Tuesday, June 9, 2009

Obama's Economic Plan & Stimulus News

Kevin Hassett at Bloomberg has figured it out: tax businesses into "bailouts".

Also, last night Drudge linked to a Cincinnati Enquirer story about the stimulus. This little slice is typical:

In Woodlawn and Lincoln Heights, taxpayers will spend $100,000 to resurface one-seventh of a mile of Prairie Avenue, and install curbs for 20 houses along the way - a project that Rev. Jesse O'Conner hopes will stop the flooding in his basement. Without curbs or gutters, rainwater comes down the street and settles on his property.

So, to review, we borrowed $100,000 from the Chinese and/or inflationary money printing that the children from every state in the union will have to pay in taxes and lost wealth in a few years--all so some guy in Cincinnati can have his basement fixed for "free". And Obama says this will save the economy, all the while raising taxes on "rich" people and employers. The audacity of insanity. . .

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