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Both Chris Dodd (D-Conn) and Democrat President Obama have voiced righteous indignation about the AIG bonus payouts. But when you look a bit deeper, you wonder why both men are complaining — after all, they each had a major part in allowing the payouts to go forward. First, the President, in a press conference, stating they knew where AIG spent all the money (that would include the bonus).
From White House press secretary Robert Gibbs’ briefing two weeks ago, when $30 billion in additional funds were announced for AIG. AIG had at this point designated $165 million in retention bonuses for officers of the Financial Products subsidiary, as well as an additional $121.5 million in executive bonuses.
TAPPER: AIG, is the administration confident that it, that it knows what happened to the tens of billions of dollars previously given to AIG?
GIBBS: Is it confident — I’m sorry?
TAPPER: That they know — that you guys know what happened to the previous billions before you hand over this next $30 billion.
GIBBS: Yes — yes, the — I mean, I don’t think it’s a — well, obviously, you’ve got a huge insurance company that is losing money, not the least of which because of its sheer size and sheer size and decrease in the growth in our economy. It experiences a far bigger drop, largely because of its size. But, again, the steps that — that Treasury and — and others took were to ensure a larger systemic problem wasn’t one that we had to deal with here today in letting something just die.
TAPPER: But in terms of specifically the — I guess it’s like $150 billion before, you guys are confident…
So the President says he knew where the money went — and that includes the bonus money. Gee, wonder why he never complained about it until now? We’ll see why after examining Chris Dodd’s role.
While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law.
So why is Chris Dodd (D-Conn) upset? He added law exempting bonuses to the stimulus bill. And now he feigns indignation?
So what do Mr. Obama and Mr. Dodd have in common, besides both men knowing those bonuses were to be paid out from the bailout money (one stated he knew where the money was spent, the other specifically exempted bonuses). They’re both number 1-2 in political contributions from AIG, Mr Dodd first at $103,000 and Mr. Obama second at $101,000 (third place was less than $60,000, and then fourth place on drops to $35,000 and less – so Obama/Dodd fed the most at the lobbyist trough. Data from Opensecrets.org).
And that’s how they can both encourage and know those bonuses would be paid, and then (for political reasons) feign being upset about it, when they knew it all along. Same old politics in play — do one thing behind closed doors for lobbyist $$$, do another for the public.
That’s change we can’t believe in, just more of the same old-school Washington garbage.
… are doomed to repeat it.
Recall when the Patriot act passed Congress, and the Democrats complained it was rammed through Congress so fast nobody could read it (and we know how well that worked out)? It’s Deja Vu, all over again, only this time, it’s Democrats ramming a spendulous political payback bill thorough Congress so fast nobody can read it (with special “stimulus” spending for Reid’s and Pelosi’s districts — like train lines and mice). What happened to transparency? What happened to 48 hours of public notice? What happened to debate? Just like PAYGO, Democrats abandoned all their campaign promises — after all, they don’t need votes (right now), so why bother with those pesky little promises? Doesn’t everyone know those only applied to campaign season?
The bill just came out of conference committee, and at over 1,000 pages, it must be voted on today? Why the rush? Why no debate? Why can’t they even (gasp!) read the bill — is it too much to ask for Congress to actually read what they’re voting on? (Hint: It’s reported Pelosi wants to jet out of town today — maybe true or not, but even if true, it’s no excuse for a rush on spending trillions).
Would you put your name on a contract without reading it? If not, you’re smarter than the entire Congress, who can’t be bothered to actually read the bill — after all, they’ve got pork to distribute!
Unfortunately, they’re not putting their name on the credit card — it’s ours.
The following story caused quite an uproar, which the media calls a “botched abortion”, but is it really?
Eighteen and pregnant, Sycloria Williams went to an abortion clinic outside Miami and paid $1,200 for Dr. Pierre Jean-Jacque Renelique to terminate her 23-week pregnancy.
Three days later, she sat in a reclining chair, medicated to dilate her cervix and otherwise get her ready for the procedure.
Only Renelique didn’t arrive in time. According to Williams and the Florida Department of Health, she went into labor and delivered a live baby girl.
What Williams and the Health Department say happened next has shocked people on both sides of the abortion debate: One of the clinic’s owners, who has no medical license, cut the infant’s umbilical cord. Williams says the woman placed the baby in a plastic biohazard bag and threw it out.
The woman involved will of course sue, but for what? Abortion is designed to eliminate the baby, and the clinic did exactly that, in a similar manner had the “doctor” arrived on time. What legal case exists — services performed as expected resulting in the death of a baby?
Of course, it also must be noted Obama’s stance in these matters matches exactly what the clinic did — refuse medical care to babies born alive and allow them to die. So the clinic rendered the service they were supposed to do (terminate the baby), and with the President supporting the policy of denying medical care to new babies.
With all this in mind, our question remains why the uproar? How can anyone be surprised by these events?
Suppose the “doctor” arrived on time, what would the sequence of events have been? Depending on the exact abortion procedure, he’d kill the baby — perhaps by crushing the skull and vacuuming out the brain, or by dismembering it in the womb. He’d then re-assemble the pieces on the table to be sure he got them all, then pack them in a biohazard bag and throw it out.
Is that much different than what actually happened?
So the question remains, why the concern? For the pro-life crowd, it happens every day across the country — why is this case so different? For the pro-abortion crowd, the “doctor” would do almost exactly what the owner did — so why does it matter? And the President supports denying newborn babies medical care, resulting in their death, so the actions have the support of the President.
Why does this case matter?
“A failure to act, and act now, will turn crisis into a catastrophe.”
— President Obama, Feb. 4.
Catastrophe, mind you. So much for the president who in his inaugural address two weeks earlier declared “we have chosen hope over fear.” Until, that is, you need fear to pass a bill.
Why the rush to pass a bill which won’t have any stimulus for years? Because it’s filled with billions for ACORN and other non-stimulus pork. That’s why it has to be pased NOW NOW NOW. If you don’t give in to the pork, the world will end, or so says Mr. hope-n-change. Besides, if you really find out what’s in it, nobody will want it.
$50 million for the National Endowment for the Arts
$380 million in the Senate bill for the Women, Infants and Children program
$300 million for grants to combat violence against women
$2 billion for federal child-care block grants
$6 billion for university building projects
$15 billion for boosting Pell Grant college scholarships
$4 billion for job-training programs, including $1.2 billion for “youths” up to the age of 24
$1 billion for community-development block grants
$4.2 billion for “neighborhood stabilization activities”
$650 million for digital-TV coupons; $90 million to educate “vulnerable populations”
Best ammendment offered so far: $2 billion to encourage low-income housing. Gee, isn’t subprime mortgages how we got in this mess to begin with? So let’s do more!
The more people find out about the “stimulus”, the more resistance will come. That’s why Mr. hope-n-change switched tactics to fear-fear-fear the-sky-will-fall without all the pork! He knows if you really know where your taxes will end up, nobody will want this pork-fest.
So tell me, how will the country pay back the trillions going to special interest groups? Is that the legacy hope-n-change leaves to the next generation – trillions for special interest groups? After all, following the example of his own cabinet, nobody will bother paying taxes anyway.
With all the “stimulus” (read political paybacks) floating around few talk of the incredible inflation these policies will create. And yet Obama wants to add yet trillions more in “stimulus”? The only result of the pork-filled stimulus package will be …. massive inflation.
From the St. Louis Federal Reserve:
You can’t create trillions of dollars without causing inflation and devaluing the currency. What’s worse, the “stimulus” won’t accomplish anything positive for the economy, it’s only goal is to spend pork — most of the spending doesn’t even happen this year. So why rush it? Only so the political operatives can pay back campaign people quickly.
Thanks to Glenn Beck for finding this chart.
The Stimulus will be a pork-fest — only Washington Elites believe otherwise. As more proof, consider Pelosi on “This Week” as she said abortion counts as “stimulus”:
STEPHANOPOULOS: Hundreds of millions of dollars to expand family planning services. How is that stimulus?
PELOSI: Well, the family planning services reduce cost. They reduce cost. The states are in terrible fiscal budget crises now and part of what we do for children’s health, education and some of those elements are to help the states meet their financial needs. One of those – one of the initiatives you mentioned, the contraception, will reduce costs to the states and to the federal government.
STEPHANOPOULOS: So no apologies for that?
PELOSI: No apologies …
Remember, “family planning” is code for planned parenthood, whose business is abortion. In Pelosi’s alternate universe, abortion is good for the economy.
In Pelosi’s world, less mouths to feed equals less money states will have to spend. Show me one economist that says that we are in an economic crisis because of a birth control shortage, or one that says more contraception (aka: population control) will get us out of it faster. What’s next? Federally funded euthanasia?
Republicans aren’t the only ones shaking their heads in disbelief at Pelosi’s latest perplexing policy push. She will likely make many Democrats horribly uncomfortable. It’s one thing to be pro-Choice; it’s another to spend tax payer money on abortions at home — and abroad — in the middle of a financial crisis.
Even Pro-Choice Feminists understand this has nothing to do with economic recovery.
As a pro-choice feminist I am sickened by this obscene argument explaining why there are hundreds of millions of dollars for “family planning” services in the so-called stimulus bill. What does Nancy say? “It” (the reduction of children as opposed to the reduction of politicians and bureaucrats) will reduce costs the states have for children’s education, health care, etc. Instead of arguing that families should start paying for their children instead of the state and federal governments, Obama (via Pelosi) argues the number of children are the problem, not the fact that government has simply gotten so massive it is now advocating eliminating those who are a ‘drain’ on “costs.” This argument is a hallmark in socialist-fascist states, and now it’s here.
Don’t forget, Obama already talked of being “punished with a baby” in supporting his stance on abortion, so the attitude of the President and Speaker of the House think children are a burden and a problem.
The Stimulus will be 95% pork, and 5% for working people, and Madam Speaker defends it. When you’re thinking of helping the economy, be honest, did funding abortion (oops, “family planning”) clinics ever enter into your mind? We thought not. Instead, Pelosi and her cohorts on Team RePO (Reid/Pelosi/Obama) will attempt to use the “Stimulus” as the greatest far-left social program in the country’s history.
How can funding contraception and abortion be considered in any way funding economic recovery? Pelosi can’t be serious, so what’s her real motive?
Pork in Washington? We’re shocked — no change there, and all the flowery rhetoric can’t change reality.