Showing posts with label TARP. Show all posts
Showing posts with label TARP. Show all posts
Wednesday, February 25, 2009
A Revolution is Coming
Did you hear that giant sucking sound? That was another $410 billion dollars going down the drain today compliments of 229 Democrats and 16 Republicans who voted for the 2009 Omnibus Appropriations Act.
I'm sort of with Ed at Hot Air on this one. I doubt that one person in a hundred on the street could identify an earmark in either Porkulus or Omnibus.
Is it true, as Ed says, and even as one of my commentors said, that Americans just don't care about the earmarks? Are they just such a part of politics that we assume it is business as usual and don't pay attention?
The hypocrisy of it all just slays me. Obama has the gall to tolerate this from Congress, not veto earmarks, and at the same time hold a "Fiscal Responsibility Summit"? Seriously? From Obama's On The Issues site:
Shine Light on Earmarks and Pork Barrel Spending: Obama's Transparency and Integrity in Earmarks Act will shed light on all earmarks by disclosing the name of the legislator who asked for each earmark, along with a written justification, 72 hours before they can be approved by the full Senate.
He promised earmark reform. He promised to go through and veto "line by line" any earmarks in legislation that crossed his desk. Did he do that in the Stimulus bill? Of course not. When asked, he said that if those expenditures were in the bill all along then they were not earmarks. Shell game.
Please tell me how the garbage in the Omnibus bill is not defined as earmarks? Tattoo removal? Honeybee Insurance? Star-gazing in Hawaii? There are close to 9000 earmarks in the Omnibus bill.
Yet we're going to cut back on military spending and scale back in Afghanistan and Iraq.
If the economy is SO bad, and if we are going to spend all this money to rescue irresponsible home owners who made poor decisions about home loans, and if we are going to nationalize banks, and if we are going to bailout the auto manufacturers, and if we are going to keep pouring more money down this black hole of irresponsibility and poor decision making, why not fund earmarks for Brown Tree Snake Management or North Pole Wastewater Management?
If you're keeping count that's almost a TRILLION in Porkulus, now $410 billion in Omnibus. We haven't even gotten to the next TARP which is coming, or the $634 billion health care package which is coming.
Exit question? Where in the hell does it stop? Does it ever?
Exit question 2: You think he's going to do all this and NOT raise YOUR taxes?
Oh wait, I know. I'm supposed to suck it up because it's for the greater good? Sounds like socialism to me.
Sunday, January 25, 2009
Read the Stimulus
There was a lot of discussion this morning on the progress of the stimulus plan. On Face The Nation, VP Joe Biden said that "important progress" is being made and that there have already been many compromises made between Democrats and Republicans.
Meanwhile, John McCain says that there need to be "major rewrites" done on the stimulus before he will vote for it. He told Chris Wallace on Fox News Sunday this morning, "As it stands now, I would not support it." Contrary to what Biden says, McCain says that as far as he can tell, no Republican proposal has been incorporated into the bill.
Nancy Pelosi spoke to George Stephanopoulos and in response to his question regarding incorporating Republican ideas into the bill, she said, "Well, we will take some. We will judge them by their ability to create jobs, to -- to help turn the economy around, to stabilize the economy, and to see how much they cost. But we’re open to them, and we’ll review them, and it all has to be done right away because our bill has to come to the floor this week."
She also said with regard to increased welfare and unemployment insurance issues, "Food stamps, unemployment insurance, some of the initiatives you just mentioned, what the economists have told us, from right to left, there is more bang for the buck, is the term they use, by investing in food stamps and in unemployment insurance than in any tax cuts."
I'm not an economist by any means, but I don't actually agree with that statement. It's been proven and well documented that tax cuts do far more to stimulate a depressed economy than extension and enhanced social programs which don't do anything to actually move the economy forward.
At any rate, disagreement on this bill is certainly expected and in the end I hope both sides put aside partisan BS for the good of the country.
If you want to look at the stimulus yourself, there is a place you can to that here, and add your comments or suggestions. Get involved!
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