Bailout to Taxpayers: We'll er...give you $110 Billion if you give us $700 Billion Now [YEAH RIGHT]

The initial 3 page document has been increased to 400, and included are tax break sweeteners amounting to around $110 billion. That's a bit like the kindergarten bully saying - give me your icecream now and tomorrow I will give it back to you, and I'll bring chocolate sauce along.

Well what happened to your ice icream?
I ate it. Now I want to eat yours.

The answer is "No."

clipped from news.yahoo.com The Senate's addition of some $110 billion in tax breaks and other sweeteners helped satisfy some Republican critics, but angered conservative so-called "Blue Dog" Democrats concerned about swelling the deficit. Still, Hoyer predicted the number of Democratic defectors from the measure "is going to be minimal." Rep. Earl Blumenauer, D-Ore., a liberal opponent, is also reconsidering his vote, a spokeswoman said on Thursday. But Blumenauer wants to see a mechanism to pay for the bailout and more help for homeowners staring at foreclosure. It extends several tax breaks popular with businesses, which are favorites for most Republicans. It would keep the alternative minimum tax from hitting 20 million middle-income Americans, which appeals to lawmakers in both parties. And it would provide $8 billion in tax relief for those hit by natural disasters in the Midwest, Texas and Louisiana. Help for rural schools was aimed mainly at lawmakers in the West.

Bush - no bailout, no homes or jobs

NVDL: I'd be uncomfortable with a president saying to me, "If you don't do this you could lose your home and job." I'll tell you why. Firstly, Americans are losing both anyway. And secondly, and mark my words on this, Americans will continue to lose homes and jobs regardless of whether the bailout is implemented or not. $700 billion could be spent on upgrading the US railway networks, and retrofitting suburbia. Instead they are pouring money into a black hole of mortgage defaults. Effectively it will simply wipe out more and more liquidity.

More on this here.

clipped from finance.yahoo.com The president told the public that the "rescue effort is not aimed at preserving any individual company or industry." He said the government is the only entity that is capable of buying financial firms' troubled assets at their current low prices and holding them until their value returns to normal. He argued that if a bailout is not approved, foreclosures would rise, millions of people could lose their jobs and reminded them that "ultimately our country could experience a long and painful recession." But undoubtedly, lawmakers--who are nearly united in saying that quick action is necessary--are now trying to figure out how they can approve a plan that saddles taxpayers with cleaning up a financial mess that has been years in the making. "My natural instinct is to oppose government intervention," Bush said. But, "these are not normal circumstances. The market is not functioning properly."