Great Job Congress! October 4, 2008Posted by partinsanechochamber in Opinion.
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Congratulations are also graciously extended to President George Bush for signing this bill into law. Who knew how expensive compassionate conservatism would turn out to be?
“The Treasury Department is authorized to “guarantee” home mortgages, essentially becoming a kind of co-signer, to reduce the number of foreclosures. If the home owner stops paying his or her mortgage, taxpayers would be on the hook.”
And let’s not forget Mother Nancy who successfully scolded the Republicans last week in a successful attempt to keep them from voting for the earlier, less expensive, bill.
That includes, as the New York Post pointed out, millions in tax breaks and related pork for kids’ wooden arrows, Puerto Rican rum producers, auto race tracks, and corporations operating in American Samoa. (The likely explanation for the latter: StarKist has a large tuna-canning operation in American Samoa. And StarKist’s parent company happens to be located in the district of House Speaker Nancy Pelosi.)
Now that our paid representatives have done their jobs bringing home the pork and helping Starkist Tuna, we no longer have to worry about any more bailouts.