Frisco_Slug_Esq
On Strike!
- Joined
- May 4, 2009
- Posts
- 45,618
The $145 billion “extenders” package that the Obama administration and its allies in Congress are attempting to pass has revealed most of what they told us publicly over the last 18 months — about the stimulus, the health-care bill, the budget deficit, and taxes — to be a gusher of lies. BP has apparently plugged the hole that was hemorrhaging oil into the Gulf. Who will plug the hole Obama and his never-ending stimulus have blown in the U.S. budget?
The $145 billion is above all an extension of the $800 billion stimulus bill that passed last year. We were promised that the stimulus would be a temporary expenditure to boost private-sector employment. The details revealed its true purpose: Its biggest components were a bailout for state governments and an increase in federal assistance to the unemployed.
The Obama administration’s jobs strategy is to keep high-paid government workers from sharing the ongoing pain being felt in the private sector. As David Einhorn noted yesterday in a portentous New York Times op-ed, the private sector has cut 8.5 million from its payrolls during this recession, while local governments have let go only 141,000. Got a government job? You’re safe. Lost a private-sector job? Here’s your unemployment check — and be sure to vote Democrat next time, to keep those checks coming.
The problem with this strategy (security for government employees, welfare for the unemployed) is that it requires constant infusions of borrowed cash, hence the extenders package now before Congress. The bill contains yet another extension of unemployment benefits for those whose aid was set to expire, and yet another bailout for strapped states and municipalities.
The Editors
NRO