The Cost of Political Gafts
Today, it has been announced that the Obama administration is going to spend $1,500,000,000 to shore up home loans in 5 states (California, Arizona, Nevada, Florida, and Michigan). He is announcing this at his town hall meetings in Las Vegas, the hardest hit city. This is nothing more than a political bribe. In each of these states members of Congress from the Democratic party are on the ropes.
A fine example of this is Harry Reid, the Senate Majority Leader, who is quickly on the way to the unemployment lines. As the campaign there continues, we are sure to see Reid swing sharply to the center to try and get the people of Nevada to think he is centrist, which his voting record contradicts, though that has never deterred a politico like Reid.
This is also a pay off to Las Vegas, after multiple gafts by our President, pointing out Las Vegas as the symbol for unwise spending by all us citizens. The repeated slanders against Las Vegas have put him at odds with the Mayor of Las Vegas whom refused to meet with the Obama because of this. I say good for Mayor Goodman, an independent and former Democrat.
Sadly, to help his buddies in Congress, we the American people are going to have to once again foot the bill. This bribe is only going to cost about $15 per taxpayer, though with out "progressive" tax system we know that some will pay far more of this $1.5B bribe than others. Furthermore, we learn where that money is coming from in the above linked article, it is coming out of the TARP bill.
TARP has become the never ending political bank, even though the provisions of the bill do not allow the money to be spent on other projects. The banks have been paying it back, but the administration isn’t returning it to the public or paying off our ever growing debt, it is using it as a slush fund to fund pet projects at our expense.
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Posted: February 19th, 2010 under Politics.