The passing of the 'bailout' or should it be called the passing of a good old fashiond porking.

The bailout was passed today without a great deal of fanfare and other than the smiling faces of Nancy Pelosi, Harry Reid and a hand full of their colleagues from both houses who stand to benefit personally when the money trickles down to their respective states and districts, there isn't a great deal to be overly optimistic about, if you belong to the middle class, that is.

Since these purveyors of happy thoughts are overtaken with glee I thought I would put down on paper a few of the great benefits we stand to have flow our way in the coming years. There is a $400 tax credit for individuals earning less than $75,000 per year, but wait there's more, there's an $800 tax credit for married couples making less than $150,000, though any tax break is nice this paltry sum is about as useless, as my late father would say, as tits on a boar and my wife reminded me that her relatives on the farm in Canada use the equally appropriate term tits on a bull. The reality of this is, an $800 tax credit will have little or no impact on the lives of a couple making up to $150,000, and I will go as far as saying it will not induce them to start spending in a way that will stimulate this economy and that statement also, applies to the single person.

There's 65 billion for different types of infrastructure which will fall into the hands of states and their favored contractors and it's my best guess won't create many more jobs than are already there and really isn't that much in the grand scheme of things. There's another 87 billion for Medicaid which will lead us from massive fraud to fraud on a gargantuan scale and I can only guess little better care for the poor than already exists, more new and sophisticated scams will more than likely be the net result. An additional 39 billion for extension of unemployment benefits with a whopping additional $25 per week on your unemployment check, that's just great, that won't even cover bus fare to the unemployment office to look for one of those new jobs the President is touting, your chances are better using the twenty five bucks on lottery tickets at the corner convenience store. And 25 billion to help extend health benefits for the unemployed for nine months.

There is a one time $250 payment for senior citizens, disabled veterans and disabled people living on social security, again not very likely to even show a spike in general spending and surely not an upsurge in the economy. Buyers of new cars will be able to deduct the sales tax on the purchase regardless of whether they itemize deductions, it's a nice thought but I can't see this inducing people to run right out and buy a new car, that's not the way buying cars works, sales tax and subsequent deductions have nothing to do with it, you buy it because you need a new car or because you have developed an obsession for that make and model, then go home thinking about how badly you have been screwed and wondering if you should try to take that newly acquired piece of rolling stock back for a refund but the thought of embarrassment usually keeps your feet planted like tree roots, one more thing, new car buyers usually blend the tax's, dealer prep and delivery charges into the payment so it's the payment itself that car buyers are concerned about.

There is an $8,000 tax credit for first time buyers and couples with income under $150,000, quick run out and finance that new home with one of those 'reborn' mortgage brokers that screwed everyone they could get their hands on last year. There is a $500 increase in Federal Pell Grants, but it is my best guess that you have to show a degree of hardship to qualify and that leaves out most middle class Americans. Financial companies that get government money will have stricter rules governing hiring 'cheap' foreign labor. And the 'Buy American' clause has had it's teeth pulled and it's testicles removed.

And one last thing, in the new politispeak introduced by 44, he says the 212 billion in tax cuts and 575 billion in spending will Create Or Save 3.5 million jobs. Initially he was going to CREATE 2 million, then it went to 3 million and in several speeches he went to 4 million NEW jobs, there was never any mention about SAVING jobs. So, what about all of those NEW jobs we've heard about over and over again, that are going to fire up this economy and make it lift off like an economic atlas rocket? And what's going to happen to all of those out of work millions of people if jobs are only saved?

All in all I'm really excited about the bailout, because this will leave me with blogging material for the foreseeable future.

Thanks for reading,

"There are people so addicted to exaggeration they can't tell the truth without lying"
Josh Billings - Pen name of humorist Henry Wheeler Shaw
1818 - 1885

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