Wednesday, January 27, 2010
The State of the Union will focus on "fiscal discipline" a year after the government passed an $850 billion "stimulus" boondoggle that stimulated nothing. Of course the President won't mean anything he says, except that he wants to spend more and more money that this country does not have.
The President will also announce a new Stimulus Bill, since the one last year did so much good for nobody. This one will be much much smaller than the one last year. Oh, that should do nothing at all. Political graft, corruption and paybacks is what we had from the last Stimulus Bill.
The AP now reports that the Obama administration will announce an $8 billion plan to launch high-speed rail corridors around the country. You can already imagine land being seized in imminent domain and lawsuits from environment groups and tax payers feeling a pain in their wallet.
Talk about a massive white elephant that will put the "Big Dig" in Boston to shame. If AMTRAK can't make a dime, does anyone think a new rail system won't require massive subsidies for a far as the eye can see? It will be sold as a "jobs" program, but we all know better. We all know that when government "creates jobs", more jobs are lost in the country to pay for them than are created.
Again, these rail systems will be built by union labor, train engines built by GE- a major supporter of the President. You can also bet it will cost a lot more than $8 billion to even get several of these projects off the ground.