Friday, February 6, 2009

Senate DELAYS Debate of 780 Billion Stimulus Bail Out Deal

Senate stimulus bill may be delayed due to partisan fighting

President Obama

President Obama

The stimulus bill fails bring in a payday for those who need to be bailed out. The bill failed to pull the two halves of the senate together in a shocking defeat of President Barak Obamah’s promise of bipartisan cooperation.

The Senate is debating the stimulus bill in a heated fashion that has forced parties to vote down party lines. The Senate’s failure to come together in an unprecedented manner is not shocking for those who have participated in politics for any number of years.

US Senators fight over tax cuts

Republican Senators argue that more tax cuts need to be added to the bill and big business does not need a unwarranted payday at tax payers expense. Republicans claim that cutting payroll taxes is the fastest way to stimulate the economy and not giving billions to failing financial institutions. Republican Senators are trying to convince Democrats that making the task of hiring employees cheaper for businesses will save jobs and create new jobs.

Congress likely to bail out worthless debts

Billions of dollars are going to practically disappear when they go to pay debt holdings that do not directly connect with the American economy. Many debts are owed to people, businesses, and countries that are not located in the United States. Once the money is given to the elusive financial institutions likely non-US debt holders will cash in their financial instruments and use the money for alternate interests. This will be the biggest payday ever at the expense of taxpayers. ... click here to read the rest of the article titled "Senate DELAYS Debate of 780 Billion Stimulus Bail Out Deal"

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