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Did Anyone Read The New Government 1.1 Trillion Dollar Spending Bill?

Our Congress that has done virtually nothing for two years is wrapping up 2014 with a bang.

Dozens of policy provisions are tucked into a 1,603-page bill that will keep the government open through next September 2015. The provisions affect everything from campaign finance laws to financial regulations, marijuana possession and even the government’s purchase of white potatoes. Oh, did you not hear about that in the news?

Most the provisions are notable because House Republican leaders frequently tout a transparent process. But there were a lot of items added at the last minute to this massive funding bill that were never discussed in any committee hearing, or voted on as part of any of the nearly dozen spending bills that were rolled into one package to result in the 1,603-page legislation.

I wonder why?

Here is a quick list of some of the changes:

Blocking new marijuana legalization bill in Washington, D.C.: Is it just me of does this really need to be in a government spending bill?

Wealthy donors allowed to give more to political parties: The bill increases the individual limits that donors can give to national parties to help fund conventions, building funds and legal proceedings, such as recounts. The change would effectively allow rich donors to give ten times more than they can today to support political parties. This is very bad folks.

More wheat bread for school lunches: Republicans wanted to block new nutritional requirements for school lunches under a program championed by First Lady Michelle Obama. But instead of wiping out the rule, Republicans and Democrats agreed to give local schools more flexibility on how they decided to include whole grain items on school menus.

No more taxpayer money for expensive portraits: Committee chairs and other high ranking government officials in Washington often commission large, often very pricey portraits of themselves to hang in hearing rooms. Under the bill they would need to use private money to pay for any new portraits. Oh wait, you didn’t know you paid for these?

And… this is the most important one. Are you paying attention?

Banks allowed to use taxpayer money to engage in potentially risky trades: The bill rolls back a provision that was part of financial reforms for Wall Street banks. It reverses a rule that was enacted in 2010 that barred banks from using taxpayer backed funds from trading in derivatives. Democrats argue these often risky trades helped contribute to the financial collapse in 2008.

This means the bank can and will use “Bail Ins”. They will use YOUR money to make risky investments. If they lose, or we have another stock market collapse, you lose any money you have in the the bank. Government will not bail them out again.

In short, the banks get to be reckless with your money and when then when the banks start to blow up they get to confiscate more of your money. The depositor is the one who is on the hook. These bail in laws are pretty much global now.

If you have your money in a bank, YOU HAVE BEEN WARNED!

Are you awake Yet?

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