Thursday, October 02, 2008

Flawed But Necessary Bailout For Wooden Arrows

Just a few weeks ago, one of the people most likely to be on the news was Senator Hillary Clinton. Not many in media ask or seek her views these days. I think she's probably smiling and laughing some with her husband, relieved she's out of the firefight now. She offered these comments Wednesday night as the Senate approved of a $700 billion bailout plan (whoops, they call it a rescue now, my bad.)

"
Tonight we will vote on legislation none of us wish we were considering and none of us can afford to see fail. ... We must act, even as we do so with regret and reservations, because we have little choice."

"We must pursue broader reforms. That is one of the lessons of this turmoil. We cannot continue to shuttle from crisis to crisis."

I like the use of the word "shuttle" - the Bush White House has performed a mash-up of stop-and-go management that has not only become increasingly pathetic to watch but continues to endanger our times.

The 400-plus pages legislation the Senate approved includes funding to the film industry in Puerto Rico and a tax break for makers of "certain wooden arrows designed for use by children".

Economy fixed!

Up next, another episode of the wacky adventures of Sarah Palin and Joe Biden.

Yeesh. Time for some music - Jazz is neither flawed nor unnecessary.


UPDATE: I'm not sure but the Wired article above may have made an error on the Puerto Rican claim, as all I have found so far indicates a tax break for P.R. rum production and other breaks for film production in general. The NY Post offers these other tidbits of additions to the bill:

* Puerto Rican and Virgin Islands rum producers - $192 million.

* Wool research.

* Auto-racing tracks - $128 million.

* Corporations operating in American Samoa - $33 million.

* Small- to medium-budget film and television productions - $10 million.

Another measure inserted into the bill appears to be a bald-faced bid aimed at winning the support of Rep. Don Young (R-Alaska), who voted against the original version when it went down in flames in the House on Monday.

That provision - a $223 million package of tax benefits for fishermen and others whose livelihoods suffered as a result of the 1989 Exxon Valdez oil spill - has been the subject of fervent lobbying by Alaska's congressional delegation.

4 comments:

Newscoma said...

You are a rock star.


Love from the west side, my dear.

OXYMORON said...

Todd Palin made just under $47,000 working in oil production for BP Alaska. The so-called First Dude also pulled in nearly as much in commercial fishing earnings, and topped that off with $10,500 in prize money from the Iron Dog, a grueling Alaska snowmobile race.........................

$223 million package of tax benefits for fishermen and others whose livelihoods suffered as a result of the 1989 Exxon Valdez oil spill - has been the subject of fervent lobbying by Alaska's congressional delegation.

Wonder fi the Palins will pick up any of the breaks from this?

OXYMORON said...

Todd Palin made just under $47,000 working in oil production for BP Alaska. The so-called First Dude also pulled in nearly as much in commercial fishing earnings, and topped that off with $10,500 in prize money from the Iron Dog, a grueling Alaska snowmobile race..............................


223 million package of tax benefits for fishermen and others whose livelihoods suffered as a result of the 1989 Exxon Valdez oil spill - has been the subject of fervent lobbying by Alaska's congressional delegation.

Wonder if the package will be a windfall for the Palin's?

Joe Powell said...

if i recall correctly, this legislation allows for those who received payments for losses to NOT report it as income, therefore - tax free money.

the plan seems to be attracting votes in the House for passage ...