Ron Paul: Housing Rescue Bill Has Provison That Will Require All Credit Card Transactions Be Reported To The IRS

Texas Congressman Ron Paul, in a 7 minute video message, has spilled the beans on the so called "Housing Rescue" bill just passed by the House, and soon to be passed by the Senate.

The bill is some 600 pages long. Sneaked into the bill is a provison that will require that all credit card transactions be reported to the IRS.

Further, the bill gives approval to increase the national debt ceiling by $800 billion. It also requires that those in the mortgage industry be fingerprinted.

With 600 pages, who knows what else was sneaked into this bill? With 600 pages of legalese, you can sneak in a lot. Once the report is in its final form, we are going to attempt to read it, and file a complete report. Check back.

Here's Ron Paul:

Bush Drops Opposition to Housing Bill

The House is in, the Senate is in, and now GW is in.

This morning, President Bush dropped his opposition to legislation aiming to "rescue" the housing market despite his objections to a $3.9 billion provision. The House was expected to vote on and pass the bill today, and it could become law as early as this week.