Article I section 7 of the Constitution says:
All bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.The House bailout plan has already failed, but now the Senate has its own plan. Is the Senate bailout plan a bill for raising revenue? I think it is. It's "debtified" revenue, but it nonetheless fits the definition. From dictionary.com, revenue is
the income of a government from taxation, excise duties, customs, or other sources, appropriated to the payment of the public expenses.This is definitely being touted as a public expense, and the government will eventually have to tax us to get the income to pay for it.
So it's not Constitutional, on top of the fact that it is economic insanity.
If you haven't called your senator yet, give him or her a call, and when they ask you why not to vote for a bailout, tell them, in addition to it not making the least bit of economic sense, that it violates their oath to uphold the Constitution.
That will be something they didn't think they'd hear!