Major activity in DC today:
WASHINGTON (APE) – Today, House Minority Leader Nancy Pelosi (D – Calif.) introduced a sweeping economic bill, which includes:
- Elimination of all welfare
- Elimnination of all unemployment insurance
- Elimination of all student loan programs
- Elimination of Medicare and Medicaid
- Elimination of Social Security
- Elimination of the federal flood insurance program
- A complete restructuring of the national tax structure in which federal and state taxes are paid only by those making less than $50,000 per year and the federal government will penalize any state or local governments that attempt to levy taxes of any kind on anyone making above $50,000 per year.
At a press conference shortly after the bill’s introduction, President Obama gave it his full endorsement.
Immediately thereafter, House Speaker John Boehner (R – Ohio), called the House into emergency session, bringing the measure straight to the floor for a vote, in which the measure was soundly defeated – before anyone in the Republican majority bothered to read it.
A short time ago, Majority Leader Eric Cantor (R – Va.) issued a press release in which he stated, “DOH!”