A LIttle Tuesday Politics: Daschle Out - Got Pork?

I have to say good riddens to Daschle. If you or I forgot to pay taxes for "errors that included failing to report $15,000 in charitable donations, unreported car service and more than $80,000 in unreported income from consulting" we would probably be listed on a state website for delinquencies - no mercy. I guess he got things straightened out, "Daschle recently filed amended tax returns and paid more than $140,000 in back taxes and interest for 2005-2007." - CNN Online. I still find it precarious and I'd rather not see government being run by folks that don't follow the rules.

On to something more stimulating, today the GOP divulged what it described as "wasteful" in the stimulus bill. In case you are not up on the bill, here are a few of my personal favorites!


• $75 million for "smoking cessation activities."
• $150 million for Smithsonian museum facilities.
• A $246 million tax break for Hollywood movie producers to buy motion picture film.
• $650 million for the digital television converter box coupon program.
• $248 million for furniture at the new Homeland Security headquarters.
• $600 million to buy hybrid vehicles for federal employees.
• $400 million for the Centers for Disease Control to screen and prevent STD's.
• $1.4 billion for rural waste disposal programs.
• $2 billion earmark to re-start FutureGen, a near-zero emissions coal power plant in Illinois that the Department of Energy defunded last year because it said the project was inefficient.
• $6 billion to turn federal buildings into "green" buildings.
$160 million for "paid volunteers" at the Corporation for National and Community Service.

There actually more but I think I made my point. This stimulus is full of questionable, slow spending, non-job creating crap.

Increased Federal Loan Limits Lower Price Tag on Hundreds of Thousands of Loans

This may be old news - but in case you didn't know!

One immediate benefit of The Economic Stimulus Act of 2008 is the increase in loan limits for high-cost areas of the country. By raising the Federal Housing Administration’s loan limits on what qualifies for lower-cost FHA, Fannie Mae and Freddie Mac loans, the bill could help a quarter of a million families purchase or refinance their homes at a lower cost. Combined with record low interest rates, the change could improve the financial picture for many now facing foreclosure. The options and loan ceilings vary, however, from county to county and only a Certified Mortgage Planner can weigh all the options to determine if a new loan makes sense for an individual homeowner.

The increase is only temporary, however, so homeowners looking to shed the premium they pay for subprime or jumbo loans required to live in their state need to act quickly to take advantage of these federally-guaranteed loans.

FHA loan limits that will range from $271,050 to $729,750 with the largest loans available in high-cost metropolitan areas such as New York, Los Angeles, San Francisco and Washington, D.C. But even smaller markets could see increased activity in the housing market when the new loans become available.

$145 Billion Dollar Stimulus Package

Apparently, Wall Street wasn't satisfied with President Bush's economic stimulus proposal. The stock market has been declining since his comments. Income tax relief and business incentives were the crux of the proposal, however it lacked any real details. Is it enough? Too much?
I guess we'll see. Good stuff for the candidates to debate!