Wednesday, December 21, 2005
I Hate You Ted Stevens!
Today the Senate has a very hard decision to make. They have to vote on a $453.3 billion defense bill handed to them by the House of Representatives. Of this, $29 billion was for a hurricane recovery package. But Senator Ted Stevens (R-Alaska) at the last minute attached a controversial provision to allow drilling for oil in the ANWR (Arctic National Wildlife Refuge). Thus, it seems that the defense bill and hurricane relief, two things which would have easily passed, are now in jeopardy of failing. Also, just when it looked like it would pass Congress, the Baker Bill which would have helped avert thousands of mortgage foreclosures failed due to opposition from the White House and banking lobbies. Basically the plan put forth by Richard Baker (R-Baton Rouge) would have formed a corporation that would have bought hurricane/flood damaged property, and in the end people would have received about 60% of their lost equity. Without it many people, including us, are considering faulting on our mortgage as an option, leaving us with very bad credit. What looks like it will pass the Senate easily is a $39.7 billion budget cut, reducing student loans, cutting Medicare and Medicaid, and making pensions less secure. Merry Christmas America. I wonder if I would like this crowd better if I were rich?