Obama's Pork Barrel Is Open – And It Is Stinking

by Gerald Warner - February 15th, 2009 - Scotland on Sunday

There is no terminology available to express adequately the appalling irresponsibility of this naked political banditry. To have squandered a fraction of the near-$1 trillion cost of Obama's pork barrel in days of prosperity would have been more than reprehensible; to do so at a time of financial crisis is unforgivable. Obama likes to pose as the heir of Abraham Lincoln: as this shameless bribery demonstrates, he is heir only to the Chicago Democrat political machine that spawned him.

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For do not forget that Timothy Geithner, the Treasury Secretary who displays a boyish unfamiliarity with tax returns, is standing by to throw a further $2.25 trillion at banks. If you add up the US government's commitments, the sums are: Federal Reserve, $5.5 trillion; Federal Deposit Insurance Corporation, $1.5 trillion; Treasury, $947 [billion]; Federal Housing Administration , $300 [billion] – total $8.34 trillion. There is, however, one key component missing: the costs of nationalising Fannie Mae and Freddie Mac, which adds $5 trillion, producing the grand total of $13.3 trillion.

It is not just the amount. It is the useless anti-business pro-goverment waste of it all. This agenda is the equivalent of rushing to the promenade stores on the Titanic to buy fancy toys which you can hold closely while you drown.

The national debt was under $11 trillion at the end of the year. In this last six months we have committed the American taxpayer to spend more than that ON TOP of the national debt.

America has gone insane. The vote for Obama was the first evidence. That only 37% approve of this bill while 81% think Obama is doing a good job can hardly be called sanity.