Wednesday, October 01, 2008

The Senate Bailout Monstrosity

We have gone from a nice clean three page bill that was short on oversight to a 450 page monstrosity.

Do we need any more evidence on why Congress deserves its abysmally low approval rating -- 18% according to RealClearPolitics?

A bunch of tax provisions and special benefits to buy votes have made their way in. From the article cited in the above link:

"And tucked away in the tax provisions is a landmark health care provision demanding that insurance companies provide coverage for mental health treatment—such as hospitalization—on parity with physical illnesses.

Really a bill onto itself, the mental health parity measure has been a bipartisan priority for top lawmakers in both chambers but has stalled because of disagreements again over how to pay for its estimated $3.8 billion five-year cost. In the current climate, that seems to be no longer a stumbling block, and if the Treasury plan becomes law, it will also."

Right. Nice work, guys. A true hat trick: many can say they voted against the original bill but then voted for a better one, and they can brag to certain special groups that they got their bacon as well.

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