Backdoor Bailout, Tea Party Fakeout: The GOP's Secret $90 Billion Gift to Wall Street - RJ Eskow

[WillyT]

Backdoor Bailout, Tea Party Fakeout: The GOP's Secret $90 Billion Gift to Wall Street
Richard (RJ) Eskow - Consultant, Writer, Senior Fellow with The Campaign for America's Future
Posted: October 22, 2010 10:07 AM

<snip>

GOP candidates are making a point of running against "bailouts" this year. Yet even as they rail about rescuing big banks, they're working on a plan that would slip those same banks an estimated $90 billion in taxpayer money...and that's just in the first ten years.

"Fiscal conservatism," anyone?

It was always hypocritical to slam a bailout that they and their party initiated. But it turns out they were just warming up. Now they're trying to pull a fast one on the American public, tapping Tea Party rage about big government spending even as they prepare to slip the big bankers some big bucks. They're planning to siphon off $90 billion meant for America's college students and their families and give it to Wall Street.

Any Tea Partier who votes for these guys is being played for a sucker.

The Republican repeal plan wouldn't just put tens of billions of public dollars in bank coffers. It would also raise the maximum amount a graduate is forced to pay each year from 10 percent to 15 percent of income. And it would extend the length of time before their debt is forgiven from 20 to 25 years.

Your GOP: Sending billions in taxpayer money to rich bankers, and squeezing young people starting out in life. Call it the New Populism.

Small government? Less spending? The Republican Party's backdoor bailout of wealthy bankers is bigger than the auto-industry bailout. It's bigger than the home-loan program. It's bigger than the lending program for small businesses. And unlike those programs, it serves no social purpose at all:

<snip>

More: http://www.huffingtonpost.com/rj-eskow/backdoor-bailout-tea-part_b_772352.html

:mad:

:kick:

[ejpoeta]

1. why does that not surprise me?

[WillyT]

2. Yeah... Huh ???

:kick:

:hi:

[walldude]

3. Hehe... Republicans are hilarious.

THe fuck everything up, blame it on everyone but themselves and then campaign on a platform of fixing all the shit they fucked up but blamed someone else for.