Last night, October 1, 2008, the Senate met and voted and acted like true Statesman. Unlike the House who have used this crisis as a wiping post for each other. The idea of conduct, to be bestowing to the office held, should not be lost. However, I have heard that the senate members have added to the bill proposed for this crisis many unrelated ear marks. One is a repeal of an excise tax of $.39 cents per wooded toy arrow imported. Another is a reduction in tariff on Rum imports and a subsidy on Racing. There are many others, which cause a tax short fall and jeopardize the house passing it.
Does this mean that the Senate believes we need a bunch of drunken kids, racing around, shooting arrows at each other to solve the banking liquidity problem?
Believe it or not?
Richard
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I will post the full list of pork when they print the bill. I got it on t.v. too fast to write it all down.
Richard
It turns out it was $100,000,000,000 in pork.
One Hundred Billion!
Richard
There was supposedly one ear-mark for Wool Producers! I continue to be amazed that Treasury Secretary's original 3 page proposal which he took to Congress, managed to morph into over 100 pages with the House bill, and then on into a whopping 451 pages by the time the Senate got done with it. . .Amazing!
At least they got it done ! But some of those pet projects or "pork" that got in the bill do not make any sense... is crazy. I bet a lot of folks have no idea what they voted for !
"the bill included such unrelated provisions as tuition and child care tax credits, $18 billion in incentives to develop clean alternative energy and a requirement that health insurance plans that cover mental health care use the same co-payments and other standards for that care as are applied to physical care. And, of course, don’t forget the reduction in Puerto Rico rum excise taxes and wool import duties and tax credits for training mine rescue teams, employment near Indian reservations and maintaining railroad tracks, among others."
Got this off a blog: http://www2.ljworld.com/news/2008/oct/04/passing_pork/?opinion
all the best
Myrl:
I think our legislators are totally out of control and do not care. They are like juvenile delinquents.
Christopher and Stephanie:
Yes I am happy it done, but it has really taken away any respect I could have for these people.
John:
It was every man in hand in the cookie jar, no one was left out.
Richard
I still don't understand how this will help anyone? They say it will help relieve the credit freeze. So, now the banks will have more money to lend! What good is it to people that just had their house foreclosed on. They can't borrow money with a foreclosure on their credit report! Neither can the guy that lost his job - he won't qualify since he has no money to pay back. How is it that we will get out of debt by getting into more debt?! I would've let it ride on its own and let the water find its own level. And when it does, only the strongest, the ones that have something of value (not worthless papers) will survive. It will clean up the trash and get rid of all the sleazy, greedy speculators out there.
Meli,
For many it is late in the game to give relief. I guess we are just hoping to get things going again.
Richard