Senate Banking Committee Chairman Christopher Dodd said the Obama administration asked him to insert a provision in last month’s $787 billion economic- stimulus legislation that had the effect of authorizing American International Group Inc.’s bonuses.
Dodd, a Connecticut Democrat, said yesterday he agreed to modify restrictions on executive pay at companies receiving taxpayer assistance to exempt bonuses already agreed upon in contracts. He said he did so without realizing the change would benefit AIG, whose recent $165 million payment to employees has sparked a public furor.
What a lying sack of ...(you fill in the blank).
Meanwhile, Mustang has an interesting solution that may help global warming. My wish is that we pilot it in Washington DC first, to see if expanding the program worldwide would be of any benefit. If not, then we'll know he wasn't having one of his more lucid moments, when he wrote this.
I have to say, it does look good on paper. But if it can't work in DC, it can't work anywhere and we'll have to scrap it. Of course it might work in DC, but but once we realize that DC was the problem to start with, we may want to scrap it anyway. Oh well, see what you think.
4 comments:
And have you seen the forcasted budget deficit?
http://tinyurl.com/clnx8q
"In a new report that provides the first independent analysis of President Obama's budget request, the nonpartisan Congressional Budget Office predicted that the administration's agenda would generate deficits averaging nearly $1 trillion a year over the next decade -- $2.3 trillion more than the president predicted when he unveiled his spending plan just one month ago."
"But other Democrats are not necessarily ready to follow Conrad's lead. At her weekly news conference on Thursday, House Speaker Nancy Pelosi dismissed the expectation of bad news from CBO, the official budget scorekeeper for Capitol Hill, saying differences between that agency and the White House budget office are "not unusual."
In Denial? or just normal operating procedures for the Dems when they get their hands on the money
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In just two months our new President has already shot the wad so to speak so that your kid and your kids kids and maybe your kids kids kids will be paying for this until the second coming.
Don't be surprised to see a tax increase within the next two years.
//Don't be surprised to see a tax increase within the next two years.//
Believe me...it is at the point where very little would surprise me.
Here's the thing:
The only ways to close a deficit is to cut spending, increase taxes, or both. We know that Dems will never cut spending, so that leaves a tax increase. Even at that, it's not a given that the deficit will close. You can't pay a credit card down by just making the minimum payment listed on the statement.
Have you seen the story about Obama's special envoy Richard Holbrooke? He was on the board of AIG back when the bonuses were approved.. unbelievable. Or not.
AC,
When Obama picks a bunch of tax cheats to serve under him and advise him, after Biden told us all how patriotic it is to pay taxes, how can anything surprise us now?
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