Posted on 02/06/2008 10:19:09 PM PST by george76
The fate of $600-$1,200 rebate checks for more than 100 million Americans is in limbo after Senate Republicans blocked a bid by Democrats to add $44 billion in help for the elderly, disabled veterans, the unemployed and businesses to the House-passed economic aid package.
GOP senators banded together Wednesday to thwart the $205 billion plan, leaving Democrats with a difficult choice either to quickly accept a House bill they have said is inadequate or risk being blamed for delaying a measure designed as a swift shot in the arm for the lagging economy.
The tally was 58-41 to end debate on the Senate measure, just short of the 60 votes Democrats would have needed to scale procedural hurdles and move the bill to a final vote. In a suspenseful showdown vote that capped days of partisan infighting and procedural jockeying, eight Republicans four of them up for re-election this year joined Democrats to back the plan, bucking GOP leaders and President Bush, who objected to the costly add-ons.
Democrats choreographed the vote for maximum political advantage, presenting their aid proposal as a take-it-or-leave-it proposition for Republicans and calling back their presidential candidates to make a show of party unity behind their stimulus plan.
They calculated that Republicans would pay a steep price for opposing rebates for older Americans and disabled veterans, as well as heating aid for the poor, unemployment benefits and a much larger collection of business tax breaks than the House approved.
(Excerpt) Read more at connpost.com ...
Schedule of changes to public debt - by issue / maturity date - offset against initial position 31 Dec 07
Note: debits retire / credits renew (amounts listed are units of $1,000’s)
Type - Issue_Dt Maturity (Retired)/net - price/$1000
T-Bill 07/05/07 01/03/08 (20,573,316) @ 0.97568278
T-BIll 10/04/07 01/03/08 (21,907,561) @ 0.99029333
T-Bill 12/06/07 01/03/08 (29,000,238) @ 0.99758889
T-Bill 07/12/07 01/10/08 (20,552,453.0) @ 0.97548056
T-Bill 10/11/07 01/10/08 (21,855,436.0) @ 0.99007847
T-Bill 12/13/07 01/10/08 (23,000,048.0) @ 0.99775222
T-Bill 01/10/08 02/07/08 $15,965,870.36
T-Bill 01/10/08 04/10/08 $24,112,522.93
T-Bill 01/10/08 07/10/08 $23,707,753.75
TIPS : 01/15/98 01/15/008 (8,408,613.0) @ 0.99130 3.730% of inflation adjusted principle
TIPS : 10/15/98 01/15/008 (8,400,538.0) @ 1.00869 3.650% of inflation adjusted principle
TIPS : 01/15/98 01/15/008 (4,929,000.0) - TIPS adjustment for inflation a/o 31 Dec 07
TIPS : 01/15/08 01/15/18 $10,383,328.69 @ 1.002762028 [$10,411,966 @ 1.625 % on inflation adj face]
T-Bill 07/19/07 01/17/08 (21,711,896) @ $0.97540472
T-Bill 10/18/07 01/17/08 (21,855,838) @ $0.98942125
T-Bill 12/20/07 01/17/08 (20,000,217) @ $0.99786111
T-Bill 01/17/08 02/14/08 $ 8,978,497.821
T-Bill 01/17/08 04/17/08 $21,360,842.93
T-Bill 01/17/08 07/17/08 $23,680,869.16
T-Bill 07/26/07 01/24/08 (22,944,865.0) @ $0.97527833
T-Bill 10/25/07 01/24/08 (23,399,275.0) @ $0.99014167
T-Bill 12/27/07 01/24/08 (15,000,000.0) @ $0.99763556
T-Bill 01/24/08 02/21/08 14,979,659.25
T-Bill 01/24/08 04/24/08 22,279,724.52
T-Bill 01/24/08 07/24/08 24,627,531.85
Notes: 01/31/06 01/31/08 (27,168,000) @ $0.99901510 @ 4.427 %
T-Bill 08/02/07 01/31/08 (24,010,871) @ $0.97573333
T-Bill 11/01/07 01/31/08 (25,681,327) @ $0.99009111
T-BIll 01/03/08 01/31/08 (17,000,111) @ $0.99766667
T-Bill 01/31/08 02/28/08 $19,968,135.96
T-Bill 01/31/08 05/01/08 $24,247,533.58
T-Bill 01/31/08 07/31/08 $26,981,412.86
Notes: 01/31/08 01/31/10 $26,864,204.08 [$26,922,862 @ 2.237 %]
Notes: 01/31/08 01/31/13 $15,680,302.68 [$15,704,984 @ 2.909 %]
TIPS : 01/31/08 01/15/28 $ 8,916,034.917 [$8,974,275 @ 1.75 % on inflation adj face]
T-Bill 08/09/07 02/07/08 (25,469,794) @ $0.97608722
T-Bill 11/05/07 02/07/08 (27,431,639) @ $0.99102639
T-Bill 01/10/08 02/07/08 (16,006,206) @ $0.99748000
T-Bill 02/07/08 03/06/08 $29,044,222.22
T-Bill 02/07/08 05/08/08 $28,918,383.71
T-Bill 02/07/08 08/07/08 $27,428,468.27
T-Bill 08/16/07 02/14/08 (24,089,787) @ $0.97618833
T-Bill 11/15/07 02/14/08 (27,478,804) @ $0.99132972
T-Bill 01/17/08 02/14/08 ( 9,000,058) @ $0.99760444
T-Bill 02/14/08 05/14/08 $**,***,***
T-Bill 02/14/08 08/14/08 $**,***,***
Notes: 02/17/98 02/15/08 (13,574,716.00) @ $0.99514 @ 5.564 %
Notes: 02/18/03 02/15/08 (27,483,982.00) @ $0.99866 @ 3.029 %
Notes: 02/15/05 02/15/08 (23,882,592.00) @ $0.99731536 @ 3.470 %
Notes: 02/15/08 02/15/18 $19,013,510.12 [$19,204,237 @ 3.50%]
Bonds: 02/15/08 02/15/38 $**,***,***.**
No shockers on that list..that is for sure.
Love your “Plan”. Don’t know how many it will take to push my Tundra with my boat in tow.
Seems they should be able to swim fast enough to bring the boat up to a good cruise speed. ;>)
It wouldn’t be too hard to write a letter that explains the value of spending Rebate Dollars on Carpet Cleaning, Omaha Steaks, or Red Wing work shoes,etc., rather then Asian Goods from Wal-Mart.
“Down to $1000.00 huh? Thats going to put a crimp on my plans for an Ar-15 varmint-special.”
Funny, I had just decided the other day that I was going to spend what was left of mine on my first gun, a handgun.
Oh, what the heck, i’m gonna get it with my own money.
This is going just like the Katrina money. Send the money out quick cause the media makes you look cold hearted, and spend the next 10 years trying to get back billions from people that don't even live in La. How many spent their money on crack the first week anyway?
This just in: Republicans grow a pair. Film at 11.
How does a rebate of money I paid in "cost" you?
You are absolutely right. The virtual doubling of the price of gasoline and natural gas is just like a tax hike. If we had anybody with brains in our party, they would be trumpeting this fact to the high heavens. Taking money out of the pockets of consumers kills the economy, a fact which the tax raisers in the RAT party apparently overlooked in their so called “Energy Bill”.
Political theater. They’ve already said that if they can’t pork it up quickly, they’ll just pass the House version.
I said others, not all others or everybody. These so called rebates will also be going to folks who pay no taxes and in many cases these same folks get EIC dollars.
You are correct. But that $3000 figure applies to “earned” income. So I guess they want to help & encourage people who work.
In fact if you have all unearned income (interest, dividends etc) there will be no rebate check regardless of taxes paid.
Carolyn
...and now Senate Dems are trying to back out of their deal by tacking on additional spending.
This is a colossal failure of Senate leadership; something not shared by the House. The Senate leadership couldn’t keep their rank and file in line with the agreed deal. In contrast, the House voted 385 to 35 to pass the agreed-upon deal.
Instead, the article talks about political advantage and the GOP putting rebate checks in limbo.
That’s enormous bias in this article.
Senate Dems are breaking their deal, yet not one word about that failure of Senate leadership is mentioned...
Welfare checks in limbo? Awwwwww . . . too bad. /sarc
The sad thing is that we are at a point where we say these 8 were following the dems into oblivion, but all they were doing were adding 44 billion to an already agreed-to 150 billion dollar plan.
A lot of republicans will vote for THAT plan, and the president will sign it. Heck, if the senate DID add the 44 billion, and the house agreed to it, the president probably would have signed it.
So much for my AR-15 paid for by other people. Guess I gotta pay for it myself.
Correct me if I am wrong but almost all of that debt is short term debt retiring in 08.
When the Clinton administration was in charge they moved most of the national debt to short term to make things look good. Long term debt creates stability, short term chaos.
We are locked into short term debt and chaos. What are the implications of that for the future?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.