Budget and Bonuses
While members of Congress are stoking up public anger over the AIG bonus scandal and passing possibly unconstitutional laws to tax corporate bonuses the Central Planner-and-Chief is hitting the campaign trail to garner support for his $3.6 trillion budget proposal. Coincidence? Probably not.
All in the name of preventing "squandering of the people's money" 85 Republicans and 247 Democrats passed legislation which would tax anyone making over $250,000 who received a corporate bonus from AIG 90% on those bonuses.
Nancy Pelosi said, "We want our money back now for the taxpayers." "It isn't that complicated."
The President chimed in, "I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated."
While the AIG situation is proceeding down the tubes at warp speed, the President is hitting the campaign trail to gain support for his budget proposal, starting in California.
At a town-hall-style meeting in Costa Mesa the President told a crowd of 1300 cult members, “What all of you know deep down — and what folks in Washington sometimes forget — is that in the end, a budget is not merely numbers on a page or a laundry list of programs,”
All of this to the tune of $3.6 trillion while Congress is trying to make a huge raucous over $165 million. Don't worry, they are here for you.
Photo Credit to Monica Almeida of The New York Times