I try to find nice things to say about Corey, I honestly do. He just makes it such a difficult job. This latest affair with the mic is no exception. It seems that the county is slated to receive $122 million dollars from ARRA. (America Recovery and Reinvestment Act). Considering our real estate woes that have produced extreme revenue difficulties, I would think most Prince Williamites would be jumping for joy. Not Corey.
According the News and Messenger, Corey is stepping on his lower lip because we get this money.
Prince William County has been allotted an estimated $122 million of federal stimulus funds, and more could be on the way, but chairman of the board Corey Stewart said taxpayers ought to think twice before extending any thanks to the government.
“It strikes me, taxpayers have a right to be angry here. It’s the young people [who are] ultimately going to have to pay this back,” he said, at a recent Board of Supervisors update on the disbursement of dollars from the American Recovery and Reinvestment Act, a $787 billion federal package that was signed into law Feb. 17.
Though $122 million sounds on the surface a sizeable amount, the truth is the county will pay back far more, he said.
“Prince William’s share of this debt is approximately $1.3 billion,” Stewart said. “So we shouldn’t be thankful for the federal government. That’s our money. If we’re going to be borrowing money on our youth … we should at least build something for it [like roads]. Clearly, we’re getting the short end of the stick.”
Education receives the greatest share of the ARRA funds, with just over $80 million, according to information from Dana Fenton, legislative director for the county. Economic development and transportation are next on the list of top ARRA fund recipients, at $28 million, followed by energy and environmental causes, with $8.9 million, according to fenton. Public safety receives just 1 percent of the Prince William pot, or $1.1 million, while human services programs, like homeless prevention and senior nutrition, get 3 percent, or $4 million, Fenton’s breakdown shows.
No one likes the national economic condition. But we narrowly avoided a serious depression. We still aren’t out of the woods yet. The county had to drastically cut back personnel and services. Non-school board county employees did not get a raise.
What’s wrong with Corey? I don’t understand his math. Prince William County got pummeled by the real estate market, foreclosures, tax revenue, and housing appraisals. We are going to need all the help we can get for a while, until we recover. Why can’t Corey see this? Maybe he does see it. maybe he just wants to be rude. Does he think it is macho or Republican to talk like this? Corey has Joe Biden syndrome. Stick a mic in front of him and he is bound to say something ridiculous.
Personally, I am very grateful that the federal government is saving Prince William County from the full impacts of Corey Stewart’s disastrous mismanagement of our county government.
It’s no surprise that Corey seems to have found a new set of talking points to climb the ladder in the national GOP. He used to think anti-immigrant demagoguery was going to make him a household name and perhaps VA governor. But that didn’t work out so well, so he is simply mimicking Bobby Jindal. Next thing we know, Stewart will be taking credit for the economic recovery that this legislation will and is bringing about.
The odd thing is, Stewart is a very good talker. Whatever talking points are poured into his brain, he can put a pretty good spin on them. Funny how he wasn’t too worried about soaring deficits and soaring debt when his cosmic twin George W. Bush was our President. Money is the fuel that runs our government. Bush and Stewart have each spent a lot of it to run us off a cliff. The Obama administration has been forced to spend to help our country avert the dire consequences of many years of governmental neglect and mismanagement. It takes money to destroy our economy (while the wealthiest 1 percent benefits) and it takes money to rebuild it too (while the rest of us stand to gain).
When I see a chance to get some of “my money” (our money) returned to “my community” (our community) instead of going to some unnecessary earmark in another state or a trip abroad for our representatives in Washington, I say “go for it!” Unless I missed the memo exempting folks in Prince William County from paying Federal Taxes, “damn right” I want my tax dollars returned in any form possible.
If anyone ever had any doubts about true feelings of those who pushed the Resolution, all they have to do is go to the dark screen and see how the Master Puppeteer handled the West Gate tasering incident.
It was up for grabs to see who the Puppet Master hated worse, Charlie Deane or Hispanics. Hispanics won by a mile. Charlie’s boys are back sitting at the right hand of God or so it seems. Maybe Charlie’s boys who speak Spanish got a dig or 3.
Predictably, the minions all chimed in as expected.
Old PM is generating so much hate over there he and that tiger are going to melt right into a pool of butter as they chase around that tree. He will be a butter pool before he takes Ms. Rischell to court as he threatens. Wonder what politico will support that court effort thing?
Black Velvet Reporter,
It would appear that you might be working publicity for BVBL in an attempt to leverage the free publicity generated by his comments about Ms. Rishell to improve his “hit rate” (and perhaps his advertising revenue).
I would suggest that, in BVBL’s case, no publicity is the best publicity. I wish I were the anti-BVBL blog administrator so I could delete publicity stunts such as this.
Corey is playing politics and getting his right-wing GOP
ticket stamped (surprised??). He will snarl and posture
and then take the money.
I dunno, Opinion. I hear you but do you really think it was Sleazy Greg’s goal to have most of the discussion generated on this blog instead of his own. I’ll bet a big reason why he is behaving like Limbaugh on speed is his own frustration. All that work and the best he can do is unanimous ridicule on somebody else’s blog? To add insult to injury, it’s the blog that neutralized his influence?
I do agree with you about the Recovery Act. First off, I prefer the mighty tax dollar being invested in America’s future, education, and infrastructure rather than billions in tax breaks for Exxon and other oil profiteers, trillions in contracts for Halliburton and other war profiteers, and infrastructure in Iraq where we never should have spent a dime.
Secondly, if we are going to spend money at home, you better be fighting fo some of that money to come to our county, Corey Stewart. It’s a good thing you are not on the radar of the national scene. Otherwise we could get screwed in the process of your posturing.
This is a tough one moon…one part of me agrees with you the other part of my analysis of the consequences does not. We need the money, but at what cost. It does not come for free.
I am not an economist, but I have done my best to follow the root cause of one of the largest economic disasters our nation has ever experienced so far eclipsed only by the great depression and I am looking at the entire picture, about a 20 year span if you study the great depression.
Most of you already understand or heard my analysis of the huge contribution “illegal” immigrants and former “illegal” immigrants made to the the economic woes we now face, and this analysis will stand in its proper light in the history books, and you have heard my analysis of the contribution of finanncial system corporate greed and corruption in taking advantage of “illegal” immigrants and former “illegal” immigrants in order to make huge sums of money, reduce their own capital reserves, push risk off on insurance companies, pay for policy premium “default swaps” by charging higher fees, discount points, origination fees and adjustable rates (all hidden in the initial interest lock-in rate) to people who could never afford homes in the first place without government assistance (fannie-mae, FHMA, and freddie-mac FHLMC) government policy giving privilige and preference to minority mortgage applicants in the disguise of the Fair Housing and Lending Act that demanded racial balancing and diversity concepts be applied to home mortgages.
These political pressures and ecomonic incentives (tax and wealth incentives, and the removal of Glas-Segal and all forms of government oversight in the lending process from top to bottom, culminated in an economic train wreck in Sep 2007, that left hedge funds managers 1 billion dollars each richer, international short sales investors and international lenders 1.3 Trillion dollars richer in trade deficits, and the individual consumer 28% poorer (with an additional 50% retirement fund losses) than they were in 2001.
So with the money gone in TARP 1,2,3 & 4 to international banks (China and India) to pay off trade deficit and hedge fund debt clearing processes and contractual obligations, insurance premium holder debt, etc. Where is the money that is not currently in the US Treasury to pay for the ARRA (1.3 Trillion Dollars, plus 3.0 trillion dollars accrued interest going to come from?
Well….Corey is right, it is going to come from an economy that slides to the right with almost zero growth for about 20 years, a stock market that only climbs to its 2004 level and flattens while cycling up and down in very small hedge fund driven shorts and long positions to make money off of a flat, non-growing economy, and from a declining tax base of only 180 million taxpayers out of 306 million Americans that need to be fed and clothed, and an additional 100 million American babies that will be born in the next 10 years, and MOST importantly the money to pay ARRA and the debt of ARRA will come from BORROWING more than the current 500 billion we currently owe China and 800 billion we own the rest of the trade surplus countries in the world.
When the government over the next 20 years tries to pay back the loans to other countries on that 4.5-9.0 Trillion in international interest loan debt, it will suck what it can from 180 million tax-paying middle income Americans (about $50,000 of additional tax above what we now pay per middle income family , shift wealth to the growing percentage of low income poor and low income illegal immigrant poor (about 45 million Americans) and either print more money to make up the difference (lowering the value of our dollars and standard of living against international currency, or borrowing even more money from china, india and other trade surplus countries.
Esentially the cost of this will lower America’s average standard of living 30% below what it is today, and we will live in a world of high cost labor and goods very much like europe lives today.
This will provide China and India the economic boom opportunity they need to make then the next major economic world power, achieving and surpassing our current standard of living.
I’m not so sure (and neither is Corey) that $180 million extra ARRA government loan “grants” from the US government for Prince William country is worth this future cost for today’s small “ration”. The right path my mind is do nothing except let the regional economy balance itself back out again (i rose aretifically due to “illegals” overpopulation, corruption and greed), and to come out of this long sideways suffering period with no debt, increased savings and thrift, and led market forces take us back out of depression like in 1930-1945, not the US government which actually for the same reasons prolonged the first depression until regulations and oversight could remove greed and corruption.
Though my figures are not exact here are the references, you do the math.
$787 Billion of ARRA goes only to cities (not the low income rural poor).
http://www.recovery.gov/
Most goes to education, roads and projects that benefit only the lower 20% income level of the population making them about $5K richer, and the middle income family about 10K poorer after the first two years. With the exception of teachers salaries (and that is good), it will not fund higher grades (Higher GPAs) and more college degree programs for the upper income and middle income bracket families that also typically have lower percentages of drop out rates and higher completion rates in college education. Most of the money will go to construction workers and we all know that is mostly “illegal” immigrants.
The US trade deficit in 2005 was 817.3 Billion, it is now in 2009 estimate at 1.3 Trillion (580 some billion with China alone)
The United States of America has held a trade deficit starting late in the 1960s. It was this very deficit that forced the United States in 1971 off the gold standard. Its trade deficit has been increasing at a large rate since 1997 [35] (See chart) and increased by 49.8 billion dollars between 2005 and 2006, setting a record high of 817.3 billion dollars, up from 767.5 billion dollars the previous year.[36]
In 2006, the primary economic concerns centered around: high national debt ($9 trillion), high non-bank corporate debt ($9 trillion), high mortgage debt ($9 trillion), high financial institution debt ($12 trillion), high unfunded Medicare liability ($30 trillion), high unfunded Social Security liability ($12 trillion), high external debt (amount owed to foreign lenders) and a serious deterioration in the United States net international investment position (NIIP) (-24% of GDP),[2] high trade deficits, and a rise in illegal immigration.[15][14]
http://en.wikipedia.org/wiki/Balance_of_trade
Despite consumer concerns about “tainted” products from China, calls from media pundits to put tighter controls on Chinese imports, and presidential candidates from both parties stumping on related issues, Americans continue buying imports from China at record rates. Retail outlets continue to provide vast quantities of Chinese-manufactured goods; buyers spent more than $266 billion on those goods between January and October 2007. (According to the U.S. Census Bureau’s Foreign Trade Statistics report, that figure is already on its way to outstripping last year’s record of $233 billion.) The point of contention, however, is that, during the same period in 2007, the United States exported $52 billion worth of goods to China–which continues to draw the attention and ire of politicians and pundits.
Today in 2009 that estimate is close to 500 Billion.
http://www.hoover.org/research/focusonissues/focus/12436706.html
Mr. Manzullo says his district is among those feeling the heat from China. Unemployment in Rockford, Ill., is now 11.3 percent. Machine tool manufacturers, tool and die companies, and bolt and screw manufacturers are all struggling.
One of those who has testified at the end of June before Congress is businessman Jay Bender of Falcon Plastics Inc. in Brookings, S.D. In an interview, he recounts how one of his customers, a manufacturer of fishing lures, has decided to move its production from the US to China. This would allow the company to cut its manufacturing costs by half. It asked him to bid on molds to make the plastic bait. He bid $25,000 per mold. “That was a competitive price,” he says.
Instead, the company found a Chinese source for $3,000 a piece. “I can’t even buy raw materials for that,” he says. “There are two possibilities: Either they are subsidized by the government or they gave away the molds to get the manufacturing business,” says the businessman, who has to lay off 30 percent of his workforce so far.
Compare this to the government giving us all a tax rebate (if we are low income and qualify, of $250.00 each, now that is really going to stimulate small business technology innovation to compete on a global scale.
There is very little in the ARRA for technical innovation, and none in Prince Williams 122 Million goes for technology innovation startups that can compete with $1.5 dollar per hour chinese wages.
People are kidding themselves if they think we are on an “economic recovery” and “narrowly avoided a serious depression” that can be solved with $787 billion in ARRA money to pay teacher salaries, build roads to pay “illegal” immigrant workers and give all of us $250.00
It ain’t getting any better and hasn’t since 1997. The stock market has been relatively flat since 2001.
(From Harvard Business Review, July/August 1997)
Most economists believe that the US economy is currently very close to, if not actually above, its maximum sustainable level of employment and capacity utilization. If they are right, from this point onwards growth will have to come from increases either in productivity (that is, in the volume of output per worker) or in the size of the potential work force; and official statistics show both productivity and the workforce growing sluggishly. So standard economic analysis suggests that we cannot look forward to growth at a rate of much more than 2 percent over the next few years. And if we – or more precisely the Federal Reserve – try to force faster growth by keeping interest rates low, the main result will merely be a return to the bad old days of serious inflation.
Im 2009,
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — decreased at an annual rate of 5.5 percent in the first quarter of 2009,(that is, from the fourth quarter to the first quarter), according to final estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP decreased 6.3 percent. The GDP estimates released today are based on more complete source data than were available for
the preliminary estimates issued last month. In the preliminary estimates, the decrease in real GDP was 5.7 percent The decrease in real GDP in the first quarter primarily reflected negative contributions from
exports, equipment and software, private inventory investment, nonresidential structures, and residential fixed investment that were partly offset by a positive contribution from personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, decreased.
Likely Impact on Financial Markets:
Interest Rates: Unexpectedly high quarterly GDP growth is perceived to be potentially inflationary if the economy is close to full capacity; this, in turn, causes bond prices to drop and yields and interest rates to rise. Also, higher than expected GDP growth, i..e. good news about the economy, is bad news for the bond market because a strong report causes concern that the Fed might raise the Fed Funds rate to avoid higher inflation. This is bearish for the fixed income market.
Stock Prices: Ambiguous. On one side higher than expected growth leads to higher profits and that’s good for the stock market. On te other, it may increase expected inflation and lead to higher interest rates that are bad for the stock market.
Exchange Rates: Larger than expected GDP growth will tend to appreciate the exchange rate as it is expected to lead to higher interest rates.
The reverse of this is true with declining -6.3%GDP.
The worst of it is, the GDP since 2003 has been holding flat at a little over $10 Trillion dollars, and has been falling since April 2008 (before the Sep 2007 stock market crash), it will not likely recover as the current administration takes the nation into 4-9 trillion dollars in debt over the next 10 years.
http://www.data360.org/dsg.aspx?Data_Set_Group_Id=353
How much money is $787 Billion in ARRA money compared to that?
$787 billion = $4387 dollars per wage earning family (big deal)….
The cost? 4.5-9 Trillion in debt = 50,000.00 per 2 couple US family, $150,000 per 6 person family.
And it ain’t going to get any better as our standard of living continues to drop close to 30%, inflation goes up, overpopulation and “illegal” immigration growth continues, and the average national hourly wage (salary) of $18.00 per hour drops to $11.00 per hour as “illegal” immigrants continue to undermine the value of labor in the nation.
The stock market has been flat since 2001? ugh? What country? Surely not this one.
meanwhile, back to whats best for Rrince William County? Sounds like poor Richard is right on the money again. Conservative ticket stamped.
I think we need to maintain the quality of life in pwc and stop worrying about Corey’s politic aspirations.
For what its worth, over the next 8-10 years, you will likely see the same or similar GDP decline as the 1930s though hopefully shorter, unless China refuses to loan us money (and if they do they can send us into a depression deeper than the great depression). In 1929, the stock collapse started a drop from 800Billion GDP, to 600 billion GDP taking 5 years to reach the lowest point in 1933 of the depression, and then another 4 years to recover to 800 billion, a 10 year depression.
http://en.wikipedia.org/wiki/File:Gdp20-40.jpg
If illegal immigrants continue to overpopulate the US, and 12 million “illegal” immigrants grows to 30 million “illegal” immigrants as predicted and if they are continues to be allowed to remain and compete for those declining wages and declining numbers of jobs at $7.25 per hour or less, you will not see an “increase” in wages, you will see a large drop in the median standard of living of the nation, and “pea picking” will become known as a “high paying job” for all but the top social elite, that is always insulated from the depravities of a great recession.
http://en.wikipedia.org/wiki/File:Gdp20-40.jpg
Moon, you are absolutely the most flippant person sometimes, you believe in things but don’t check your facts often enough.
In 2000 the DOW was 11,000 It dropped to 7,000 in Sep 2008, it is now 9,000, barely back at its 2004 level.
Go here:
http://money.cnn.com/quote/chart/chart.html?symb=djia&sid=1643&time=10yr&Submit1=Refresh
Click on “Decade” and see the “growth you “imagine”. You see fanstasy where you want to see reality, as long as it discredits someone else with the political agenda you want to convey (or ignore by evasive talk).
The final attempt of the Hoover Administration in 1932, to stem the tide of home foreclosure, and loss of wages and jobs, to stimulate the economy was the passage of the Emergency Relief and Construction Act (ERA) which included funds for public works programs such as dams and the creation of the Reconstruction Finance Corporation (RFC) in 1932. The RFC’s initial goal was to provide government-secured loans to financial institutions, railroads and farmers. Quarter by quarter the economy went downhill, as prices, profits and employment fell, leading to the political realignment in 1932 that brought to power Franklin Delano Roosevelt. The RFC did not work as people continued to default on loans, banks collapse, the money supply increased, interest rates rose, banks would not lend, businesses could not re-finance, workers were laid off, immigrants competed for limited jobs at lower wages, inflation rose and money to spend on anything other than necessities dropped the GDP to an all time low in 1933 and 1934.
The Securities Act of 1933 comprehensively regulated the securities industry. This was followed by the Securities Exchange Act of 1934 which created the Securities and Exchange Commission. Though amended, key provisions of both Acts are still in force. Federal insurance of bank deposits was provided by the FDIC, and the Glass-Steagall Act. The institution of the National Recovery Administration (NRA) remains a controversial act to this day. The NRA made a number of sweeping changes to the American economy until it was deemed unconstitutional by the Supreme Court of the United States in 1935.
Early changes by the Roosevelt administration included:
Instituting regulations to fight deflationary “cut-throat competition” through the NRA. Setting minimum prices and wages, labor standards, and competitive conditions in all industries through the NRA. Encouraging unions that would raise wages, to increase the purchasing power of the working class. Cutting farm production to raise prices through the Agricultural Adjustment Act and its successors. Forcing businesses to work with government to set price codes through the NRA.
In 1929, federal expenditures constituted only 3% of the GDP. The national debt as a proportion of GNP rose under Hoover from 20% to 40%. Roosevelt kept it at 40% until the war began, when it soared to 128%. By 1936, the main economic indicators had regained the levels of the late 1920s, except for unemployment, which remained high at 11%, although this was considerably lower than the 25% unemployment rate seen in 1933.
Then the American economy took a sharp downturn, lasting for 13 months through most of 1938. Industrial production fell almost 30 per cent within a few months and production of durable goods fell even faster. Unemployment jumped from 14.3% in 1937 to 19.0% in 1938, rising from 5 million to more than 12 million in early 1938.[70] Manufacturing output fell by 37% from the 1937 peak and was back to 1934 levels.[71] Producers reduced their expenditures on durable goods, and inventories declined, but personal income was only 15% lower than it had been at the peak in 1937. As unemployment rose, consumers’ expenditures declined, leading to further cutbacks in production.
By May 1938 retail sales began to increase, employment improved, and industrial production turned up after June 1938.
There has always been debate among politicians and scholars as to whether New Deal policies lengthened and deepened the Depression. One small voluntary response survey from 85 PhD holding members of the Economic History Society, which the author stated may not be representative of all economic historians, showed that there were statistically different opinions between economic historians who taught or studied economic history and those that taught or studied economic theory. The former were in consensus that the New Deal did not lengthen and deepen the depression, while the latter were more evenly divided.
Bernenke will focus on controlling the money supply (of the Federal Reserve) to attempt to prevent the previous history from repeating itself. He as in the past will not be able to stop people from being laid off, as production stops, “illegal” immigration populations increase, pressures from international goods trade deficits cause wages to drop globally, and “illegal” immigrants from taking less wages, while producing less exportable goods, and increasing consumer prices and consumer debt burden is it becomes “heavier” as the value of the US dollar drops on the international market.
Technocal innovation and investment BY government in technical innovation is the only thing that can balance the cost of labor, productivity increase and cost of goods that remain lower (by volume) rather than inflated. WWII created this productivity increase and rapid government investment in technology and ended the depression for the US.
I get it now…I am being filibustered because I spoke out against the King of Prince William.
The topic is the economic downturn, what Corey has to say about it and the stimulus money.
Sorry Michael, gotta get you back on topic here.
Thus ends the saga of why $122 million dollars for PWC doesn’t mean crap in the grand scheme of reversing depression, unless invested into technical, competitive global innovation and increased productivity and sales, by small business, which is NOT the target audience of the ARRA.
I am on topic Moon, you are just not listening. The issue is the effectivness of $122 Million compared to the economic cost of it not stimulating small business global productivity and competitive product development. The history lesson is to show you why, the topic comments are “myopic” and “short-sighted”, simply targeted at people’s hatred of Corey, and not really about what will improve the economy.
You can insult or you can learn, your choice.
Michael, I didn’t insult you. I was rather friendly about getting back to topic. Do you not see something rather egotistical and presumptuous about telling someone that I basically let you take over my thread and that I can learn from you?
I would not tell another adult that they could learn from me, even if I thought so. Social skills 101.
How about if I just cut off the juice for the night? I will probably get a standing ovation. Here it is, Michael. You are being an overbearing, longwinded egotist. I am being a nasty bitch. I have spent the past day and a half rebuilding a computer and all the data. Yes, I have more than one. I just happen to like that one. I am tired, grumpy, short of patience. I didn’t really have the time to slap up a new topic, but I took the time because we spoil you all. I did not put it up so someone could do a running monologue on global economics.
Can you say MODERATION?
moon, hahahaha!
Consider it time out, not forever. I am protecting us both on this one.
I respectfully submit that Michael needs his own blog so people interested in his opinion may seek it out.
Opinion,
I like your thinking.
I agree – does anyone actually read through all those posts? MH probably said what a lot of people are thinking.
Moon,
Thank you. My scrolling finger was starting to cramp up.
Witness too said “Funny how he wasn’t too worried about soaring deficits and soaring debt when his cosmic twin George W. Bush was our President. Money is the fuel that runs our government. Bush and Stewart have each spent a lot of it to run us off a cliff. The Obama administration has been forced to spend to help our country avert the dire consequences of many years of governmental neglect and mismanagement. It takes money to destroy our economy (while the wealthiest 1 percent benefits) and it takes money to rebuild it too (while the rest of us stand to gain).”
Admittedly, I am not a fan of the economic “stimulus” plan (which is not an stimulus for the economy, but instead a spending bill–some for spending on good stuff, some for spending on questionable stuff, some for spending on bad stuff–but all spending based on borrowing money).
The comment made by Witness Too is striking because he/she essentially says that Bush’s spending has “run us off a cliff,” but Obama’s spending will help us. I just don’t see how an economic situation that was the result of overspending and overextending (by government, private industry, individuals) is going to be solved by more overspending and overextending. But, I’m willing to “learn” as Michael suggests–so, can someone please teach me how this is supposed to work?
There was a report on WTOP this morning about stimulus money that was supposed to go to bridges very much in need of repair. Instead, so far it has mainly gone to bridges that were in fine shape and could have waited 10 years or more for repairs. So far, a lot of this stimulus money appears to not have been directed to where it’s needed. If that’s the case, all we are doing is increasing the national debt without spending money wisely. There appears to have been a rush to spend the stimulus money, just like there’s been a rush to jam leglislation through that is not well thought out. One can say it is urgent to do something to help the economy, but so far everything that has been done appears far too rushed and not well thought out. This is just my opinion of it. It also is debatable how much this spending has helped the economy. The “cash for clunkers” program is said to cost the gov’t as much as $20K/car when all is said and done. So far, it has been said the auto industry was seeing an upturn without it. It is an admirable goal to get low fuel economy cars off the road, but is the cost worth it?
Cash for clunkers is almost out of money
http://money.cnn.com/2009/07/30/autos/cash_for_clunkers_suspended/?postversion=2009073105
Congress may have to suspend it because they are close to the billion dollar mark (in fact, they may have already passed it).
I believe that jurisdictions got sucked in because of the words ’shovel ready.’ I think they raced around to get the money and didn’t spend it on the best choices. How many projects of any magnitude are really shovel ready?
Huge, long lasting projects were undertaken during the Great Depression. These projects are still alive and kicking. Too bad as much thought wasn’t put into our current situation. I don’t blame either administration. One is not more guilty than the other. And something had to be done.
Conservatives howled about much of the New Deal and the Second New Deal. Seems like not much as changed. Fannie Mae, Social Security, SEC, TVA, FDIC are all alive and kicking. The fine work done by constructions crews is still exist: Skyline Drive, Merritt Parkway, Hoover Dam, Boulder City just to name a few.
The velvets aren’t very careful readers. They must have missed my post from yesterday.
Question-“Anonymous said on 31 Jul 2009 at 11:48 am: Flag comment
Isn’t it interesting to note that the “bright side” blog has completely ignored this subject. I wonder why?”
Answer-Give fools enough rope and they will surely hang themselves. The black velvets are so programmed that they don’t even realize what they have done.
Push me///Pull me Greg had a conflict. Bad Latinos or Bad Charlie. Nasty has to ooze out somewhere though. Looks like the Latinos won.
According to the NYT: @You Wish
I hope Cash for Clunkers is not dead. I was kicking myself for not getting around to it.
I wonder is some of the same haters who jumped at the chance to comment on the taser incident were also jumping on President Obama for commenting while facts were still coming in. They are blind to so many things, but hypocricy is high on the list.
Corey’s comment reminded me of what a dolt in my neighborhood said when we were trying to qualify for some block grant funds to augment a neighborhood project. The guy said, “I won’t sign your petition because I don’t want to pay any more taxes”. Duh. The taxes had already been collected. I guess he would have preferred that the funds go to Oregon rather than his own neck of the woods.
Censored, seems to be a lot of that going around.
It would be silly for PWC to turn down the stimulus money, given that doing so would not exempt its residents from its future ill effects (e.g. inflation, higher taxes to pay of the debt).
It’s too bad there are so few fiscally responsible Democrats left in Congress. It would make more sense to turn down the money if there was a nationwide movement for counties/towns/states to turn down the money. Senator William Proxmire (D-Wisconsin; now deceased) used to issue the Golden Fleece award for wasted tax dollars and pork barrel projects. I am hoping that someone like him might emerge in the Democratic party to help turn the tide against this unprecedented wasteful spending.
As long as it’s done in moderation, I would not mind if dollars were used to improve the nation’s infrastructure (dams, interstates, oil refineries).
I do object to spending in which the precise use of the money is not specified. The stimulus package invites fraud, waste, and abuse because Congress invites states and localities to use the money in practically any way they please. There is absolutely no guarantee that anything useful will come out of the spending, but human nature virtually assures that much of the money will be lost through graft and corruption. The money would be much better spent if states had to apply for individual projects, i.e. build a new dam.
I also object to spending in which there are no pre-defined limits. When we add entitlements such as Medicare, Social Security, or guaranteed healthcare, Congress effectively loses control of the budget. Once enacted, entitlements “have” to be funded regardless of which party is in power and irrespective of work force/population expansion/shrinkage. I view the “Cash for Clunkers” program as much more palatable, because Congress must still vote on whether to continue the program and on how much money to allocate.
Conservatives howled about most of the New Deal and 2nd New Deal programs. I agree that I would like to see more checks and balances. I believe states were put under the gun to hurry and be ready which is equivalent to use it or lose it vacation time or use it or lose it budgeting.
For Corey to turn up his nose at PWC getting money is pure blarny. City of Manassas is very excited about being awarded money.
WaPo Style Invitational (8-1-2009, tourist slogans for cities
and towns)-
“Woodbridge: The Perfect Place for YOU, if Dale City Seems Just
a Little Too Urbane”.
How did they spell ‘Woodbridge?’ Was that with a W or an H?
Manassas: Oueen City of the Flat Branch Drainage District!
That’s horrible. How about Occaquan?