The administration has been spending a lot of time and cash recently to push the story that the Vote Buying Act Stimulus Bill has been a rousing success. Joe Biden has launched a nationwide Recoverpalooza tour in yet another attempt to pull up poll numbers so low that they can only be heard clearly by elephants. The President has even gotten in on the act, but it won’t help much. The Heritage Foundation effortlessly demolished the entire Stimulus Summer kabuki theater tour in one paragraph:
Today, President Barack Obama will attend a groundbreaking ceremony in Holland, Mich., for a South Korean-owned factory that will make batteries for electric cars. The purpose of the trip is to highlight the “success” of the President’s $862 billion economic stimulus package which the White House claimed yesterday has already “saved or created” 3 million jobs. Specifically, this factory is being subsidized by $151 million of stimulus funds from an even larger $2 billion honey pot of stimulus money set aside for electric car battery investments. This one plant is expected to employ 300 workers. That works out to more than $500,000 per job created. $500,000 per job. This plant, in a nutshell, explains why the President’s stimulus plan has been an objective failure.
The questions here flow like water. How many jobs could the average private company create with $500,000? How much money was simply flushed down the toilet in bureaucratic overhead — money, by the way, we never hear anything about once it’s taken from us? Why is the administration, which has screamed louder than a crate of howler monkeys about “buying American” sending $151 million to a South Korean company? Why is the government pushing money into an industry in which we taxpayers have very little interest (since if we wanted batteries for electric cars,we’d buy them)?
These are questions you ask only if you care about what happens to the money you’ve taken from hard-working families. If you treat your power to take money from the Forgotten Man as a nigh-sacred trust, then the answers to those questions mean a great deal to you. The answers may lead you to decide that yanking trillions of dollars from the future of America to fund your pet projects and favored campaign contributors is a rank violation of that trust.
If you really don’t care — if you hold the belief that Philip Klein boils down to “government is ultimately entitled to all money earned in America, and anything it collects short of that represents a ‘cost’”, then the answers aren’t important. You are free to stand near one of your insanely overpriced advertising signs and crow about the three million imaginary jobs you’ve created or “saved” without your conscience twinging even a little bit.
Category: The Economy and Your Money