You can put lipstick on a bailout bill...
...but it's still PORK.
All the fat cats can dance and sing again...the Senate voted last night, 74-25, to approve an even bigger bailout/rescue package. It includes not only the original $700 billion blank check, but now it's stuffed with all kinds of pork.
John McCain and Barack Obama voted YES.
I like the new provision in the bill -- backed by both parties -- that would raise the $100,000 cap on FDIC for deposits to $250,000. But I'm confused about this being only temporary, and not permanent? Anyway, for right now, it will calm voters who are fearful of bank failures and stop any runs on the banks.
I do NOT support any giant government spending bill that helps homeless Wall Street executives. I want them to be held responsible for their actions. These same greedy foxes should NOT oversee the hen house again.
The Treasury’s first bill was 3 pages long. The House version, which failed, grew to 110. The Senate version now runs over 450 pages...and what are the odds that any of the Senators actually read the bill? What about all this pork?
New Tax earmarks in Bailout bill
Film and Television Productions (Sec. 502)
Wooden Arrows designed for use by children (Sec. 503)
6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)
Tax earmark “extenders” in the bailout bill.
Virgin Island and Puerto Rican Rum (Section 308)
American Samoa (Sec. 309)
Mine Rescue Teams (Sec. 310)
Mine Safety Equipment (Sec. 311)
Domestic Production Activities in Puerto Rico (Sec. 312)
Indian Tribes (Sec. 314, 315)
Railroads (Sec. 316)
Auto Racing Tracks (317)
District of Columbia (Sec. 322)
Wool Research (Sec. 325)
What does ANY of that have to do with saving the economy?
Ah well, at least race tracks and wooden arrow manufacturers got to keep their tax breaks.
So, now we wait to see if the House will approve this Senate version. I won't hold my breath waiting for them to do the right thing and strip this pork from the bill...they'll probably load it up with even more pork to guarantee its passage.
Here's how everyone voted:
Uh, can I have that Coke can when you're through with it?
