John Bolton

John Bolton

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Monday, September 06, 2010

Obama: What's Another $50 Billion Among Friends?

Obama to propose new stimulus for infrastructure, but it won't create jobs this year!

Remember that Obama claimed the original stimulus (final cost minus debt: $862 billion) was supposed to be targeted on "shovel ready jobs" for infrastructure projects that would put people back to work right away? Well, as we later learned, much of that money went to pay off Obama's backers in the 2008 campaign: mainly big government and labor unions.

Since the original $862 billion stimulus, has proved such a failure, Dems upped the ante with additional spending, including $26 billion out of a requested $50 billion to bail out the teacher's unions in early August. Weeks later, Obama is back again asking for $50 billion or more to do what he said the original stimulus was intended to do:
WASHINGTON (AP) - Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation's roads, railways and runways that would cost at least $50 billion.

The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee.

While the proposal calls for investments over six years, the White House said spending would be front-loaded with an initial $50 billion to help create jobs in the near future.
And yet, Mark Knoller, CBS White House Correspondent adds this:
Admin officials say Obama's new infrastructure plan would not produce any new jobs till next year. And can't say how many.
And how does Obama expect to pay for these new projects? Will he cancel unspent stimulus projects that have proved to be such a failure? No. Higher taxes on oil and gas companies are his answer. And guess who pays those? Americans will  pay for Obama's latest big government giveaway every time they fuel up at the pump.

Americans who are sick of the runaway spending, the corruption and massive expansion of government have only one option this fall: VOTE REPUBLICAN!

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