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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.
Just as detractors hoped she’d go away, Sarah Pac is online.
Because 2012 is closer than you think.
They just can’t help themselves when it comes to stuffing pork in any and all bills, with both new waste, and renewals of old waste. Is it any wonder these bozos aren’t trusted, and Congress has single-digit approval ratings? The only bipartisan agreement comes on stuffing pork and earmarks at every opportunity — the one thing both parties agree on. Disgusting — and at 451 pages long, what are the odds any of the Senators actually reading the bill?
New Tax earmarks in Bailout bill
- Film and Television Productions (Sec. 502)
- Wooden Arrows designed for use by children (Sec. 503)
- 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)
Tax earmark “extenders” in the bailout bill.
- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)
What does ANY of that have to do with saving the economy? It doesn’t. Of course, this isn’t the final bill, but which is more likely — Congress will do the right thing and strip this pork from the bill, or to guarantee its passage they’ll load it up with even more pork earmarks?
Obama supports pork and earmarks, but here’s a chance for McCain to take a stand and — at the very least — make a speech proclaiming all these earmarks, and who they’re from. It’s unlikely the Senate won’t pass this pork-fest, but at least McCain could be on record.
Let’s hope the House doesn’t pass the pork-fest as well, and the House Republicans don’t knuckle under to pressure and demand the earmarks be removed, as well as protecting taxpayers from paying the $700 billion of the bill. They have the right idea — loans not bailouts. Let’s hope the House remembers it’s backbone and opposes this disaster (which will likely be laden with even more pork by the time the Senate passes it).
Harry the-war-is-lost Reid is trying to shift blame for his failure to move the “bailout” proposal forward. That might work for people who don’t realize it’s the Democrats holding the majority in both the House and Senate; Reid and Pelosi can pass whatever pork bailout bill they want, and the President will surely sign it. They don’t need any Republicans to do so. If a bill isn’t passed, it’s because the Democrats don’t want it passed. Democrats are the majority, they’re responsible for passing the bill and can do so at any time. What Reid meant was he doesn’t want to pass the bill right now, but he’s not the only blame-shifter.
“We need to get the president to get the Republican House in order,” Sen. Charles Schumer, D-N.Y., added while on the Senate floor. “Without Republican cooperation, we cannot pass this bill.”
Totally false, plain and simple. Democrats hold majorities in both houses, they don’t need any Republican support to pass this bill, other than the President (who will support it). The only possibility (and a remote one) is a possible Senate filibuster (Pelosi can pass it whenever she wants), which won’t happen. Even if it does, they’d only need a handful of fiscally irresponsible Republicans to go along (which they’d get).
Why won’t Democrats act? What are they waiting for? Could it be they’re posturing for political reasons? Or do Reid/Pelosi simply don’t know they hold the majority, and don’t realize they can pass anything they want? Is it possible Reid/Pelosi/Schumer know the majority of Americans are against the bailout, and want to spread the blame around come November?
Schumer/Read/Pelosi don’t need Republicans to pass the bill, they need them for cover for the upcoming election (so in a sense, Schumer is right, they can’t pass the bill without the cover of Republicans for their pork — they can pass it without Republicans votes, but they’re hoping the blame game works. Politics as usual).
It’s interesting as Obama tries to paint McCain as agreeing with Bush, it’s Obama and the Democrats who walk in lockstep with the President to give $700 Billion of your money to Wall Street (tax and spend yielding to tax and giveaway). Is that what you want? Do you agree with Obama in giving handouts of $700 billion of your money to failing companies? Is Obama correct in taking your money and giving it to corporations who bungled their management? If you’re paying your mortgage on time, do you agree with Obama those exercising fiscal irresponsibility should be rewarded?
It’s McCain and a minority of Republicans who want something different (along with most of the American people). Will Democrats team up with the President to ram a pork bill through? Or will sanity reign and a reasonable approach (loans instead of bailouts and rewards which leave the taxpayer footing the bill) supported by others have a chance?
We’ll see what happens, but don’t buy the lie Reid and Pelosi need any Republicans to go along. They do not as they’re the majority (even if they fail to act like it). Since Obama aligns with Reid 95% of the time, is this the leadership the country looks forward to in an Obama administration? Do you want politics put first? Or country first?
In Washington, it’s a showdown between the representatives of Wall Street and the representatives of Main Street. But have you noticed that the old partisan alliances are reversed? It’s the Democrats who are now the Wall Street Party. And Republicans — with the conspicuous exception of President Bush — are now the Main Street Party.
Consider: President Bush proposed the $700 billion plan; after days of hiding behind the Secretary of Goldman Sachs, Henry Paulson, Bush finally emerged from the sidelines Wednesday night to tout the plan in prime time. Just this morning, he spoke again in favor of his plan, while again taking no questions from pesky reporters.
But the Congressional Democrats, who mostly despise Bush, are also mostly for the Bush plan. Sure, they made some cosmetic changes in the bailout proposal, but they have never wavered in their basic endorsement.
So who’s against the plan? It’s Congressional Republicans who are getting in the way. They are the heroes of the hour. Although outnumbered, these brave Capitol Hill GOPers have stopped official Washington in its tracks.
Why? Because the Democratic majority, supporting the bailout, doesn’t actually dare to vote for it unless they know that most Republicans will vote for it, too. And that’s because the Democrats fear that this bailout legislation is deeply unpopular with the country. So the only way that Democrats can vote for the bill and be safe this November is if Republicans also put their names on the legislative dotted line. Not a profile in courage for Democrats, of course, but it’s smart practical politics for them to demand some ‘cover.’
Reid/Pelosi know they can pass the bill anytime they want. They’re hoping first nobody realizes that, and second, they can stall long enough to cover their collective #!&$ for a bill the American people don’t want.