Thursday, October 02, 2008

Porkers Lard $700 Billion Bailout

Evidently our U.S. Senators and Representatives just can't help themselves.

Case in point.... "Senate Approves Bailout." (WaPo) "The proposal - which calls for spending up to $700 billion to buy bad assets from faltering financial institutions - was heavily revised to attract wider support. The bill passed last night would extend an array of tax breaks worth $108 billion to businesses and families next year."

$108 billion!

Our legislators obviously suffer from legislative-Tourette's syndrome.

They shout-out their pet-project add-ons to even emergency measures intended to save the country from financial disaster.

Examples of the pork rife in this bill. Some of the earmar.... eh.... tax break "extenders" are: $192 million for Puerto Rico and Virgin Island rum producers, $6 million for manufacturers of children's wooden arrows (kid you not).. and, $40 billion in tax breaks for businesses over the next 10 years... even wool research.

Pork barreling is most odious when the country is over the barrel because of blatant maladministration creating dire situations that require "emergency" measures to staunch the devastation.... at least for the moment. Then the porkers pile on.

What started as a $700 billion, 2-1/2 page bailout proposal from Treasury Secretary Henry Paulson and turned into 100 pages in the House, was passed last night in the Senate.... all 451 pages of it.

There is a remedy at hand for those suffering from legislative-Tourette's pork barreling. Find out who are the worst sufferers, and when they come up for reelection send them home where they can do no further harm.

November 4!

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