Archive for Stimulus
Page Turner
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In his Iraq speech, the president blamed the war for our bad economy.
New Math
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The House returned from vacation to pass a $26 billion bail-out for the dues paying, campaign funding, men and women who educate our children. According to USA Today, federal workers make more than you. Teachers aren’t federal workers but neither is the city manager of Bell, California (pop 40,000). He earned even more vacation and sick time than teachers, clocking in at 28 weeks, and way more in salary - $800,000 per year! He lost his job when word got out thanks to the LA Times. Now he has to make do with a $600,000 per year pension. Bail-out for California, anyone?
Voltwagon
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Fredrich Hayek’s 1944 classic Road to Serfdom has become a best seller again. He said that governments tend to plan production for political, rather than market, purposes. Government owned GM’s new Volt costs $41,000, runs on a battery, and gets 40 miles per charge.
Harpernomics
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Canada won Best Economy at the G-20 Summit in Toronto. Our northern neighbor has a declining 8% unemployment rate while we marinate in a 9.7% rate. Fortune says Canada’s winning ways are due to less public spending and no bankers gone wild.
GM Pays You Back
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GM paid off its TARP loan with money from its TARP escrow account, then used more of your money to buy ads to brag about it. Nick Gillespie explains on Reason TV.
E.U. Chain of Custody
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The busy beaver U.S. Treasury is consulting on the side. It advised the European Union on the benefits of bailouts. Here’s the NY Times story. And here’s a link to George Will on the chain of fools. He says, “Bailing out Greece really rescues European banks that improvidently bought Greek bonds”.
Understanding the Meltdown
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Stimulus
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All the States Above Average
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Arnold Schwarzenegger said on Meet the Press Sunday that the federal government owes the Golden State. He claims that his state only gets back $0.78 on the dollar from the feds while Alaska gets $1.86. (I accidentally cheated the mushers out of $0.56 in the cartoon.) Go here to see this part of the interview (if you don’t want to hear the whole thing you can fast forward to the 4:50 mark). In a later section of the interview he smacks the California congressional delegation for supporting the health care bill which he says will be an economic blow to their state .
Buy Buy Buy
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