(crossposted at B&P)

There is no greater advocate of handing out pork in return for political favors than Senator Mitch McConnell.

And it appears that Mitch McConnell has outdone himself again in political cronyism.

While Mitch McConnell is busy filibustering to stop the expansion of health care for poor families, he has finally found a constituency that is worthy of our tax dollars.

Millionaire thoroughbred owners.

Seriously.

This week, Congress is expected to take up a $300 billion farm bill, which President Bush has vowed to veto. The AP reports that the bill “contains something for everyone” — including the following important project tucked within the massive bill:

A tax break for horse owners was included by Senate Minority Leader Mitch McConnell, R-Ky.

Politico’s Crypt explains:

The measure would essentially allow race horse owners — who pay millions for Triple Crown contenders — to write down their investment over four years. … Senate aides say it will cost between $60 million and $70 million.

Shocking, eh?

Well, if sick kids can’t get the health care they need, at least our millionaires will be able to cover all of their thoroughbreds’ veterinarian bills. After all, we need to have our priorities in order, right Mitch?

Anyway, a review:

Covering sick kids from poor families = socialism

Giving $70 million in tax breaks to millionaires = The American Way

And once more, I can’t wait to see Mitch “Porky” McConnell and John “Pork-Intolerant” McCain on the same stage campaigning this year. I will literally pay money to see that uber-awkwardness.

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There is an excellent post on Greg Palast’s blog linking the Eliot Spitzer scandal with the recent bailout of Bear Stearns:

It was the night of February 13 when Spitzer made the bone-headed choice to order take-out in his Washington Hotel room. He had just finished signing these words for the Washington Post about predatory loans:

“Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye.”

Bush, Spitzer said right in the headline, was the “Predator Lenders’ Partner in Crime.” The President, said Spitzer, was a fugitive from justice. And Spitzer was in Washington to launch a campaign to take on the Bush regime and the biggest financial powers on the planet.

Spitzer wrote, “When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners the Bush administration will not be judged favorably.”

But now, the Administration can rest assured that this love story – of Bush and his bankers - will not be told by history at all – now that the Sheriff of Wall Street has fallen on his own gun.

It looks like Gov. Spitzer wasn’t the only one getting screwed.

(h/t: Crooks and Liars)

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