for everything else, there's the U.S. taxpayer!!!
The $700 BILLION bailout plan came from the Treasury secretary Henry Paulson, who said if the bill was not passed this week then the world economy would crumble & die.
Despite that, on Monday the House refused to pass the $700 BILLION Wall Street bailout package.
They appeared to be listening to the will of the American people, and we rejoiced!
Wall Street of course freaked out and stocks dropped 777 points in one day.
However the next day stocks rose back up over 500 points with no bailout help at all.
Hummmmmmm....interesting!!!
Those not satisfied with the results in the house sent the bill to the Senate for a vote.
The name of the bill was changed to the "taxpayers rescue bill" and somewhere along the way the bill swelled from a 3 page proposal to 442 pages.
$150 BILLION more was tacked onto the bill bringing it to a grand total of
$850 BILLION.
With $150 BILLION in pure pork added on to the bill it passed of course with a vote of 74 to 25.
They did not listen to us and they did not listen to the MANY renowned U.S. economists who urged them NOT to pass this garbage and warned of the consequences if it was passed.
Both Sen. McCain and Sen. Obama voted for the bill even though both have promised to get rid of earmarks if they are elected President.
McCain has even gone so far as to say that as President he would veto EVERY single bill that comes before him if ANY earmarks are included in them.
I personally think this vote was the death nell for John McCain's Presidential bid.
Now back in the house and with the $150 BILLION in added pork, the bill passed
263 to 157, and 48 minutes later President Bush signed it into law.
Immediately following that congress closed session and left Washington as fast as they little feet would carry them. They wont be back until November.
NOW FOR THE SHOCKING LITTLE DETAILS........
Almost half of the $700 BILLION will go to bail out FOREIGN investors and NOT Americans.
Of the American investors to benefit most from the bailout is Goldman Sachs, the company that Treasury Secretary Henry Paulson used to work for.
Funny how that worked out isn't it!!!
The bailout bill also renews the Internal Revenue Service's authority to conduct undercover operations, which had expired in January 2008.
It immunizes the IRS from a passel of federal laws, including permitting IRS agents to run businesses for an extended sting operation, to open their own personal bank accounts with U.S. tax dollars, and so on.
OF THE $150 BILLION IN PORK......
$2 million goes to a company in Oregon that makes wooden arrows for kids.
$192 million goes to the Rum production industry in the Virgin Islands.
$478 million goes to the TV & movie industry.
$100 million goes to Nascar.
$10 million goes for bike commuters
$148 million for wool research
and the mind numbing list goes on and on....
other pork included is; money for business development in American Samoa, research & development in high tech & pharmaceuticals, clean coal construction, plug-in hybrid cars, etc, etc, etc.....
It even included money to pay off lawsuit settlements from the 1989 Exxon Valdez oil spill. No need for the oil company to pay for it, our government just saddled us with the cost....no problem!!!
FUNNY THING THOUGH.....
immediately after this "save the world economy" bill was passed today we were told that we will NOT see much benefit, if any at all, from any of this money, until probably late next year.
Oh and Wall Street which was UP 250 points BEFORE the vote today....fell 400 points AFTER the vote to end with a 157 point lose for the day.
Hummmmm....very interesting!!!
Also right after the vote today more hands started reaching out and asking for a government bailout.
California Gov. Arnold Schwarzenegger says if the U.S. Treasury doesn't give him
$7 BILLION right away the state will go bankrupt, and other states are lined up right behind California.
Politics as usual!!!!!
Want to see how your Representative voted on the bailout???
go to..........
http://clerk.house.gov/evs/2008/roll681.xml
Want to let your voice be heard (even though they don't give a shit what you think)??
*Capitol Hill switchboard - ph# 202-224-3121
* House Speaker Nancy Pelosi
Email: sf.nancy@mail.house.gov
Phone: 202-225-4965
* Senate Majority Leader Harry Reid
Email: senator_reid@reid.senate.gov
Phone: 202-224-3542
* President George W. Bush
Email: comments@whitehouse.gov
Phone: 202-456-1111
4 comments:
MY ASS REALLY HURTS FROM THE REAMING WE ALL GOT TODAY
I love how right after the bill was passed they all ran out of Washington as fast as they could go
There are so many issues that need to be resolved and these idiots in congress have another recess. They're civil servants who should not be more time off when we have other things that need attention too.
But the democrats are smart...they're waiting out to see who wins the election. My advise to people is DO NOT pay attention to the polls. In the 2004 election...Kerry was in the same position as Obama is currently. And look how that election turned out. In fact if anything, Obama is peaking way too soon. So anything can still happen. Just be optimistic and continue to spread the word about McCain.
In reality we either get a far left liberal (extreme democrate). Or we get a moderate (inbetween democrat). But at least McCain doesn't want to lead america down a fast and slipper slope of Socialism. If Obama gets in...he will do everything to Nationalize Business' and then we're headed to Socialism. Socialism begins by taking over the economy first. The regulating the media and hollywood. And lastly, taking away several of the citizens civil liberties. If Obama who is a radical with a vision is successful in starting us towards Socialism. It would be difficult for another president in 2012 to bring us back to a democracy. But it can be done. If Obama becomes president. The people MUST stay ontop of this dude and speak out and voice their concerns when he attempts to implement his vision.
The last thing this nation needs to do is become Socialist. It's not what our forefathers had in mind and why so many people fought and died for our great nation.
Remember that our freedom and liberties were simply handed down to us and we're just mere custodians of these liberties and freedoms we currently enjoy. If need be...we just might have to revolt and start a revolution to ensure our system of democracy is not taken away from us right under our noses. If people need a reminder of what's to come under an Obama Administration. Just look at Europe, specifically...France, Britian, Germany and Spain...essentially all who are in the EU. And look what they are going through. Now in the UK. The courts accept partial Sharia Law when it comes domestic issues,...inheritence, divorce, disputes, etc. Only a matter of time that sharia law will expand it's governoring in the UK. Also, in the UK people are regulated in what they can say due to these stupid Human Right Laws. SO ask yourself....is this what I want for me and future generations in America. So be prepared on all levels and especially be prepared to fight if necessary. We could even use the Constitution against Obama in attempting to change our system. Please wake up all the idiots too blinded to see past Obama's personality and lack of substantance.
Many men have come with a good personality and shouted that change and reform was needed. And those people were the Hitlers of the world and look what it got them. Do a little research on people like Hitler, Khomanni. They always used someone to blame for the social ills a nation faced. Then they were energnic speakers and won the people over. But, in the end didn't have a clue and were just power hunger to control a nation and it's people. Educate yourself and then pass it along to others. Time is short but we do have some time on our side.
Sincerely,
A Very Concerned and Proud USA Citizen.
The money flowing via the taxpayer has just begun. You can guarantee that others will come out of the wood work asking the federal govt. for money to bail...oh sorry rescue them. Look at California...already asking for 9Billion. You know other states are right behind Cali waiting in line for govt. assistance. This shit makes me sick.
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