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Bush is upset
Sen. John McCain (R-Ariz.) and his top aides took credit for building a winning bailout coalition – hours before the vote failed and stocks tanked.
The rush to claim he had engineered a victory now looks like a strategic blunder that will prolong the McCain’s campaign’s difficulty in finding a winning message on the economy.
Shortly before the vote, McCain had bragged about his involvement and mocked Sen. Barack Obama for staying on the sidelines.
“I've never been afraid of stepping in to solve problems for the American people, and I'm not going to stop now,” McCain told a rally in Columbus, Ohio. “Sen. Obama took a very different approach to the crisis our country faced. At first he didn't want to get involved. Then he was monitoring the situation.”
McCain, grinning, flashed a sarcastic thumbs up.
And he can't blame the Dems cause more of them voted for this turkey
I think Obama smelled a trap and wisely didn't commit himself
First, Pelosi and Reid should get together and insist that no rescue plan gets passed without unanimous approval of both the House and the Senate. Either everybody's on board or nothing gets done.
Second, the funds for any rescue plan are provided for with an increase in the estate tax for estates greater than $25M. I'm willing to negotiate the floor for this estate size, but I think the rate should be in the 75% neighborhood. The folks breathing the rarified air of this neighborhood are responsible for this debacle; they should pay for it.
Third, most of the foreclosure and bankruptcy issues at the root of the current crisis are based in debts for healthcare and healthcare-related issues. Any profit made from the purchase of these securities should go into the Social Security lockbox. Further, starting now and continuing over the next five to ten years, Medicare and Medicaid should be opened up to include all citizens, with everyone phased in according to income gradually, starting with the lowest paid and continuing until everyone is covered. This means that employer-based healthcare can be gradually phased out with the savings in benefits passed on to employees in the form of salary increases.
Finally, I submit that any plan designed to save Wall Street and the American financial sector be named the Ronald Reagan Memorial "I'm from the government and I'm here to help." Act of 2008.
Best regards, Wally
This pig of a bill down Congress's throat. The Dems tried to dress it up with lip stick to make it more digestable but it was still a pig. Clearly the effort to rush this through was nothing more than a power grab by this administration. Just like he grabbed power when he started his stupid war in Iraq.Damn all who made political hay out of this both Dems and Repubics. Now maybe they can start over and pass a bill that will satisfy all especially the voting public. Of course Bush will probably veto it.
...it was a small clip, but he said we had an anwer and congress voted against it. Well, I don't know what kind of answer you can come up with, but that was a very quickly developed answer. I don't think this problem can be fixed in one shot.
Bad Nancy! ;-;
BILL TITLE: To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes
"OTHER PURPOSES"???? Is this a CIA budget?
Hopefully sanity will reign again. Passing this bill is the dumbest non-solution to a manufactured problem since they made Cool Hand Luke fill in the hole he just dug. These people are the biggest cowards who ever lived. If I could I would hold them accountable for market manipulation via pulling this faux-deadline shit. Credit locked up because it should have. There is no reason to start making waves in the markets by saying "if we don't do this NOW, then the sky falls...ok, NOW...uhhhh.... now?"
Wallstreet trying to unload some bad investments?
The House rejected.
"BILL TITLE: To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes"
Are you serious Mike? What does that have to do with anything?
Don't call it a bailout; call it a rescue. Surely, by changing the name the problem is solved. Now, who's the smarter of the two -- McCain or Palin?
A Rimming of the American people!
...but what do those things mentioned in the name of the bill have to do with wallstreet?
I mean tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, is a good thing, but what does it have to do with the wallstreet crisis. Are those things just tack-ons and the for other purposes clause is for wallstreet?
Republicans supplied less votes than Democrats had expected, convincing Democrats to vote against the bailout bill so as not to put their seats at risk. A vote for this bill is a vote to prevent economic damage.
A vote for this bill was a vote for the power elite, cronyism, stupidity, and good long screw to the value of the dollar and the taxpayer.
When all is said and done, this bailout will be seen as the toothpick trying to hold back the inevitable tidal wave. Although really it will be a gust of wind that helped it along.
And you know how those attempts work out. America- enjoy The Great Correction. Save cash, worry less about your debt, and stay away from credit if at all possible.
They are paid off and now I have a loan to pay off
HAPPY DAYS ARE HERE AGAIN!!!!
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