You thought they wre really fixing the country?  LOL!  The policitinas were just having some fun with us!  Ge, they acted so sincere!   Well they did it again!

There was an awful lot of pork in this government bailout bill, and if you check who sponsored most of it was Democrats.  No this in not a political rant, this is a fact.  Do your own research.  It isn't  a political rant.  I guess they had to pay back all the political gifts and favors they have received.  You thought they were doing the right thing, the fact is it is business as usual in DC.  So we have been screwed, and get ready for more.  Here are just some of the pork barrel items inserted into the bill.  Go ahead, do your own reserach.  Some of these programs go into the billions!  Yes, BILLIONS!

Before you comment, do your own research and have some fun.  Check out who sponsored what!  Then remember it next time you vote!  We've been sold out!

  1. Increase in limit on rum excise tax to Puerto Rico and the Virgin Islands. For Rum Manufacturers.
  2. Investors in the District of Columbia or on Indian reservations.
  3. Exemption from excise tax for certain wooden arrows for children. - Save Arrow manufacturers $200K a Year!
  4. Building and renovating restaurants.
  5. 7 year cost recovery period for motorsports racing track facilities. - save NASCAR track builders $109 million in 2008.
  6. Extension and modification of research credit. (Tax Breaks for major Corportations!)
  7. A $3.5 billion measure intended for health-insurance companies to cover mental illness. Provides extended coverage for addiction at employer expense.
  8. Income averaging for amounts received with the Exxon Valdez litigation.
  9. Secure rural schools and community self-determination programs
  10. Deduction for state and local sales taxes. 
  11. Provisions related to film and television productions.
  12. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds.
  13. Extension of economic development credit for American Samoa. $192 million.
  14. Inclusion of cellulosic biofuel in bonus depreciation for biomass ethanol plant property.
  15. Transportation fringe benefit to bicycle commuters.
  16. Enhanced charitable deductions for contributions of food inventory.
  17. Extension of enhanced charitable deduction for contributions of book inventory to schools.
  18. Transfer - abandoned mine reclamation fund - Abandondoned Funds given to United Mine Workers of America Combined Benefit Fund.
  19. Doubles the subsidy for biodiesel production from 50 cents per gallon to $1.00 per gallon.
  20. The bailout bill pays a marketing campaign for the Forestry Service or the Bureau of Land Management.

Jim Crawford REMAX

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52 Comments on The Bailout was A Sellout!

OCT
03
2008

Aloha Jim,

I think this was Bush's last big pay off to all his buddies

10:41pm • #1
1 Featured Post

I've just never understood the way the political system runs.  Every bill should stand or fall on it's own merits.  I firmly believe this, but everyone always tells me that this isn't how the system works.  Ok, so it isn't...so they are all just a bunch of idiots who do things wrong.  To quote Forest Gump...stupid is as stupid does.  That's my official opinion.

10:45pm • #2

I have posted the entire bill for everyne to read Click here

Carlos
10:45pm • #3

You're on target, Jim.  This bill wasn't Democrat, Republican, or even political!  It was just plain Criminal -- the Treasonous kind.

10:47pm • #5
648,373 Points 80 Featured Posts Outside Blog

Gregory Lohr (Freedom Foreclosure Prevention Services)  I totally agree wiht you.  It should be merit based!  However, I've said before you cannot spend $500,000,000 like Obama is doing for a job that pays $400K a year!  Someone has to be paid back!

10:48pm • #6
154,264 Points 6 Featured Posts Outside Blog

Thanks for the list. NPR had a brief intro to the addons this morning. Specifically mentioned the NASCAR, wooden arrow, and Hollywood bailout portions. I had previously read about the rural schools, mental illness, FDIC insurance, AMT and other tax extensions.

The Congress seems to think they really did a great job getting this passed. The bill passed because of addons?

It is unbelievable how this system works - why does adding unrelated legislation to such an important bill make it a good bill?

I plan to vote against every incumbent on the ballot.

I need to find Jan Wood's comments on this.

Thanks,

Richard

10:50pm • #7
648,373 Points 80 Featured Posts Outside Blog

Richard Smith Mortgages Home Loans FHA TN GA AL (American Acceptance Mortgage, Inc)  A lot of details in this bill the way it was written will not even surface for a few weeks.  They had more detail on the PORK they wanted than the substance of how they were going to fix things!

10:52pm • #9

Jim- Regardless of who threw what in Captain "No Earmarks" McCain didn't say one thing to stop this from happening with all the added pork. He was all for rushing this into action IMMEDIATELY!! Gee wonder what he will ok if he becomes president, maybe Alaska can finally get that bridge to nowhere LMAO

10:53pm • #10
648,373 Points 80 Featured Posts Outside Blog

 Chris Horton (Horton's Lawn Care L.L.C.)  There is something for everyone except the taxpayer.  We have the bill for this spending orgy.  Your grand children's children will be paying it...plus the increased taxes that Obama plans to enact as soon as he is in office.

10:55pm • #11
391,657 Points 5 Featured Posts Outside Blog

Jim...good job calling a spade a spade.  Accountabiity and apathy on our part part of the problem. 

11:05pm • #12
648,373 Points 80 Featured Posts Outside Blog

Andrew Mooers | Northern Maine Real Estate / Aroostook County Broker (MOOERS REALTY)   We need to get on the butts of these guys big time!  This is an outrage!  I wonder what most persons that thought this was a good idea are thinking now.

11:09pm • #13
442,839 Points 36 Featured Posts Outside Blog

Jim,

Government spending is the cornerstone of liberal politics!!! Thanks,   Fran

11:11pm • #14
648,373 Points 80 Featured Posts Outside Blog

Fran 'The Title Man' Gaspari Title Insurance-PA & NJ (Patriot Land Transfer, Inc.) A lot of this comes from the party claiming they want more change.  I am now thinking they are after the loose change that is left in our pockets!

11:16pm • #15

I was watching the vote, praying that it would be a nay, like it was before.  Just because they dressed it up and put lipstick on it and fattened it up did not change the fundamental reason for this bill and the vote should have stood in the House.  It just shows that adding all that sugar for those special interests will do in help changing their minds. I sometimes wonder in whose best interest are they working. It sounds like it is definitely time for some serious house cleaning.

11:18pm • #16
648,373 Points 80 Featured Posts Outside Blog

 Christine Deveau (Prudential Page Realty)  We need to really clean house.  They will be back for more in a few weeks after they run out of this money!

11:19pm • #17

The initial Paulson-sponsored response was a true "bail-out", with no oversight or accountability and consisted of a few sparse pages of directives.  No wonder it was rejected last Monday; and most of the objections came from Republicans who felt it was Socialism.  The revised bill, while also a stinker and loaded with garbage, is meant to restore confidence back into the crredit market. Plain and simple.  This may buy time in order for a more thorough and thoughtful plan of action to be devised.  The previous plan was a knee-jerk reaction presented to the people by the government when the county was faced with a crisis.  Much like the Patriot Act that was rammed through during a time of fear and doubt.  This time Congress had the presence of mind to consider past actions and both sides of the aisle used common sense in rejecting the first plan.  It may stink, but the alternative of doing nothing may be far worse.

11:20pm • #18

Jim, that's what I'm afraid of.  I think they should have let business take care of business and leave the taxpayers out of it.  If it was so bad for some then they should be establishing a protocol and deal with each instance on a case by case basis.  I think this is going to take trillions of dollars to fix if that is what they feel they have to do, or they can let nature run its course, and let Americans do their thing.  There are better ways to go about this rescue and better ways to spend the taxpayer's money.  Hopefully with more time to think they will come up with a better plan.  I think today just put a pressure bandage on a major bleed.  They have not addressed the core issues of this problem.

11:34pm • #19
648,373 Points 80 Featured Posts Outside Blog

Peter Di Eduardo (ReMax Properties Unlimited)  You are right that it is easy to get persons to do what you want - once you pump them up with fear.  Our representatives were the same men sitting on these committees all these years.  What were they doing?  Texting?  Like the guy supposedly was on the train?  They claim Nero fiddled while Rome burned, our representatives were hard at work taking billions out the back door of the treasury.  Do you realize this is about 400K per person in this country?  That is this week.  That is on top of the money from the Wall Street Bailouts, AIG, Fannie Mae and Freddie Mac.  So when will it be enough?  Or are they just stealing from you, and your grand children because they know we will do nothing.  Too late now.  We surrendered the USA without a shot to the Federal Reserve!

11:34pm • #20
648,373 Points 80 Featured Posts Outside Blog

Christine Deveau (Prudential Page Realty) Notice how they did not repeal NAFTA?  Notice how no one ever gave Ross Perot credit for telling the truth about how all the jobs would be lost in this country?  They did not help the folks with Katrina.  No one is even talking about the devastation in Texas from IKE. What makes you think this crisis is any different?   Well this is our Katrina.  Do not expect anythign but hot air from DC.  Think of all the other issues that have come bofore this one.  What about closing the borders, and building that border fence?  7 years after September 11, 2001 illegal aliens and tons of illegal drugs flow freely across the border.

The answer is Congress will not fix anything, because they know we will not do anything!

11:43pm • #21
121,872 Points 1 Featured Post Localism Sponsor

I guess you have to compromise and take the good with the bad.  It seems to get the good stuff to pass, you have to put up with the other side of the aisle and the "junk" they have to throw in for "their people", in order to get their vote.  That is the frustrating side of politics...and we think our job is hard!

11:44pm • #22
648,373 Points 80 Featured Posts Outside Blog

Pat Tasker (Shorewest Realtors)  Substance of character means we do not change our standards to conform to the will of others.  Some persons cannot say no to temptation. They should not be in office.  Apathy has gotten America to this point.  There is no way that your great grand children to pay off this debt.  It is that big, but the lies were bigger.

There are lessons to be learned in the way we all grow up.  We learn values, morals, and lessons.  Some never learn from the lessons even if we had a bad experience.  This is wrong, manipulative, and it is evil.  There are people in this world that went to their death thinking it impossible  for government to be evil and that their government was really benevolent.  It is up to us as members of society to stop and question government.  We need to demand answers, investigations, and prosecutions where wrongdoing has been identified.

11:55pm • #23
OCT
04
2008
422,747 Points 15 Featured Posts Outside Blog

Jim:  They forgot something.  They should have extended the "bridge to nowhere" so that it reached all the way to Russia so Ms Palin could enhance her foreign relations knowledge.

12:45am • #24
648,373 Points 80 Featured Posts Outside Blog

Fort Worth Real Estate - - - Karen Anne Stone (RE/MAX Trinity)   It seems Congress couldn't ask for anymore...they ran out of time, and hte truck was full.  They'll have to come back for more loot after they unload this truckload.

12:55am • #25
Localism Sponsor

Amazing how this liberal controlled house and senate, stuff every bill with so much pork it makes the Karen look skinny!  Everyone of them need to be out of the house and senate starting with the vote on Nov. 4th!

I'm thinking Sarah Palin doesn't need too much foreign relations knowledge right out the gate.  Maybe Barack Obama needs a little experience hanging out with some non-terrorists.

 

2:43am • #26
422,747 Points 15 Featured Posts Outside Blog

Cameron:  How nice of you.  Yawn...

4:59am • #27
613,606 Points 95 Featured Posts Localism Sponsor Outside Blog Hit Router

I have a total lack of respect for the conservatives who didn't stand tall during this time. Jim, you are right, this was a band-aid on a bleeding wound. Your right we just handed over our freedoms without firing a shot.

5:31am • #28
146,455 Points 7 Featured Posts Outside Blog

Jim,

Thanks for the post. Makes you wonder what could these people possibly be thinking?

7:43am • #29
417,036 Points 74 Featured Posts Outside Blog

Jim,

I'm very confused with the whole thing and what and who it will benefit..I have my own thoughts on it but I'm still not sure....I guess it doesn't matter because were at the mercy of whatever the decision is anyway and I doubt they are going to change it...tweak it maybe..change it no

8:31am • #30
648,373 Points 80 Featured Posts Outside Blog

Missy Caulk Ann Arbor Realtor Ann Arbor Real Estate (Keller Williams Ann Arbor)  What was sad was no sooner was the Bill signed Harry Reid starts talking about another insurance company failure.  More money Harry?

8:38am • #32
648,373 Points 80 Featured Posts Outside Blog

Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates)  We are only at their mercy if we let them.

Evil happens when good people do nothing!

8:42am • #34
5 Featured Posts

Jim what can I add.....except that the most of the guys who pushed this thru were lame duck and weren't in danger of being re elected anyway...that was what I heard on one show...any comments?????

8:46am • #35
110,832 Points

Jim, in the popular cliche......Ya THINK?!!!

150 billion in additonal pork to get a piece of legislation through? Smells like bad meat to me!

Bo

9:23am • #36
208,447 Points 19 Featured Posts Outside Blog

We should know by now that the government causes as many problems as it solves.  Investor's Business Daily and the Wall Street Journal have had a number of articles that show how the government contributed to this mess from accounting rules that restricted lending capital to the patchwork regulation of lender to loosening of credit standards to promote minority homeownership and ownership of homes by the poor.  When will we learn that the government intervention often has unintended consequences and often creates as many problems as it solves.

 In the drive to promote homeownership (which is a worthy goal), they set the rules of the game that encouraged lax lending practices.  Why should FannieMae create a system that doesn't require any investment by the borrower?  That is, with no money down there is no incentive not to walk away from a mortgage and a property.  PMI should be mandatory.  Maybe it would have spread the default risk to private insurance companies and not the taxpayer. 

The good news is that the market is taking care of this issue.  The last survey of senior loan officers show that credit and lending standards have tightened.  It's about time - the only problem is that the pendulum will swing back because the message we are sending is that the government will be there to bail you out even if you made bad lending decisions, had loose underwriting standards, and were willing to lend to anyone.

9:23am • #37

Ugh. Pain. In my head.

It hurts in a lot of places... my future, my sense of justice, my wallet.

9:48am • #38
648,373 Points 80 Featured Posts Outside Blog

Mike Norvell Sr., Developers Capital Realty (Developers Capital Realty, LLC)  Vote out the crooks where ever possible.  Too bad, my Republican senators voted for it.  Senator Chambliss is up for re-election, and I am not voting for him.  I will abstain on his vote.

My Congressman voted against it.  His name is Tom Price.  He is a great man!  I would lay down my life defending him.  He is really a true patriot.  Doing the right thing, is not always the popular thing.

10:41am • #39
102,782 Points 6 Featured Posts Localism Sponsor

I was apalled at this latest passage. I understand they needed to do something, but another part of me thinks that the only way we will get some real positive change and growth among our leaders, and in our economy, is if we suffer through a few more years of pain and market cleansing to start over.

11:43am • #43
648,373 Points 80 Featured Posts Outside Blog

Team Carroll, Cranford,Westfield NJ Area Real Estate Professionals (Team Carroll - RE/MAX Classic Group)   We need to stop calling these people "Leaders!"  They are "Blood Sucking Leeches!"  It will be more than a few years to get back back on our feet.  When a government borrows it forestalls growth.  Taxes, inflation will be worse!

11:55am • #44
269,117 Points 2 Featured Posts Outside Blog

I will only vote for the bill if I can get my people taken care of.  I hate these jerks.

12:55pm • #45
648,373 Points 80 Featured Posts Outside Blog

John Walters (Specialized Real Estate)  They are big jerks with big powers.  George Washington, and our founding fathers would be rolling in their graves!  In retrospect, England looked more like a gentle benefactor than the creeps that are running the show here now!  It is the "Tyranny within" that is the threat to the USA!  remember this on election day!  I will not miss voting this year for nothing!

1:01pm • #46
Localism Sponsor

The whole thing stinks up the place.  Did you see how happy the Dems were after the house passed the bill?  A little too happy if you ask me!  They should have included a free jar of Vasoline for each tax payer.

1:03pm • #47

Don't just vote out the incumbents, but make sure the new candidate will REPEAL this measure. Yes, repeal this sellout of America ASAP. Then start cleaning house... fire Paulson, disgorge Wall Street executives pay/bonus involved in subprime/alt-a, modify Mark To Market accounting rules,  balance the budget, etc.

The bailout is more than just a sellout, you are looking at the future collapse of the dollar and 20% annual  inflation from what is just the first of many "have to do it this week" financial emergencies being fed to congress. We should be organizing marches on Washington now, before things get crazy.   

Phil
8:05pm • #48
110,335 Points 26 Featured Posts Localism Sponsor Outside Blog

What would a Bill be without earmarks, Jim, we wouldn't even recognize it lol.  Some of them make sense, most have no business being attached to it, but we shouldn't be surprised.  I added this to one of my posts, thanks for listing them! And it's nice to meet you in The Rain.

8:52pm • #49
648,373 Points 80 Featured Posts Outside Blog

David Slavin, ABR, SRES RE/MAX Grand, Katy, TX (RE/MAX Grand)  They were overjoyed!  Harry Reid could not wait to get in front of the cameras and talk about a coming major failure in the insurance industry.  I wish he would stop smiling with bad news.

9:12pm • #50
648,373 Points 80 Featured Posts Outside Blog

Carole Cohen Realtor®, ePRO (Howard Hanna Cleveland City Office)   The problem is they take an oath of office to defend the country and the American people.  It is not about serving self, and selfish interests.  This was countless billions, and it was wrong.

9:14pm • #51
648,373 Points 80 Featured Posts Outside Blog

Phil  Thanks Phil, you always do get it.  Most Americans are waiting for things to pick up in the spring.  They will not.  There is a story I was reading in Europe this morning, and referring to a bailout, and the economies getting back on track.  The problem is on borrowed money, it will take that much longer to trun things back around.  It is sort of like working and paying off the incurred debt first.  Why does the American citizen not get this?  It is no different than a first mortgage getting a priority for repayment.

I also agree, that Paulson needs to go! I like your idea of replacing the incuments with representatives that would repeal this crap.  It's great.

9:20pm • #52

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Jim Crawford ~ Atlanta Real Estate-ABR E-PRO

Atlanta, GA

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RE/MAX Greater Atlanta

Address: REMAX Greater Atlanta, 1585 Holcomb Bridge Road, Roswell , GA, 30076

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