On the recordFebruary 5, 2009
If you believe this is a good process, to spend $800 billion, we are on different planets. We are literally making this up as we go. If this is such a good process, why are 16 Senators meeting in a corner trying to figure out how to keep this from stinking up with the public? The idea that the markup lasted 1 hour 40 minutes and one amendment is accepted--is this the way we are going to solve Social Security? Look at this bill. This bill has to be done by tonight, and we are figuring out as we go what is in it. There is a COBRA provision in this bill. What is COBRA? Well, if you lose your job, there is an ability to maintain health care insurance through a program called COBRA. People are losing their jobs, and they may need COBRA benefits. The bill says we will pay 65 percent of the COBRA premium for anybody who loses their job. That makes sense to some extent, but what if you are the CEO who has been fired from one of these banks and you are worth $20 million? Should we pay 65 percent of your premium? That is not smart.
Source
govinfo.gov




