Bailout Summary

SENATORS ON SALE
Republicans reaching a compromise (2/6/2009):
Collins .......call her:(202) 224-2523
Snowe .......call her:(202) 224-5344
Specter .....call him (202) 224-4254

Send email and contact other senators as well: contact info.
(H/t: MichelleMalkin.com)


STIMULUS=SPENDING?
OBAMA NEEDS A DICTIONARY (2/5/2009)
The root of the problem with this "Stimulus" bill is that Obama thinks that stimulus equals spending. Ah?
How much money will government spend if they issue tax cuts for businesses and consumers!!!!!

Here is the "illuminated" Obama (go to minute 7:30)


Can someone give a dictionary to Obama? And not a marxist dictionary, pleeeasssee!

PS: Did you notice Obama's derisive & contemptuous attitude towards the opposition. Didn't he promise bi-partisanship, humility, new era of politics?

Is Obama turning into Howard Dean?


COJONES BACK IN GOP. THANK YOU!
BRIBE BILL PASSES THE HOUSE. OBAMA GETS A PARTISAN VOTE.
All Republicans & 11 Democrats voted in a bi-partisan way....AGAINST IT!

HOUSE BILL INFO H.R.1
Status 1/28/09:--Passes the House, 244-188 (with 1 not voting)
Short Name:-----American Recovery and Reinvestment Act of 2009
Nickname:-------“Stilumus”, Generational Theft Act of 2009, Porkulus, Bribe
Official Title:----Making supplemental appropriations for job preservation and creation, infrastructure investment,
----------------------energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for fiscal year
---------------------------- ending September 30, 2009, and for other purposes.

REPUBLICANS WHO VOTED 'NO':
Contact them to say thank you: (202) 224-3121 or email
Robert Aderholt, Todd Akin, Rodney Alexander, Steve Austria, Michele Bachmann, Spencer Bachus, J. Gresham Barrett, Roscoe Bartlett, Joe Barton, Judith Biggert, Brian Bilbray, Gus Bilirakis, Rob Bishop, Marsha Blackburn, Roy Blunt, John Boehner, Jo Bonner, Mary Bono, John Boozman, Charles Boustany, Kevin Brady, Paul Broun, Henry Brown, Vern Buchanan, Michael Burgess, Dan Burton, Steve Buyer, Ken Calvert, Dave Camp, John Campbell, Eric Cantor, Anh Cao, Shelley Moore Capito, John Carter, Bill Cassidy, Michael Castle, Jason Chaffetz, Howard Coble, Michael Coffman, Tom Cole, Michael Conaway, Ander Crenshaw, John Culberson, Geoff Davis, Nathan Deal, Charles Dent, Lincoln Diaz-Balart, Mario Diaz-Balart, David Dreier, John 'Jimmy' Duncan, Vernon Ehlers, Jo Ann Emerson, Mary Fallin, Jeff Flake, John Fleming, Randy Forbes, Jeff Fortenberry, Virginia Foxx, Trent Franks, Rodney Frelinghuysen, Elton Gallegly, Scott Garrett, Jim Gerlach, Phil Gingrey, Louie Gohmert, Bob Goodlatte, Kay Granger, Sam Graves, Brett Guthrie, Ralph Hall, Gregg Harper, Doc Hastings, Dean Heller, Jeb Hensarling, Wally Herger, Peter Hoekstra, Duncan Hunter, Bob Inglis, Darrell Issa, Lynn Jenkins, Sam Johnson, Tim Johnson, Walter Jones, Jim Jordan, Peter King, Steve King, Jack Kingston, Mark Kirk, John Kline, Steven LaTourette, Doug Lamborn, Leonard Lance, Tom Latham, Robert Latta, Christopher Lee, Jerry Lewis, John Linder, Frank LoBiondo, Frank Lucas, Blaine Luetkemeyer, Cynthia Lummis, Daniel Lungren, Connie Mack, Donald Manzullo, Kenny Marchant, Kevin McCarthy, Michael McCaul, Tom McClintock, Thad McCotter, Patrick McHenry, John McHugh, Buck McKeon, Cathy McMorris Rodgers, John Mica, Gary Miller, Candice Miller, Jeff Miller, Jerry Moran, Tim Murphy, Sue Myrick, Randy Neugebauer, Devin Nunes, Pete Olson, Ron Paul, Erik Paulsen, Mike Pence, Thomas Petri, Joe Pitts, Todd Platts, Ted Poe, Bill Posey, Tom Price, Adam Putnam, George Radanovich, Dennis Rehberg, David Reichert, Phil Roe, Mike Rogers, Hal Rogers, Mike Rogers, Dana Rohrabacher, Thomas Rooney, Ileana Ros-Lehtinen, Peter Roskam, Edward Royce, Paul Ryan, Steve Scalise, Jean Schmidt, Aaron Schock, Jim Sensenbrenner, Pete Sessions, John Shadegg, John Shimkus, Bill Shuster, Michael Simpson, Lamar Smith, Christopher Smith, Adrian Smith, Mark Souder, Cliff Stearns, John Sullivan, Lee Terry, Glenn Thompson, Mac Thornberry, Todd Tiahrt, Pat Tiberi, Michael Turner, Fred Upton, Greg Walden, Zachary Wamp, Lynn Westmoreland, Ed Whitfield, Joe Wilson, Robert Wittman, Frank Wolf, Bill Young, Don Young Ginny Brown-Waite


SOURCES:
Roll Call Vote on H.R. 1
Washington Post Database
Today was good day for conservatism



OBAMA, TRILLION-DOLLAR MAN (for now)
STIMULUS (BRIBE) PACKAGE BEING RAMMED BY OBAMA

The new $825 Billion proposal (plus $346 Billion in interest) includes:
More waste:
● $21 million for sod
● $200 million for the National Mall
● $600 million for new cars for the federal government
● $650 million for digital TV coupons
● $6 billion for colleges/universities (many which have billion dollar endowments)
● $50 million in funding for the National Endowment of the Arts
● $44 million for repairs to U.S. Dept. of Agriculture headquarters
● billions of taxpayer dollars to left-wing groups like ACORN
● funding for contraceptives and the abortion industry
--(eugenics-lover Democrat Nancy Pelosi said "contraception will reduce costs to the states and
--to the federal government.")
● $75 million for smoking cessation
More lies:
● only 3% (or $30 billion) of the bill is for road and highway spending
● only 2.7 percent (or $22.3 billion) of the overall package, is for to small business tax relief (smal businesses are the main job providers in the nation)
More fallacies:
● Highway Spending: The Myth of the 47,576 New Jobs
"....before the government can spend $1 billion hiring road builders and pur­chasing asphalt, it must first tax or borrow $1 bil­lion from other sectors of the economy—which would then lose a similar number of jobs. In other words, highway spending merely transfers jobs and income from one part of the economy to another." indicates Heritage
Bills text here:
ReadTheStimulus.org
Searchable text version of Senate & House Bribe Packages


WE CAN'T AFFORD OBAMA:
What the Stimulus Will Cost Working Families


To finance the $825 billion "stimulus" (bribe) package, it will take:


ONE YEAR budget for food, clothing, housing and health care of EVERY FAMILY will be needed

- every family in the United States would be lending the federal government $10,520,

- or each family with children under the age of 18 would lend $22,445.


This money is being borrowed, meaning it will have to be repaid
by either taxing it from future generations or borrowing even more funds.

(Hat tip: “Stimulus” you can’t afford, The Foundry)










GOVERNMENT SPENDING DOES NOT STIMULATE
Why Government Spending Does Not Stimulate Economic Growth
Most government spending has historically reduced productivity and long-term economic growth due to:
1. Taxes. Most government spending is financed by taxes, and high tax rates reduce incentives to work, save, and invest—resulting in a less motivated workforce as well as less business investment in new capital and technology.
2. Incentives. Social spending often reduces in­centives for productivity by subsidizing leisure and unemployment.
3. Displacement. Every dollar spent by politicians means one dollar less to be allocated based on market forces within the more productive pri­vate sector....politicians seize that money and earmark it for favored organizations with little regard for improve­ments to economic efficiency;
4. Inefficiencies. Government provision of housing, education, and postal operations are often much less efficient than the private sector. Government also distorts existing health care and education markets by promoting third-party payers, resulting in over-consumption and insensitivity to prices and outcomes. Another example of inefficiency is when politicians earmark highway money for wasteful pork projects rather than expanding highway capacity where it is most needed.


HISTORY: NEW DEAL = RAW DEAL

source: Heritage, report


HISTORY: TAX CUTS STIMULATE
Why Tax Rate Reductions Are More Stimulative Than Rebates: Lessons from 2001 and 2003

source: report


NOT A CONSENSUS, MR. OBAMA
200 Economists oppose Obama’s Bribe Proposal
More Economists comments in opposition
More analysis against the “Stimulus”


SOLUTIONS
● Heritage
○ Instead of creating higher taxes for families by increasing government spending, policymakers should instead consider extending or making permanent the 2001 and 2003 tax reductions and should reduce individual, small business, and corporate taxes.
○ Extending these tax cuts and further reducing taxes would stimulate job production and increase gross domestic product, thereby improving our economy and shortening the length of the recession.
● The Obama-Limbaugh Bipartisan Stimulus Plan of 2009
Proposed by Rush Limbaugh: "...54% voted for President Obama and 46% voted for Senator McCain. As a way to bring the country together and at the same time determine the most effective way to deal with recessions, under the Obama-Limbaugh Stimulus Plan of 2009, $540 billion of the one trillion will be spent on infrastructure as defined by President Obama and the Democrats. The remaining $460 billion, or 46% that voted for Senator McCain, will be directed towards tax cuts, as determined by me. These tax cuts will consist primarily of capital gains tax cuts and corporate tax rate cuts. …Then we see which stimulus actually works and works the fastest…”

SEMANTICS
Call it stimulus, rescue, bailout...is all the same....BRIBE.



BAILOUTS SO FAR...$8 TRILLION
GOVERNMENT TAKEOVER - TAXPAYERS WILL PAY

click image to enlarge


HOW YOUR MONEY IS BEING SPENT
● Buying future Democrat votes:
○ Acorn's Seed Money (ACORN is the radical group involved in voter fraud and in the housing meltdown)
○ ACORN Watch: Left-wing fraudsters “could get billions” in stimulus money
○ Citi Forks over 1 Million to La Raza
○ Citibank - the Left’s favorite bank
○ Donations to Liberals
○ Struggling Banks Paid President Clinton $2.1 million
--Four major banks, including one that collapsed, two that received federal bailout money and one that filed for bankruptcy
--this past September, paid former President Clinton $2.1 million for 13 speeches:
--Bill Clinton received from:
----Citigroup $700,000
----Goldman Sachs $950,000
----Lehman Brothers $300,000
----Merrill Lynch paid $175,000

● Waste & Scams
UAW Union Bosses Scam the system
Automobile Union Bosses Accused Of Abusing Overtime

● Say What?
Ailing Chrysler wants another $3 billion of your money while underwriting a movie
Chrysler plans to help underwrite the fourth installment of the “Terminator” movie series, “Terminator Salvation,” where it will place its vehicles in cameo roles.

SOURCES
Government Bailout Hits $8.5 Trillion (San Francisco Chronicle)
Bailout Breakdown (CNN)
Bailouts: Growing Debt for Taxpayers
Bailouts: All for Government Expansion
Middle of the night bailout for Bank of America; TARP investigation of BoA and Citigroup/Jesse Jackson event requested
Generational Theft Act of 2009