What do wooden children's arrows have to do with the credit crisis?

Save the world economy! Save the wooden arrows for children! The Senate did both on Wednesday night. The 451-page Emergency Economic Stabilization Act of 2008 includes a number of tax relief measures added in presumably to garner votes; certainly few seem to respond to an emergency, or do anything particularly stabilizing. Here are the juicy bits from the bill that help some special interests or regions. John McCain and other senators, why didn't you put country first?

DIVISION C-TAX EXTENDERS AND ALTERNATIVE MINIMUM TAX RELIEF

SEC. 308. INCREASE IN LIMIT ON COVER OVER OF RUM EXCISE TAX TO PUERTO RICO AND THE VIRGIN ISLANDS.

(a) IN GENERAL.-Paragraph (1) of section 7652(f) is amended by striking ‘‘January 1, 2008'' and inserting ‘‘January 1, 2010''.

(b) EFFECTIVE DATE.-The amendment made by this section shall apply to distilled spirits brought into the United States after December 31, 2007.

SEC. 309. EXTENSION OF ECONOMIC DEVELOPMENT CREDIT FOR AMERICAN SAMOA.