Monday, February 09, 2009

The Audacity of Pork

First it was a promise of doing things differently. A more ethical White House, but that dream flew out the window with Turbo Tax Timmy, Tom Daschle and some woman who didn't stick around long enough for anyone to remember her name as a nominee for some made up office. George Bush may have made up words, but President Obama is making up 6 figure jobs, one at a time. In truth, President Obama should be in charge of collections at the IRS. Nobody gets people to pay their delinquent taxes any better than he does with his nominations.

Later it would be a $1.1 trillion dollar stimulus package that had something for everyone. And the best part was that Congressional Democrats would take the rap for all that pork. Senator Max Baucus got $26 billion for private equity firms. Senator Robert Byrd got 4.6 billion for his constituents and clean coal, which Obama contends is a fallacy. Even under the guise of green education, there was $100 million for children to learn green construction. Seriously? Children can learn green construction on the job after they drop out of high school, they don't need $100 million for it in elementary school. Don't forget, this is a do as I say, not a do as I do White House.

However, while Nancy Pelosi, Harry Reid and the rest of the Dems on the Hill loaded up the stimulus with pork barrel spending, the President was still watching out for his friends. There was $4 billion, give or take, for community action groups like ACORN.

Now with the door of public opinion getting slammed on the fingers of hill Democrats, they revised the bill down, from $1.1 trillion, to $827 billion. They cut the bill by about a third, but does anyone believe that the pork is all gone? I sure don't. You can rest assured that there is plenty of extraneous spending in this bill and that there will be plenty of favors returned. Eight and quarter billion dollars to be spent at break neck speed leaves a lot of room for fudging and not much time to catch the pork spending.

One last thing to consider... when a Senator or Congressman attaches a piece of pork to a piece of spending, he or she is doing what they need to do, to keep their constituents happy and get themselves reelected, but are they really acting in the best interests of their constituents? Not very often. That’s the inherent conflict of interest in Capitol Hill politics. All to often, the players are busy trying to get reelected as opposed to fulfilling their oath of office to best serve the people.


NewsOfTheSpirit said...

Republicans LOST and DESTROYED our Country with their wasteful spending on STUPID wars. DUH. Iraq did not do 911, get it!

Finally we have a president that isn't a drunk and actually got good grades at Harvard.

There is hope at last.

Dead End said...

You must be easily food by the propaganda, if you believe that this entire situation is entirely the product of Republican politicians. It was Jimmy Carter who devised the CRA. It was Bill Clinton who expanded it. Thats exactly when the curve for home home price appreciation decoupled from the curve for personal income growth. Read past the end of your nose.

By the way, how did BHO get into Harvard & Columbia and who were his patrons while there?

So good grades in an Ivy League school makes you a good person? I am sure your one of those fools who is railing against every Wall St banker, regardless of their job or how successful they were. 95% of Wall St employees were legitimatly and wildly profitable over the last few years, unlike the Wall Streeters who are involved in CDOs and sub prime. I'll bet a lot of them got good grades at schools like Harvard and Columbia.

How well do you retire if your 401k, Roth IRA and other investments are managed by a 5th string rookie w/o an MBA, because all the guys worth a damn are off running money in places like Dubai and Hong Kong, because those places pay orders of magnitude more money than the $500k Wall St pays.

Dead End said...

I hope you righteousness keeps you warm and employed this winter, because hope will not.

Brian said...

Both Republicans and Democrats are in the wrong and have been leading us into this mess for decades.

This is not a partisan issue; it seems all the economic advisors in Washington are missing the big picture (or feigning ignorance) when it comes to our plight.