Thursday, October 2, 2008

"New" bailout bill headed to House

Well, the bailout bill passed through the Senate with flying colors. A few changes were made, of course, to sugarcoat and distract people from the real meaning of this bill.
  • $100 billion in tax breaks for businesses and the middle class
  • Raise from $100,000 to $250,000, the cap on federal deposit insurance
  • Provides $8 billion in tax relief for those hit by natural disasters in the Midwest, Texas and Louisiana

These provisions were made to win over Republicans and get the legislation through. This does not deny the fact that the bills main purpose is still to buy up bad debt held by financial institutions. Jim DeMint, a republican Senator from South Carolina said the bill was "leading us into the pit of socialism."

Of course, I was not surprised to see Norm Coleman giving this bill the green card. It is a slap in the face to conservatives of Minnesota, and at a time where he desperately needs their support. We will have to see what happens in the house, and whether or not 'conservative' leaders stand up and reject this legislation that would put a huge burden on taxpayers for years to come.

Also, I have to mention, I like the way David Bartel's thinks:

"I previously was trying to decide between not voting, or figuring out which of the two major candidates is the "worst of two evils". I have since changed my thinking. I have heard about so many people who do not actually like either candidate in this race and yet will end up "settling". But it is because of a mentality like prevents independent candidates from becoming a viable possibility. Perhaps it is not the people who are "wasting their vote" on an independent candidate that we need to be angry about, but those who are allowing a system of two bad choices to continue by supporting one of them."

The power of the people is in one simple, yet so complex, mechanism. That is our vote. I have become more and more convinced that voting is something that I must hold in the highest regard, and i do hold in the highest regard. Your vote is your voice, and it puts power in your hands. We are born with this power, it is not something we had to work for years and years to attain, nor did we have to 'buy' it. We are given this power, yet so many people take it lightly or are apathetic towards it. What I believe must be the mindset is that voters who are not happy with a candidate/Senator/Representative should not vote for them simply because "there is no other viable choice, I have to vote for them or look at this other guy over there." Well what are you expecting? Some big change by voting for someone you are not excited about? Somebody who you show reluctance toward representing you? I just encourage everyone to think about this. Congress has an extremely low approval rating. If you are unhappy, you should not be voting for more of the same, but for ACTUAL change. Voting for "the lesser of the two evils" is not going to bring about change. That is where I stand, and that is why I will be casting my vote for Dean Barkley and Chuck Baldwin this fall.

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