Pictured: The Bailout Bill (top, above Colossus)
Monday the House defeated the initial bailout bill, but it has since been slightly revised and will be voted on in the Senate later today. Also, Barack Obama, John McCain and Joe Biden have all SUSPENDED THEIR CAMPAIGNS to go to Washington to vote on it today. Or they didn't, because that would be a pointless stunt. Biden still plans on showing up to debate Sarah Palin tomorrow night, because he's not putting Country First.
So how is this bill different from Monday's failed legislation? Let ABC News tell it.
The new Senate version of the bailout was sweetened Tuesday night by additions that would allow the Federal Deposit Insurance Corp. to raise the amount of bank deposits it insures from $100,000 to $250,000, a move expected to help small businesses.
The Senate bill also includes tax breaks for businesses and the middle class, something the Senate has been trying to pass for the past several years and which the House has rejected because the Senate does not include corresponding cuts to make up the difference in the budget.
So we got the FDIC cap raised (something both candidates said they favored yesterday) and some additional tax breaks. This is supposedly to get more Republican support for the bill, even if it loses some Democratic support. It's expected to pass, but that's what they said on Monday. Fool me once, shame on you. Fool me, . . . can't get fooled again.