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Regulating Our Way to Recovery(0)
Tucked in the massive stimulus bill passed by the House Appropriation Committee is a $4.5 billion appropriation for the Army Corps of Engineers. While the vast majority of the appropriation is for the construction of new water resource projects and for the backlog of maintenance of existing water resource projects, there is also a [...]
Full Story»Shock, Shock–Politics Infects Federal Bail-Out
Who would have imagined that the honorable Barney Frank, head of the House Financial Services Committee and chief culprit in the Fannie Mae/Freddie Mac disaster, would manipulate the bank bail-out for the benefit of his friends!?
Reports the Wall Street Journal:
Troubled OneUnited Bank in Boston didn’t look much like a candidate for aid from the Treasury [...]
Avoiding Political Erectile Dysfunction
According to the Congressional Budget Office, “Bailout to Nowhere” money for the proposed new infrastructure stimulus won’t be spent within the next two years–far too late to do anything about an ailing economy (granting for the moment that such spending is stimulative rather than destructive, which it isn’t). According to the Washington Post:
Less than half [...]
Trillions for Nothing
Barack Obama claims his plan “will likely save or create three to four million jobs.” The House gave us a glimpse of what we’re in for last week with an $825 billion bill – page 3 of the bill states a goal “of using at least 50 percent of the funds for activities that can [...]