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A TV ad in Arizona’s 1st Congressional District and a mailer in Ohio’s 15th both accuse Democratic candidates of voting to give out huge Wall Street bonuses. That’s way overblown. The American Recovery and Reinvestment Act, also known as the stimulus bill, included less stringent restrictions on bonuses than those in an earlier version of the legislation, [...] [...] A TV ad in Arizona’s 1st Congressional District and a mailer in Ohio’s 15th both accuse Democratic candidates of voting to give out huge Wall Street bonuses. That’s way overblown. The American Recovery and Reinvestment Act, also known as the stimulus bill, included less stringent restrictions on bonuses than those in an earlier version of the legislation, [...] [...] In episode 28 of our podcast, we look at misleading ads from freshman House Democrats who claim they voted against the bank bailout bill, which passed before they took office. Also, we debunk a chain e-mail about taxes, and we highlight a perfect example of how deceptive editing is used in political advertising. For more on [...] [...] Four more freshman House Democrats are claiming in ads to have opposed the Wall Street bailout. We wrote last week about five ads being run by first-term Democrats claiming they voted against the bailout, which created the unpopular Troubled Asset Relief Program. But Congress approved the bailout program before these lawmakers were even elected, much less [...] [...] Deficits of Mass Destruction | The Nation If you’ve been paying attention this past decade, it won’t surprise you to learn that the country’s policy elites are in the midst of a destructive, well-nigh unhinged discussion about the future of the nation. But even by the degraded standards of the Washington establishment, the growing panic over government debt is shocking. Despite public outrage and thirst for justice, there’s a decent chance that BP will escape from the catastrophe relatively unscathed. We can’t get financial reform on the scale we need without embarrassing people. First, the facts. Nearly the entire deficit for this year and those projected into the near and medium terms are the result of three things: the ongoing wars in Afghanistan and Iraq, the Bush tax cuts and the recession. The solution to our fiscal situation is: end the wars, allow the tax cuts to expire and restore robust growth. Our long-term structural deficits will require us to control healthcare inflation the way countries with single-payer systems do. But right now we face a joblessness crisis that threatens to pitch us into a long, ugly period of low growth, the kind of lost decade that will cause [...] Oil Companies Reap Billions From Subsidies When the Deepwater Horizon drilling platform set off the worst oil spill at sea in American history, it was flying the flag of the Marshall Islands. Registering there allowed the rig’s owner to significantly reduce its American taxes. The owner, Transocean, moved its corporate headquarters from Houston to the Cayman Islands in 1999 and then to Switzerland in 2008, maneuvers that also helped it avoid taxes. At the same time, BP was reaping sizable tax benefits from leasing the rig. According to a letter sent in June to the Senate Finance Committee, the company used a tax break for the oil industry to write off 70 percent of the rent for Deepwater Horizon — a deduction of more than $225,000 a day since the lease began. With federal officials now considering a new tax on petroleum production to pay for the cleanup, the industry is fighting the measure, warning that it will lead to job losses and higher gasoline prices, as well as an increased dependence on foreign oil. via Oil Companies Reap Billions From Subsidies – NYTimes.com. I wish there was a way I could genuinely let you know just how appreciated your support has been. It has gotten me through some rough times but more importantly, has provided the other 965 people, those who do not support us but who read every issue, with a reliable source of free information regarding Putnam County, New York. All they have to do is open their email reader or web browser and the information is there three times each week like clockwork. So, not only must I thank you but they should, too. I suppose if they’re reading – and acting on what they read – they appreciate your efforts. [...] Sources say that the County Legislature, led by Philipstown’s Vincent Tamagna, and the Physical Services Committee which is headed up by Kent’s Richard Othmer, is now actively working with the State DOT to get them to pay for the road improvements developer Paul Camarda had promised to make on his own dime. Apparently the $3.7 million is a make-or-break deal for him and that without someone footing the bill Patterson Crossing may be mortally wounded. [...] “Sorry you got screwed but we cannot and will not ever return your overdraft fees and we’re truly sorry but hell will freeze over and the Pope will convert to Judaism before we admit we ever did anything so cruel as to intentionally mislead you. Thank you for banking with Bank of America. Enjoy your day!” [...] |
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‘Bailout’ Baloney | FactCheck.org
‘Bailout’ Baloney | FactCheck.org
Serving up a loaded word to spin the public.
Summary
This campaign season, “bailout” is a dirty — and often misused — word.
It’s no longer being used just in reference to Wall Street banks and the rescue of the financial industry. Candidates, corporations and special interest groups increasingly use “bailout” even when no government financial assistance is being proposed:
* Congressional candidates across the country are claiming their opponents support a “bailout” for BP, when in truth nobody is proposing a government handout to the oil-spill culprit.
* FedEx has been misusing “bailout” for more than a year in a multi-million-dollar campaign to prejudice the public against a proposal that would change labor laws.
* Environmental groups used “bailout” to rally opposition to a Clean Air Act amendment that would have barred the EPA from regulating greenhouse-gas emissions.
Those who abuse the word “bailout” aren’t appealing to logic, or trying to describe what they oppose accurately. They are seeking to trigger a gut response in an audience inclined to recoil instinctively at the word, and hoping nobody stops to think or ask questions.
via ‘Bailout’ Baloney | FactCheck.org.
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