What's a Trillion Dollars Among Friends?

· by Mr. Me · General · 1 comment

President Bush just signed the "Emergency Economic Stabilization Act of 2008.  According to the Library of Congress website:

On 10/1/2008, the Senate passed H.R.1424 as the vehicle for the economic rescue legislation. In the EAS version of the bill (Engrossed Amendment as Agreed to by the Senate), Division A (pp.1-110) is referred to as the Emergency Economic Stabilization Act of 2008; Division B (pp. 110-255) is referred to as the Energy Improvement and Extension Act of 2008; and Division C (pp. 255-441) is referred to as the Tax Extenders and Alternative Minimum Tax Relief Act of 2008.

So...  Let's look at this Emergency Economic Stabilization Act of 2008.

Remember, that Division A, as mentioned above, is the Emergency Economic Stabilization Act of 2008.

Division A is entitled "Paul Wellstone Mental Health and Addiction Equity Act of 2008."  The summary on the Library of Congress website of this division of the bill has NOTHING WHATSOEVER to do with bailing out banks.

Hmmm.

It took a lot longer to search and find the actual text of the AMENDED bill.  The table of contents of this amended bill is longer than the entire text of the original bill.

I wrote my congressmen last week.  I asked them to vote against this bailout bill.  I believe that something should be done, but that something shouldn't be throwing a trillion dollars at the problem.  All of my congressmen voted for this bill as amended.  I'm going to write them again now.  They have all lost my vote forever.

1 comment

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  1. Giggles

    I'm beginning to believe that if the politicians would get out of the way, we'd have fewer problems. This wasn't an economic bill or an economic vote. It was all political.

    This is my favorite article about the economic crisis so far: You are to blame.