OBAMA CALLS WALL STREET IRRESPONSIBLE, but look at what he’s doing:
Eight hours of debate in the HR to pass a bill spending $820 billion, or roughly $102 billion per hour of debate.
Only ten per cent of the “stimulus” to be spent on 2009.
Close to half goes to entities that sponsor or employ or both members of the Service Employees International Union, federal, state, and municipal employee unions, or other Democrat-controlled unions.
This bill is sent to Congress after Obama has been in office for seven days. It is 680 pages long. According to my calculations, not one member of Congress read the entire bill before this vote. Obviously, it would have been impossible, given his schedule, for President Obama to have read the entire bill.
For the amount spent we could have given every unemployed person in the United States roughly $75,000.
We could give every person who had lost a job and is now passing through long-term unemployment of six months or longer roughly $300,000.
There has been pork barrel politics since there has been politics. The scale of this pork is beyond what had ever been imagined before — and no one can be sure it will actually do much stimulation.
Wall Street didn’t have Obama’s chutzpah. And it didn’t do nearly the damage to the nation that this bill will do. (Via Dan Riehl).
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1 comments:
Scary things to see. just think of how much money is just shifting from one hand to another, and the legal precedent this is setting for any small business that wants to petition the feds for stimulus funding to keep them self afloat. Almost boggles the mind if one wants to think on it for any length of time. Also makes me wonder how It could be made to work for all of us down here on the lower end of the ladder. Looking at it in the right light, we all could be eligible for such funding, and might even be able to prove it beyond a doubt ;-)
Or am I reading into this way too much and having to much fun with it? I have to try and have fun here, as if I did not, I imagine I might want to cry thinking of all the people who are under the ladder so to speak. . .
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