The $700B (I mean $850B) Bill, Take 2!
Over the course of about 5-6 days, Treasury Secretary Henry Paulson wrote a 3-page overview of a $700B bail out bill, the Senate and House of Representatives had written a 110-page $700B bail out bill (also dubbed “Rescue” Bill) for the ensuing subprime mortgage/economy “crisis,” they had denied that same bill, and then “wrote” an astounding 451pg revision of the original bill, bringing it to $850B.
Unfortunately, most of what the politicians and media will tell you, is that it’s a necessary evil to pass this bill, because the economy is in dire need of it. If it doesn’t get passed, the market and economy will only get worse and the eventual “Greater” Depression will follow, soon thereafter.
What they won’t tell you, is that this bill is a Pork Barrel Bill. What they won’t tell you is that a multitude (possibly hundreds, since we now have a 451pg bill from 110 (and originally 3)) of smaller, less important (to the nation as a whole) bills are being tacked on to the $700B “rescue” bill. Things like tax cuts for Hollywood movie producers, tax cuts for wooden arrow makers (what?!) and an extension delving into global warming that allows for businesses to be compensated for money given to carpoolers and bike riders (from home to work and back). Yeah, that kind of thing. You can read the bill, in its’ entirety, here. I mean, if you enjoy that kind of pain. Keep in mind that these Senators had these attached bills already built and written up, so it didn’t actually take them only 2-3 days to write them. So, if you do read the entire thing in a day, I’d be very surprised and… happy for you?
What the media nor politicians also won’t tell you, is that to get Senators (and hopefully House Reps) to vote in favor of this bill, they had to attract them with these smaller bills that the Senators/Congressmen have wanted to pass, specifically for their own areas of interest. If you ask me, that’s bribery. “Hey Ken, if you vote for this, we’ll tack your bill on, as well.” What’s more important? A $700B “rescue” bill to “save” the economy of the United States, or to compensate bicyclists for pretending to save the environment? Obviously the rescue bill should take priority over these little dink bills and shouldn’t need to have bribes attached.
I’m really appalled at the government for having gotten so corrupt, that bribery is openly accepted. Think about it… really think about it. Do the actions of our Senators really scream morality? We’re watching as this is happening. I’m equally appalled at the government for even considering this rescue bill, given that it goes against everything that our founding fathers (and I would hope most Americans, today) believed in, in regards to an openly free market system.
I’m even more astounded that the government felt that they had to get involved with the market in the first place. That’s the true cause of all of this. They helped in creating these government-backed corporations, Fannie Mae and Freddie Mac, which have been involved in corruption and failed management from the get-go. The top executives of these two companies made an unbelievable amount of money; more money in a few years, than some people make in their lives.
Not only did the executives get such great incentives and bonuses while being there, and even on their way out, but politicians who were connected with the companies also reaped the benefits and made a killing: Barney Frank, Chris Dodds, Charles Schumer, even Barack Obama, and more. All of these representatives were also responsible for the destruction of any attempt to regulate these two companies in the housing market.
Now, Obama has some of these Fannie/Freddie people working for and supporting him on his campaign. Let’s call them the Injustice League of Economic Issues, leading the pack: Barack Obama (Presidential Candidate), Jim Johnson (VP Search Committee & Supporter) and Franklin Raines (Economic Advisor (to a degree) & Supporter). You’re going to trust this guy to fix the economy? You’re going to trust this guy to run the country? Can we say 4 More Years of Clinton Corruption?
The American people need to see some real action being taken. We need to see ALL of those responsible taken in for questioning, and when it’s been proven that they’re at fault for the corruption taken place, they need to spend some time in Federal prison. Look at Enron… why look the other way now? Eh, Libs? Why is it ok to pass the bill, quite literally, now… but not then?
Anyone else sick of the two-faced politics, yet?