Our government at work -- the bailout bill
Talk about a creeping meatball.
From
Politico:
Senate bailout bill keeps growing
The Senate hopes to revive Treasury�s $700 billion financial rescue plan Wednesday night by packaging it together with more than $100 billion in popular tax breaks as well as aid to rural schools important to House Republicans.
To calm voters fearful of bank failures, the $100,000 cap on federal insurance for deposits would also be raised to $250,000�a concession backed by both parties but also aimed at community banks who can be helpful in building small town support for the larger bill.
With each permutation, the bill has steadily grown in size. Treasury�s initial plan was about three pages long. The House version, which failed, stretched to 110. The Senate substitute now runs over 450 pages. And tucked away in the tax provisions is a landmark health care provision demanding that insurance companies provide coverage for mental health treatment�such as hospitalization�on parity with physical illnesses.
And
Congressional Approval Rating is now what -- 15% to 22% depending on the pollster.
Wonder why...
Posted by DaveH at October 1, 2008 12:38 PM