Senate passes $149 BILLION bill for jobless aid, tax breaks

The squandering Senate passed a bill today (62 to 36) that continues numerous existing government policies. The unemployed would see their unemployment benefits and healthcare subsidies extended to the end of 2010. Businesses would again benefit from $25 billion worth of tax breaks that expired at the end of 2009.

According to the squandering Senate the $149 BILLION in new spending is partly offset by $37 billion in revenue raised by closing tax loopholes. This is about the 5th time in two weeks that this mysterious $37 billion has surfaced. Grandpa's bet is that no one will ever hear about the billions collected from these closed tax loopholes and one day some young reporter will point out that at best, the government collected 10% of the alleged amount.

Rather than apply this alleged $37 billion to existing debt, both the Senate and the House opt to use it as a down payment on additional debt.

The Senate bill heads to the House of Representatives and one can only cringe after Nancy Pelosi and Barney Frank place their sweaty palms all over the document. Based on history, the bill will likely double as the House of Representatives members will attempt to continue their reign of fiscal terror on our grandchildren.

Our children and grandchildren would be fortunate if the existing band of career politicians were all stocking shelves and fixing cart wheels at Walmart post November elections.

The thought of another 2 years of existing

House of Representatives members

What our children and grandchildren deserve!