This Bill Shall Be Known As The Economic Patriot Act of 2008
BE IT ENACTED:
§1 The Secretary of the Treasury (“Secretary”) is hereby directed to purchase the primary home mortgage or deed of trust for any U.S. citizen or legal resident that applies for protection with the Secretary.
§2 The Secretary shall administer the mortgage or deed of trust for any qualified applicant at a fixed rate of 2%. A “qualified applicant” is one whose total net worth is less than the amount equal to the 99th percentile of Americans as determined by the Secretary and who makes application within the next 18 months.
§3 The Secretary is hereby directed to issue a warrant in the amount of $3,000.00 to each person who does not own a residence or who does not apply for relief hereunder.
§ $1,000,000,000.00 is appropriated for the purposes of section 1-3 herein.
§10 The Secretary of Health and Human Services (“Secretary”) is hereby directed to extend Medicare benefits to any U.S. citizen or legal resident that requests them.
§11 The Medicare Modernization Act is repealed.
§12 It is the intent of Congress to reform the health care services of the United States. In the interim, the Secretary is directed to charge any Medicare benefit recipient the sum of $10 for any drug prescription.