WORLD NEWS TRUST: Ever Wonder What Is In The $800 Billion We Vote For Friday? (William Chirolas)

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Bill Chirolas -- World News Trust

If you are like me, you occasionally wonder what our Congress is spending our tax dollars on. I’ve been searching for an official copy of the bill and the usual summary that accompanies these things -- and have not found it. So in the interest folks knowing what is going on, I thought I’d offer up a two cent summary of the $800 Billion bill that will be voted on tomorrow.

The bill is a combination of the 110-page House bailout bill with a FDIC temporary increase in the account size that can be insured limit (which is not published -- only Sunday’s 103 page House bill draft is available) plus various add-ons that are mainly tax bills already “approved” by both House and Senate but stuck and not passed because of various reasons ("tax cut not offset with expense cut" Blue Dog plus GOP opposition in House, "political timing must be post-election" in the Senate). But there are a few additional items that I am told that are also already “approved” by both House and Senate, such as:

* The bill deals with creating parity for the insurance treatment of mental health problems.

* The bill details how state and local government will be given funds in lieu of taxes on federal lands within their boundaries.

And there are two National Security provisions that read like they are CYA for Bush Administration crimes and may well appeal to the House GOP:

* The bill makes permanent authority for undercover operations.

* And, the bill makes permanent authority for disclosure of information relating to terrorist activities.

And then we have an “Energy” section that reads like more tax spending and has its own title in the bill -- The Energy Improvement and Extension Act of 2008. which would:

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http://www.worldnewstrust.com/wnt-reports/commentary/ever-wonder-what-is-in-the-$800-billion-we-vote-thursday-10/3-william-chirolas.html