Buy Now! Pay Later!

That seems to be the motto of Hank Paulson's bail out demands.

Today the Budget office had a Federal Responses to Market Turmoil Committee hearing.  Peter Orszag, Director of the Congressional Budget Office, in my opinion, confirmed what the critics are saying, this is not a wise plan. But read more and you decide.

The infamous question pops up again and again, what did they know and when did they know it? So let's apply this question to the fiscal impact of the bail out proposal.

What we know so far?