Sunday, February 1, 2009

Some thoughts on the bail out package.

It has been sometime since I have written anything for the Rant. I have had other irons on The fire and had to get them done.

Well, the election is over and we have our first black president. I personally do not care whatcolor his skin is as long as he can get the job done. George Bush was a complete disaster as far as I am concerned. I voted two times for him as the alternative was a complete piece of crap both times! George Bush was a good man, but it is always good men who do the most harm in the world.

Bertrand Russell in his book "The Harm That Good Men Do". Printed in 1926 says and I quote:"Among politicians good men have their uses, the chief of which is to afford a smoke-screen behind which others can carry on their activities unsuspected. A good man will never suspect his friends of shady actions: this is part of his goodness. A good man will never be suspected by the public of using his goodness to screen villains: this is part of his utility. It is clear that this combination of qualities makes a good man extremely desirable wherever a somewhat narrow-minded public objects to the transference of public funds into the hands of the deserving rich. I am told -- though far be it from me to endorse this statement -- that at a not very distant period in history there was an American President who was a good man and served this purpose". Does this remind you folks of anyone?

Now for those greedy bastards the bankers. These people are nothing but pond scum. Let's start with executive compensation. The New York state comptroller has reported that employees of the New York financial world garnered an estimated $18.4 billion in bonuses last year. This money came from the $700 billion plan that congress passed to shore up the financial Sector, one thatDrew howls of criticism about a lack of transparency. No wonder the Treasury Would not tell us Where it went. They "stole" our tax money and gave themselves bonuses and purchased executive jets with it. If anyone should have accommodations in "Gitmo" these people should! President Barack Obama issued a withering critique Thursday of Wall Street corporate behavior, calling it "the height of irresponsibility" for employees to be paid more than $18 billion in bonuses last year while their crumbling financial sector received a bailout from taxpayers. "It is shameful," Obama said from the Oval Office. "And part of what we're going to need is for the folks on Wall Street who are asking for help to show some restraint, and show some discipline, and show some sense of responsibility." He is correct in his thinking.

The bail out package is so loaded with pork that if you holler "sooeeee" it will come running. some examples are: the House included $335 million in its package for STD spending. But the Senate, not to be outdone, provided $400 million in STD spending in its bill. The Senate spending bill has $75 million for smoking cessation. Now we have to pay for people's bad habits it seems. I quit "cold turkey" so can they as far as I am concerned! The House Democrats were forced to remove a separate $200 million that had been designated to boost contraceptive coverage under Medicaid, the government-run health care plan for the poor. That provision was removed after President Obama made a personal appeal to take it out of the bill. Republicans and some Democrats have complained that the recovery bill is loaded with items that would provide little short-term help in boosting the economy.

Some of the good things in the House bill are: an estimated $544 in federal spending and $275 billion in tax cuts for individuals and businesses. I sure as hell can use a tax cut how about you?

Included is money for traditional job-creating programs such as highway construction and mass transit projects. But the measure tickets far more for unemployment benefits, health care and food stamp increases designed to aid victims of the worst economic downturn since the Great Depression of the 1930s. Which is only right in my book BTW!

Tens of billions of additional dollars would go to the states, which confront the prospect of deep budget cuts of their own. That money marks an attempt to ease the recession's impact on schools and law enforcement. With funding for housing weatherization and other provisions, the bill also makes a down payment on Obama's campaign promise of creating jobs that can reduce the nation's' dependence on foreign oil.

The centerpiece tax cut calls for a $500 break for single workers and $1,000 for couples, including those who don't earn enough to owe federal income taxes. Chump change but I will take it! LOL Well we will have to see what the final bill looks like after the joint House and Senate committees meet for the final conference on the bill.

Well, its getting on to 02:28 in the morning here in California so I have to call it a night. My cats want to go to bed. Everyone be safe and keep your stick on the ice.

That's my rant for now.

Carl




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