extortion and economic terrorism, for both profit and politics. The Democrats MUST NOT fall for this. Take your time, don't sell out your country's future, and don't cut the power of the Obama administration off at the knees before it even begins.

[chelsea0011]

1. Sounds like an answer in grade school.

[RUMMYisFROSTED]

2. Translation: We pulled the number out of our ass.

[Metta]

3. Another immoral act. Happy karma.

nt.

[Blue Diadem]

4. I'm quite sure the number actually came from the International Money Fund.

The International Money Fund gave the figure of $945 Billion in losses for banks worldwide over the next 2 years back in April at the meeting of the G7.

http://www.marketwatch.com/news/story/g7-government-officials-top-global/story.aspx?guid=%7B53CAC551-50CB-4BE1-BF28-E6FBAB675C2C%7D

This is the report containing reasons for the problems and list of recommendations

http://www.fsforum.org/publications/r_0804.pdf

[mmonk]

5. It doesn't mean they will get that number in the end.

By going piecemeal, Congress can stop when the ship is uprighted.

[phusion]

6. K&R - to the Greatest page!

thanks...

[formercia]

7. They also made sure that it was less than a Trillion Dollars.

The real figure may be several Trillion but most people just can't comprehend that kind of expense.

[Towlie]

8. They need to hurry in order to leap over the ten trillion mark before it gets here.

http://www.brillig.com/debt_clock/

(Note: This number increases every time you reload it. It probably went up a few million while you were reading this. Hit F5 to see.)

[goddess40]

9. Bastards, just like the Patriot Act

Panic, Panic, Panic and then jam something through

[OakCliffDem]

10. 700 billion is all the money we can print in one year