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	<title>Chasing the Wind &#187; United States Department of the Treasury</title>
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		<title>Bailouts and Earmarks</title>
		<link>http://chasingthewind.net/2008/10/01/bailouts-and-earmarks/</link>
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		<pubDate>Wed, 01 Oct 2008 16:09:06 +0000</pubDate>
		<dc:creator>Michael</dc:creator>
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		<guid isPermaLink="false">http://chasingthewind.net/?p=1812</guid>
		<description><![CDATA[As we all know by now, Congress failed to pass the Bailout Bill on Monday for $700 billion (a number, apparently, the US Treasury just made up). If they pass it, they saddle taxpayers with the debt and socialize the banking system. If they don&#8217;t pass it, they tell us civilization will end as we [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=chasingthewind.net&#038;blog=26139&#038;post=1812&#038;subd=chasingthewind&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><img alt="" src="http://archery.maupa.org/item/main_image_path/115/IMG_5943.jpg" title="Wooden Arrows" width="102" align="left" height="136" />As we all know by now, Congress failed to pass the Bailout Bill on Monday for $700 billion (a number, apparently, the <a class="zem_slink" href="http://www.ustreas.gov/" title="United States Department of the Treasury" rel="homepage">US Treasury</a> just made up).  If they pass it, they saddle taxpayers with the debt and socialize the banking system.  If they don&#8217;t pass it, they tell us civilization will end as we know it and we enter the Next <a class="zem_slink" href="http://en.wikipedia.org/wiki/Great_Depression" title="Great Depression" rel="wikipedia">Great Depression</a>.</p>
<p>Are those the only two options?  Great Depression versus Socialism?</p>
<p>So what was wrong with version of the bailout that didn&#8217;t pass?  Tonight, Congress will attempt to pass a <a href="http://senateconservatives.files.wordpress.com/2008/10/ayo08c32_xml.pdf">revised version</a>, so let&#8217;s see what they added (<a href="http://hotair.com/archives/2008/10/01/senate-bailout-bill-hits-the-internet/">via</a>)-</p>
<blockquote><p><strong>New Tax earmarks in Bailout bill</strong><br />
- Film and Television Productions (Sec. 502)<br />
- Wooden Arrows designed for use by children (Sec. 503)<br />
- 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)</p>
<p><strong>Tax earmark â€œextendersâ€ in the bailout bill</strong>.<br />
- <a class="zem_slink" href="http://en.wikipedia.org/wiki/Virgin_Islands" title="Virgin Islands" rel="wikipedia">Virgin Island</a> and Puerto Rican Rum (Section 308)<br />
- <a class="zem_slink" href="http://maps.google.com/maps?ll=-14.3,-170.7&amp;spn=0.1,0.1&amp;q=-14.3,-170.7%20%28American%20Samoa%29&amp;t=h" title="American Samoa" rel="geolocation">American Samoa</a> (Sec. 309)<br />
- Mine Rescue Teams (Sec. 310)<br />
- Mine Safety Equipment (Sec. 311)<br />
- Domestic Production Activities in <a class="zem_slink" href="http://maps.google.com/maps?ll=18.23,-66.0&amp;spn=0.1,0.1&amp;q=18.23,-66.0%20%28Puerto%20Rico%29&amp;t=h" title="Puerto Rico" rel="geolocation">Puerto Rico</a> (Sec. 312)<br />
- Indian Tribes (Sec. 314, 315)<br />
- Railroads (Sec. 316)<br />
- Auto Racing Tracks (317)<br />
- <a class="zem_slink" href="http://maps.google.com/maps?ll=38.8951111111,-77.0366666667&amp;spn=0.1,0.1&amp;q=38.8951111111,-77.0366666667%20%28Washington%2C%20D.C.%29&amp;t=h" title="Washington, D.C." rel="geolocation">District of Columbia</a>  (Sec. 322)<br />
- Wool Research (Sec. 325)</p></blockquote>
<p>Ah.  Obviously, Socialized Banking will be much more palatable if we buy more Puerto Rican rum.  American <a class="zem_slink" href="http://maps.google.com/maps?ll=-13.8333333333,-171.75&amp;spn=10.0,10.0&amp;q=-13.8333333333,-171.75%20%28Samoa%29&amp;t=h" title="Samoa" rel="geolocation">Samoans</a> and Indian Tribes who will be receiving earmarks will be happy to know that Puerto Rican rum will be cheaper.  And Nascar, while they didn&#8217;t get beer subsidies, got some help with <a class="zem_slink" href="http://en.wikipedia.org/wiki/Auto_racing" title="Auto racing" rel="wikipedia">auto racing</a> tracks.</p>
<p>I think, though, we can all breathe a sigh of relief that there are now earmarks for wooden arrows designed for use by children.   I assume that the children from <a class="zem_slink" href="http://en.wikipedia.org/wiki/Indian_tribe" title="Indian tribe" rel="wikipedia">Indian tribes</a> will be provided with wooden arrows and Puerto Rican rum, then told to drive around a race track and shoot each other while drunk.  There&#8217;s money in there, too, for Film and Television to make it into a movie.</p>
<p>That alone justifies eliminating capitalism and socializing the western banking world.  The bill should pass now.</p>
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