May

15

Stop The Housing Bailout!

May 15, 2008 | By PA Pundits |

Bloggers - please help FreedomWorks take down Senate bailout bill
From Nan E. Swift Campaign Coordinator FreedomWorks (202) 942-7675

Housing Bailout Moves Forward in Congress

Last Thursday the 266-154 to advance a $300 billion program of taxpayer-financed mortgages to home speculators and their lenders.

The bill does not protect taxpayers. The bill gives six-figure taxpayer loans to people who have terrible credit scores and to people who have made fewer than 12 payments on their existing mortgages. The bill even provides these taxpayer handouts to non-citizens. The plan lets banks cherry-pick the worst loans in their portfolios and sticks taxpayers with 100 percent of the risk.

However, our “” campaign is making a difference and the opposition is growing to this bailout plan. Renters and responsible homeowners are the “forgotten man” of this debate, as of Florida put it in his speech on the House floor. (< click on Tom Feeney to see video)

Can you help spread the news about this legislation so we can stop it?

On Tuesday President Bush came out strongly against the bill, saying “First of all, we are committed to a good housing bill that will help folks stay in their house, as opposed to a housing bill that will reward speculators and lenders. I will veto the bill that’s moving through the House today if it makes it to my desk.”

Even though the bailout bill passed the House, it was not by margins large enough to override the president’s veto.

This week the battle turns to the U.S. Senate.

There, Senator Bunning of Kentucky is leading the charge against a flipper bailout in the Finance Committee. Senate rules make it easier to offer amendments, so we should see greater debate about the risky and unfair aspects of the bill.

FreedomWorks has identified five key senators as targets on the housing bailout bill. Please take a moment to call them and urge them to oppose this flawed piece of legislation.

Sen. Dole: 202-224-6342
Sen. Bennett: 202-224-5444
Sen. McConnell: 202-224-2541
Sen. Bayh: 202-224-5623
Sen. Carper: 202-224-2441

This is a great opportunity to encourage your friends to get involved. These issues affect everyone and a robust opposition has the power to do great things. Ask your friends to sign the , and to join you in calling their senator.

Farm Bill Fiasco

Another disgraceful Congressional idea is the wasteful and redistributive farm bill. Here is an excerpt from an article on the farm bill by FreedomWorks Chief Economist Dr. Wayne Brough.

Despite a record $175.5 billion in crop production, with the price of all major crops continuing to rise, Congress is seeking to expand subsidies for farmers.

In fact, the bill now pending in Congress would allow married couples with an adjusted gross income of $1.5 million to receive subsidies from the government, and even individuals who are not full-time farmers would be eligible for subsidies with an adjusted gross income of $500,000!

The White House has suggested a lower cap of $200,000, which is still more than four times the median household income in the United States.

Read more >

Help us hold the politicians accountable as they consider economically harmful ideas like the mortgage bailout and the farm bill.

Sincerely,

Dick Armey
Chairman
FreedomWork

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Filed Under: 110th Congress, Dhimmicrats, PA Pundits, President Bush

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Comments

2 Comments so far

  1. Col. Ted Westhusing on May 16, 2008 2:32

    As the U.S. is about to attack Iran, it is the absolute responsibility of everybody in uniform to disobey an order that is either illegal or immoral, including the use of weapons of mass destruction. They cannot commit crimes against humanity.

    As the U.S. government taxes, spends, borrows, regulates, mismanages, and wastes resources on a scale never before witnessed in the history of mankind, it is digging its own grave; Many believe we’re past the tipping point and it’s too late.

    Sniper One: It is obivious that you are not actually a Col. in the Army. If you were, you would have a clue. You sir, are a clueless idiot. No Col. that I know would undermine the chain of command in such a way. Go Troll Elsewhere, your 15 minutes are up.

  2. PA Pundits on May 18, 2008 0:52

    I decided to google Col. Ted Westhusing. Apparantly he died June 5, 2005.
    http://en.wikipedia.org/wiki/Theodore_S._Westhusing
    Perhaps this is an idiot from Huffington Post or Kos?
    –ed

    Sniper One: That seems far more likley than us being contacted from beyond the grave. Besides, I’m sitting in Baghdad, and I haven’t heard jack or shit about us doing anything to Iran. You would think there would be a troop build-up or something if that was the case.

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