It's yet another attempt to make the American public pay for the mistakes of the corporate world. Why should everyone else fund Wall Street or Big Oil's problems? Let those welfare spongers use their own money. Haven't we seen enough of privatized profits and socialized losses? Why is Senator Inhofe such an extreme corporate socialist who doesn't believe in personal responsibility?
President Obama denounced Republicans on Tuesday for "playing special-interest politics" after a GOP senator thwarted a Democratic effort to raise the liability cap for oil spills to $10 billion.
Sen. Robert Menendez (D-N.J.) was seeking the unanimous consent of the Senate to move forward on the Big Oil Bailout Prevention Act, which would retroactively boost the legal cap of $75 million on how much companies must pay for economic damages.
But Sen. James M. Inhofe (R-Okla.) blocked the effort, saying it would make drilling too expensive for smaller companies. "Big Oil would love to have these caps there so they can shut out all the independents," he said, echoing the argument of Sen. Lisa Murkowski (R-Alaska), who halted an identical move last week.
