Aug 9, 2010
$26.1 billion bailout - more distruction
Why is Congress demanding that governors and mayors fire teachers, cops and firefighters before cutting ridiculous spending like this:
$120,000,000 spent on state-run liquor stores - Washington State
$39,608,662 spent on neighborhood & recreational services - Newark, New Jersey
$7,000,000 spent on museums - Oakland, California
$1,607,367 spent on awards and prizes at county fairs - Illinois
$1,000,000 spent on mural art - Philadelphia, Pennsylvania
$750,000 spent on the opera house - Baltimore, Maryland
This week Speaker Pelosi has called the House of Representatives back to Congress. The intent is to spend another $26.1 Billion.
The Porkulus II: what it does....
Forces states to take bailout dollars, bypassing Governors who refuse the money, and forbidding them from making necessary budget cuts.
Gives teachers unions roughly $50 - $100 million through trickle-down.
Will increase the deficit by $12.6 billion, according to the Congressional Budget Office.
Will result in a permanent tax increase of $9.7 billion for U.S. multinational companies - increasing the cost of doing business and risking jobs during the recession. (Interestingly, the revenue from these same tax increases have already been spent...twice, in two other pieces of legislation!)
The fact is, the federal government cannot afford to bailout states who refuse to cut back spending. In case Nancy Pelosi forgot, the American people still fund the federal government. If states can't afford it, neither can the federal government. Bailing out states and extending failed stimulus programs only perpetuates states' reliance on the federal government.
What sucks...is there is nothing we can do about it. Guess what? No amount of good conservative candidates can fix this mess...and if they try, they will be the most hated people on earth for reining in, making big cuts and depriving these bloodsuckers who are not willing to give up these programs and entitlements. Hate to say it....a crash and collapse will be easier to endure than living with the long term effects of what Dems have done to America in just the last 2 years.