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Senate Sends $634 Billion Spending Bill to Bush
Sep 28th, 2008 by Terresa Monroe-Hamilton
Not high on the news list today and not to be heard on the news that is on radio or television anywhere that I have gone… $634B for government spending - all pork and extras still included - this spending bill has now gone to Pres. Bush to sign… If we are in such financial crisis, this begs the question, why haven’t we cut out the pork? See Fox News… Key excerpt:
Taxpayers for Common Sense, a watchdog group, discovered 2,322 pet projects totaling $6.6 billion. That included 2,025 in the defense portion alone that cost a total of $4.9 billion. Critics of such “earmarks” promise to scrutinize them in coming weeks and months for links to lobbyists and campaign contributions.
This plan rips off the American people and fixes nothing. Your biggest clue - Dems are not willing to take sole credit for it… That’s per Pelosi by the way… Check out Michelle Malkin for a magnificent summary. Hell, ACORN corruption for everyone - ask Obama - it’s the ‘Community Organizer’ thing to do…
From Porkbusters - the disastrous Bailout Bill
or…
From the LA Times: Full text of the bailout bill (subject to revision)
From National Review Online: Discussion Draft
Update: Details on Wall Street bailout deal
Update: This is what the Bailout Bill actually says about Golden Parachutes:
Section 111. Executive Compensation and Corporate Governance.
Provides that Treasury will promulgate executive compensation rules governing financial institutions that sell it troubled assets. Where Treasury buys assets directly, the institution must observe standards limiting incentives, allowing clawback and prohibiting golden parachutes. When Treasury buys assets at auction, an institution that has sold more than $300 million in assets is subject to additional taxes, including a 20% excise tax on golden parachute payments triggered by events other than retirement, and tax deduction limits for compensation limits above $500,000.