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.

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Yup, it is true. Former President Bill Clinton appeared on Good Morning America this morning and defended John McCain. (Politics makes strange bedfellows!)

ABC News' Nitya Venkataraman Reports: Former President Bill Clinton defended Sen. John McCain's request to delay the first presidential debate, saying McCain did it in "good faith" and pushed organizers to reserve time for economy talk during the debate if the Friday plans move forward.

... 

"We know he didn't do it because he's afraid because Sen. McCain wanted more debates," Clinton said, adding that he was "encouraged" by the joint statement from McCain and Sen. Barack Obama.

Clinton also commented on the Democrat's accusation that this problem came out of nowhere--we had nothing to do with this. He admitted some responsibility in this mess lies with the Democrats in Congress. (About half way through the clip)

Well... ...the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was President to put in some standards and tighten up a little with Fannie Mae and Freddie Mac. [He also blamed the Up Tick rule.]

I really hope the Congress acts in good faith and not in their typical political way, as in the NO Drill Bill. When Sen. Obama originally stated that he would not come, that "If you need me, call me." if he was needed, I wondered how that would have gone over with the Democrats if Pres. Bush had done that with Hurricane Katrina.

GOPUSA's piece, Bailing out the Bailout, talks about Sen. Reid's flip flop on McCain's presence and what some conservatives hope McCain can do, 

...Until McCain's announcement, Senate Majority Leader Harry Reid seemed inclined to support the $700 billion bailout bill -- provided Democrats could lard it with their own goodies -- but only if McCain (and other Republicans) would support the package and provide the Dems with political cover.

"I got some good news in the last hour or so ... it appears that Sen. McCain is going to come out for this," Reid announced Tuesday evening.

...

Reid's office promptly released a statement that said, "We need leadership; not a campaign photo-op." So the bailout is worth spending $700 billion of other people's money -- but not worth McCain flying to Washington to broker a doable deal? Get the feeling Reid is completely out of touch?

Now, what if McCain could reduce the size of the bailout? (That is a tall order, but hope springs eternal with me.)

If, however, McCain can broker a more fiscally responsible plan -- read one with a price tag about half of the original's size or less, and with a cap on executive pay -- he just might be able to broker a deal that can pass muster.

McCain is taking a huge chance here. Even just going to Washington to vote on this measure is a risk. One has to wonder if Obama hoped he could duck the whole thing by not going to the Senate to vote at all--a variation on voting, "Present."

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.

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Have you noticed that the mood of the country has changed regarding energy?

Last year, THE solution was all about growing our own energy by using ethanol. The emphasis was on reducing our carbon footprint and dependence on foreign oil, regardless of the cost.

But rising food prices and the fact that ethanol was a boondoggle (using as much energy as it supplied) caused ethanol's reign to slip from political popularity.

Then came Newt with his Drill Here.Drill Now.Pay Less. campaign. While I am surprised that he never did get those 3 million petition signers, he certainly started the conversation that we must start producing more oil domestically.

It was a conversation the President and House Republicans were willing to listen to. Nancy Pelosi and the House Democrats, however, were not. In fact, she shut down the House for 5 weeks!

During that 5 weeks off, around 130 House Republicans kept the heat on the discussion in the House. See YouTube

Also during the summer, the polls started showing that 67% of Americans favored domestic drilling.

John McCain responded to that fact by embracing offshore drilling. Certainly his picking Palin indicates he is looking at domestic oil and increasing natural gas. The Republican ticket has an "All of the above" approach. (Oil, clean coal, natural gas, tidal, hydro, hydrogen, geo-thermal, nuclear, wind, solar, etc.)

Barack Obama wouldn't go that far, but did promote getting off foreign oil dependence by increasing clean coal, natural gas, and safe nuclear as additions to the usual wind, solar, etc.

But while all this new domestic energy posturing was going on, Pelosi and the House Democrats were not available until this week. On Monday:

"House Majority Leader Steny Hoyer (D-Md.) said Monday morning that the newest Democratic energy bill will be brought to the floor under normal rules and will be subject to a vote on a Republican alternative that is likely to call for even more drilling than Democrats are prepared to swallow.

So finally, she and the House Democrats are willing to allow a vote on drilling!

"Pelosi miscalculated in her heavy-handed tactics before the recess.  She attempted to push through her own plan under suspension of the rules, a tactic she decried in 2006, which kept Republicans from offering an alternative.  When it failed, she adjourned Congress, hoping to put off the debate until after the conventions … and her book tour.

"Instead of regrouping, the Democrats found themselves routed by an angry electorate and motivated Republicans.  The House Oil Party kept the issue in the media eye, at least to an extent, but high gas prices kept it on the minds of voters while Democrats took their summer vacation.  It was as poor a political calculation seen in recent years, and the sudden shift in generic Congressional ballots and in party identification has been the result.

"Pelosi and Harry Reid may have finally figured out that they could lose this election on energy policy.  Will this be enough to stanch the bleeding? (My emphasis)

This vote would have never happened without public pressure. We tend to forget that fact. But don't jump for joy just yet.

The next hurdle will be, what kind of energy bill gets passed? Will it be a real energy bill that truly increases drilling opportunities and new energy sources? Or will it be just all show and no go? as a token attempt by Democrat Congressmen and Senators up for reelection to appear sympathetic to energy prices?

But House Republicans called the Democrats' proposals "gimmicks," and instead have insisted on a stand-alone vote on oil drilling.

"Speaker Pelosi's so-called 'energy' bill will do nothing to help our energy crisis," said Rep. Michele Bachmann, Minnesota Republican. "It will multiply red tape and make it almost impossible to lower already skyrocketing oil costs." (My emphasis)

Stay tuned! 

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Brookfield7, Fairly Conservative, Betterbrookfield, Mark Levin,  Vicki Mckenna

Last night I heard Senator Inhofe (R-Oklahoma) on the Mark Levin Show.  They were discussing S. 2191, the Senate "Lieberman/Warner Global Warming Bill and the disastrous effect this would have not on just the country as a whole, but the individual." (My emphasis throughout post.)

Wall Street Journal referred to Cap-and-Trade as Cap and Spend

As the Senate opens debate on its mammoth carbon regulation program this week, the phrase of the hour is "cap and trade." This sounds innocuous enough. But anyone who looks at the legislative details will quickly see that a better description is cap and spend. This is easily the largest income redistribution scheme since the income tax.

The Washington Post said, Just Call It "Cap-and-Tax" 

"...One of the bad ways [to control greenhouse gas] is cap-and-trade. Unfortunately, it's the darling of environmental groups and their political allies.

The chief political virtue of cap-and-trade -- a complex scheme to reduce greenhouse gases -- is its complexity. This allows its environmental supporters to shape public perceptions in essentially deceptive ways. Cap-and-trade would act as a tax, but it's not described as a tax. It would regulate economic activity, but it's promoted as a "free market" mechanism. Finally, it would trigger a tidal wave of influence-peddling, as lobbyists scrambled to exploit the system for different industries and localities. This would undermine whatever abstract advantages the system has.

...Call this "environmental pork," and it would just be a start. The program's potential to confer subsidies and preferential treatment would stimulate a lobbying frenzy. Think of today's farm programs -- and multiply by 10.

After listening to Senator Inhofe, I think we could also refer to it as Cap-and-Raid! If it passes, it will raid every worker in America's wallet!

Senator Inhofe said, Senator Barbara Boxer insists this is not a tax bill. But if you have looked into the bill itself and at the linked articles, it is difficult to understand how this could not be considered a tax bill.

Inhofe then quickly listed some points to ponder. He mentioned the Wall Street Journal referring to it as the most extensive reorganization since the 1930s. He called it worse than the Kyoto Treaty for the economy. Cap-and-Trade will need 45 more Big Government Bureaucracies to enforce the standards.

Using Boxer's figures, Inhofe pointed out that Cap-and-Trade would collect $6.7 Trillion dollars from industry (those costs will be passed onto us!). The maximum rebate to customers is $2.5 Trillion dollars. Do the math: That means $4.2 Trillion goes where?

That sounds like a tax to me!

He went on to remind us that the Democrats have killed every domestic drilling bill. The US relies on coal for 53% of all of its electricity production. Cap-and-Trade will tax coal fired electricity production. Consider that China "cranks out a new coal electric plant" every 3 days (?). (I think he said 3 days, which fits with this - certainly between India and China it would be true.)

Manufacturing jobs will go where there is (cheap) energy/power, Inhofe said. This is also what Congressman Sensenbrenner talked about at his Town Hall Meeting when he called Cap-and-Trade "Catastrophic for Wisconsin". I would add that manufacturing jobs will also go where environmental regulations are more lax.

Senator Inhofe suggested people take a look at Liberman-Warner Opposition Resource Center; Impacts of Costly Climate Bill Exposed  It is chock full of quotes, links and articles.

The Senate is debating this bill this week. While some say the bill will not pass, as you know, once the foot is in the door, the issue will not go away.  Considering all 3 Presidential candidates support the concept of Global Warming, I would just say, the bill probably won't pass...yet.

Our Senators' response to my emails: Not much hope of a NO vote here--unless they feel the heat from constituents.

This is important! Please contact them both: Senator Kohl (Phone: (414) 297-4451, (202) 224-5653) and Senator  Feingold (Office of Senator Russ Feingold | 202/224-5323) and let them know what you think about this bill.

More reading:

George Will's Cap-And-Trade: A Devious Tax Plan

Good chart of key players and terms explained at end: Senate taking up key climate-change bill 

The Heritage Foundation's Morning Bell: Carbon Capping in Bizarro World 

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