Rush Limbaugh's Morning Update: Porkulus II

From Rush Limbaugh: Did you know, my friends, that on top of that trillion-dollar "porkulus" spending bill that the House Democrats passed (with zero Republican votes, by the way), the Obama administration is already planning another bank bailout?

We'll call it "Porkulus II". The latest plan would create a new federal bank, funded with hundreds of billions more, so that it can buy "toxic" real estate assets. Yes, I know: that's exactly what the first trillion dollars in the first bank bailout was supposed to do.

Let's rewind for a moment. In the final months of the campaign, candidate Obama said that he would give 95 percent of Americans a tax cut to stimulate the economy. He and every Democrat running lambasted Bush for not doing enough on the foreclosure front.

Well... Democrats own the government, so what's their first priority? Your tax cuts? Direct assistance to people facing home foreclosures? No way, folks! The Democrats offered up a gigantic porkulus spending bill, to fund condoms and other contraception, voter fraud organizations like ACORN, money for Amtrak, money to re-sod the National Mall -- and all sorts of spending boondoggles that won't materialize until these guys are up for re-election. Ideas to jumpstart job growth -- with real tax incentives for businesses or cap gains cuts -- are not even considered.

Now the Democrats want another porkulus bill for their Wall Street bank buddies? This isn't hope; this isn't change. You might as well have voted for Bernie Madoff.

Read the Background Material on the Morning Update...
• AP: Billions More Needed for Financial Rescue