The original bailout was ONLY $700 billion, and everyone with a brain warned that it would grow because there are $5 trillion of mortgages larger than the value of the underlying homes.
Now the Senate is trying to “IMPROVE” the bill. This why we need a Constitutional Amendment banning anyone who has ever been a Senator from becoming President. Being a Senator permanently, irreversibly damages your mind. Oh, both candidates are Senators, so we are in real trouble because they are Senators and their minds have been permanently infected with “SENATORITIS” the chronic, terminal disease closely related to Alzheimer’s.
Because they have SENATORITIS, both candidates support the IMPROVED Senate version of the bailout. The IMPROVED Senate bill is what Senators think will make it more attractive to more voters and therefore more likely to pass. It proves the old joke that a Hippopotamus is a mouse designed by Congress.
The Senators are totally oblivious to the complaints voiced by 95% of voters that the original bill will (1) cause inflation, (2) bust the budget, (3) cause the value of the dollar to drop, creating even higher gasoline prices, (4) require a huge tax increase.
The SENATORITIS “improved” the bill by ADDING Senator Obama’s (of course the moron is a Senator) (1) $64 billion earmark for ACORN and LA RAZA, (2) $40 billion to repeal the AMT, and (3) $68 billion in alternative energy tax credits. These increases total $172 billion more costs to the taxpayers.
The $17 billion is $1,700 per household increase, and raises the total bailout to more than $8,720 per household, and it is still growing. It will end up costing way more.
These increases/improvements total $172 billion in additional tax increases required to pay for them.
These increases/improvements total $172 billion of inflationary pressure on our rapidly inflating currency, wiping out the value of our savings and investments.
These increases/improvements total $172 billion in the budget deficit that we have to borrow from China.
These increases/improvements total $172 billion that are being passed with no hearings open to the public, with no voice of the people. THE BASTARDS ARE RAMMING THIS DOWN OUR THROAT IN TOTAL DISREGARD OF THE EMAILS AND PHONECALLS FROM THE VOTERS OPPSING EVERY FORM OF THE BAILOUT.
The bailout has grown from $700 billion to $872 billion in less than one week. Imagine what it will really cost? Congress just increased the limit on our debt ceiling by more than twice the size of the bailout, indicating that the bastards intend to spend double the amount of the bailout.
Stop this destruction of America by clicking on the following link, enter your zip code in the box on the left to find your Senator, and cut and paste the following message into the message box to both of your Senators:
We do not want any form of mortgage bailout, no matter how much you increase it, change it or rename it. Repeal the CRA Community Reinvestment Act and abolish Fannie Mae, Freddie Mac and the FHA. NO BAILOUT OF ANY KIND! NO BANKRUPTCY JUDGES REWRITING MORTGAGES. No assistance to freeloaders who got a house for no money down and won’t pay their mortgages. No cash to cities to buy foreclosed homes. NOTHING! Let the FDIC and Fed take over failed banks and eliminate mark to market, but no government interference in the working of the free markets, or we will impeach you! Got it? We mean it!