I've heard that the Senate is starting a new ten-step organization, Panderers Anonymous. The president is John McCain, the Vice President Barack Obama. All of our Senators and Congressmen are charter members. Applications are being taken from other politicians.
The organization was founded after the Senate approved increasing bank deposit insurance from $100,000 to $250,000. As with most pandering proposals, this may sound good, but will benefit few, if any, of us; further, the primary outcome of this proposal will be the wasting of more taxpayer money. McCain said, "I could not help myself. Providing more protection to my friends, the taxpayers, just sounds so good. I know it's meaningless, but I had to do it. I hope PA can help me stop pandering."
2 comments:
Maybe with inflation, $250,000 will buy $100,000 of stuff. Did you ever think of that?
It is kind of a useless concession in that interest was so low that everyone moved their savings to the stock market, i.e. 401Ks and Money Markets.
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