I read the news today - oh boy (ongoing)
Breaking News Alert
The New York Times
Tuesday, October 14, 2008 -- 8:45 AM ET
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Bush Calls Plan to Invest $250 Billion in Banks 'Essential'
President Bush, speaking from the Rose Garden Tuesday before the markets opened in New York, called the government plan to invest up to $250 billion in banks essential to help assure stability in the financial system. The president described the government's new proposal, which includes a guarantee on new debt issued by banks and other measures, as "unprecedented and aggressive."
Excuse me... I'd like to ask a question, if I may. Is this $250 billion of which you speak part of the $750+ billion we already gave (had taken from us;) or is this to be an additional $250 bailout added on to the first?
And while you're bailing out Wall Street CEOs and bankers, I can't help but notice that your party doesn't want any part in developing a modest ($300 billion) bailout plan for us. Yes - a teeny-tiny $300 billion slice (of that trillion pie that we're paying for already) that would actually help the citizens who are footing this 'unprecedented and aggressive' Wall Street/Banker bailout.
What - not even a crumb for us?
A House Republican aide quickly dismissed a $300 billion stimulus package as "even more irresponsible and ridiculous" than the smaller packages Democrats have previously discussed. Republicans are particularly resistant to spending federal money on "a huge public works plan" or "bailing out states who spent a lot more money than they should have," House Minority Whip Roy Blunt (R-Mo.) said Sunday on ABC News's "This Week."
In a letter yesterday to Pelosi, House Minority Leader John A. Boehner (R-Ohio) laid out an alternative plan for stimulating the economy that includes cutting taxes on corporations and capital gains, as well as some new provisions that Democrats said could form the basis of a compromise. Boehner's tone, however, was far from conciliatory.
"Nothing currently being discussed by the Majority as 'stimulus' will stabilize the economy long-term," Boehner wrote. "Our constituents are not looking at the mess in Washington or Wall Street and asking the federal government to take care of other governments. They are not asking for . . . pork-barrel spending masquerading as 'stimulus.'"
The White House had threatened to veto previous Democratic stimulus packages, though the rhetoric has softened as the economy has worsened. In recent days, White House officials have declined to comment directly on the proposals, noting that a package could not be approved until lawmakers return to Washington Nov. 17.
Oh yes - cut corporate taxes again. That will certainly help the people who are losing their jobs and homes. I'm surprised American corporations are still paying taxes; I thought the GOP let them off the hook years ago.
Besides, most corporations have moved offshore. We don't work for them. They wanted cheap labor, freedom from providing employee health care, freedom from unions and zero government oversight - freedom from responsibility to anyone but their shareholders. And in the wake of their mass defection, many American citizens are now unemployed.
How are we expected to buy these Walmart 'goods' now flooding in from China - the lead-filled toys and poisoned food - if we don't have wages or homes in which to keep them?
At least bow to simple logic, if not to patriotism and compassion.
Oh and please remind us once again, because we've forgotten: why would we vote Republican in this election? Are you going solely for the masochist vote this time?
Labels: bailout, banks, economic recovery, economic stimulus package, GOP
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