There is lots of chatter today about how Sen. John McCain squashed the soon-to-pass bail out plan. (So much for the Dems. calling him Bush 3)**

Hmm, the Democrats are in the majority, why don't they just pass it on their own?*

Because they don't have the votes in their own party.

Truth is, the bail out bill the media said was near passing, was NOT anywhere near approval. House Republicans were not consulted on the Paulson bail out bill.

In addition, Senator Lindsey Graham was on Fox last night and explained that part of the bail out money would go to ACORN! From Hot Air:

House Republicans refused to support the Henry Paulson/Chris Dodd compromise bailout plan yesterday afternoon, even after the New York Times reported that Treasury Secretary Henry Paulson got down on one knee to beg Nancy Pelosi to compromise.  One of the sticking points, as Senator Lindsey Graham explained later, wasn’t a lack of begging but a poison pill that would push 20% of all profits from the bailout into the Housing Trust Fund — a boondoggle that Democrats in Congress has used to fund political-action groups like ACORN and the National Council of La Raza

Would you want that to pass? 

Most Americans are not in favor of a bail out. Most Republicans do not favor a bail out. Newt Gingrich has not favored a bail out to save our economy. (Emphasis mine) 

Newt Gingrich:  Well, the last time we were promised they were going to save us, it was $300 billion; it was a housing bill.  And what liberal Democrats in Congress did, for example, was add $500 million a year for a left-wing activist group called Acorn.  Now, I can’t imagine why we’d want the taxpayer to give $500 million a year to a left-wing activist group, but it’s in the bill which the Bush administration signed and that was only back in July and that was going to solve everything.  That was $300 billion ago.

Now we have a brand-new, liberal Democrats, many of whom, for example, Chris Dodd, was the largest single recipient of money from Fannie Mae and Freddie Mac and he is the chairman of the Banking Committee.  So the guy who got the most money is now going to write a bill to give taxpayers money to the people who gave him money.  Somehow, I am not reassured.

The House GOP (Republicans) have presented a plan of their own. It is more of a Work Out than Bail Out. Gingrich also favors a Work Out that would include borrowing at 2% not bailing.

I may just be a Home Economist, but I know we need to do something. If the average American was in better financial shape, not carrying around $8,000 debt on their credit card and not one paycheck away from financial disaster, I might be inclined to just tough it out.  

Gingrich recommended that Republican leaders like Boehner, DeMint, Shelby, and McCain meet to put together a proposal Americans will support. Then the people will put the pressure on the Democrats in Congress to pass it, much like public pressured Congress to drill for domestic oil. But since Harry Reid just stuck a ban on domestic oil shale drilling onto an appropriations bill, while this crisis is going on, so much for listening to the will of the people and doing what this country needs.

Heaven help us. I mean that literally.

Read more: Market Rescue Dos and Don'ts  from the Heritage Foundation

*Observation courtesy of Nick Reed interjecting on the Jay Weber show this morning. 

**Observation by a caller on Rush's show today. (The car radio does make running errands more tolerable!) 

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

Links: 

Oh, I am getting so tired of all this watchdogging, calling, and emailing our officials, but the alternative is to let these bad bills pass. This one is not just about a huge amount of money; our national sovereignty is at stake.

For those of you who think Barack Obama does not have much of a record to run on, his Global Poverty Act bill ought to tell you a lot about this young senator.

Vicki McKenna cued her listeners into this unbelievable bill yesterday. (She really does have a nose for news!) She explained, The Global Poverty Act takes .7% of our G.D.P. and sends it to the UN to fight global poverty. She also reminded us that the UN is not a very efficient charity and only sends out about 5 cents from every dollar received--not to mention their bad track record on plans such as Oil for Food.

This estimated $845 billion dollars, the .7% of our G.D.P., is in addition to what we already send for foreign aid. This new bill would add up to $1,000,000,000,000 over 15 years. (That is trillion with a T) But the money is the least of our concerns.

Think we don't have to worry about this bill? It will never pass?

Think again.

It already passed the House! According to Glenn Beck, "it already has passed the House mainly because people didn't read it. "

Read the entire Glenn Beck posting. It's chock full of important things to consider before casting your vote for President like: UN Rights of the Child, Kyoto protocol, Convention on Biological Diversity, and spending $210 billion for, in essence, a new kind of WPA project.

This Senate bill 2433 sounds so outrageous, you might think it is an Urban Legend. Sadly, it is not.

Family Research Council posted this: (Direct link unavailable, emphasis added. No, I am not for Huckabee.)

"Less than a day after the President agreed to put more money in taxpayers' pockets, the U.S. Senate is attempting to take some of those dollars back. The Global Poverty Act, while seemingly charitable and big-hearted, sounds nicer than it really is... 

"...In addition to surrendering more dollars, the U.S. would also be required to surrender some of its own sovereignty over foreign aid by putting it under UN control. The bill would force the U.S. to sign onto the U.N.'s Millennium Declaration, which would commit us not only to "banning small arms and light weapons," but also to ratifying a series of objectionable treaties such as the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW), the International Criminal Court Treaty, the Kyoto Protocol (global warming), the Convention on Biological Diversity, and so on. Considering the magnitude of the legislation, one would think that the Senate would proceed with caution. Not so!...

That posting concluded with: "Unreal. If that does not scare you, I don't know what will. Take action to stop this bill now." 

I couldn't agree more. 

Our own dear Senator Russ Feingold was a cosponsor too, but call or email his office anyway. 

This bill was steamrolled through the Senate committee without hearings. 

Contact our Senators: (IF you know people in other states, tell them to contact their Senators too.)

Kohl Contact page: http://kohl.senate.gov/gen_contact.html   Phone: (202) 224-5653, (414) 297-4451

Feingold  senator@feingold.senate.gov  Phone: (414) 276-7282, (202) 224-5323

Tell them to oppose S.2433, The Global Poverty Act of 2007