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Thursday, May 14, 2009

Spreading the Addiction

The Obama Adminstration and the Democrats in Congress have been spending money by the truckload, money that didn't exist up until a few weeks ago. They're not getting it from taxes, they're getting it from the Fed, who is simply conjuring it up out of thin air. It's like crack cocaine for these people. It's completely addictive because it allows them to throw money all over the place and not have to propose tax hikes.

Now California, long the perfect laboratory for progressive policies, wants in on the act.
California Treasurer Bill Lockyer asked U.S. Treasury Secretary Timothy Geithner on Wednesday to authorize assistance for his state from the federal Troubled Asset Relief Program, warning that depressed tax revenues may cut into basic services and halt the building of infrastructure.

In a letter, Lockyer asked Geithner for TARP assistance for California and "other financially strapped states and local governments which face a severe cash flow crunch."

"If we cannot obtain our usual short-term cash-flow borrowings, there could be devastating impacts on the ability of the State or other governments to provide essential services to their citizens," Lockyer wrote.
Rather than confront their problems, the California Legislature is turning to the Federal government to hand them crack cocaine money out of thin air.
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1 comment:

  1. Mostly Nothing5:22 AM

    Couple of things I heard this morning on the radio.

    To pay for all this now, the Federal Government would have to lower the top tax bracket down to $125,000 a year (I think that's single, not married, but I don't know). They would have to have a 56% tax rate. Then the State of Minnesota would have to charge 12% on these people. I missed the Social Security rate. But it ended up someone making $125,000 would take home $25,000.

    The second thing was about the dealerships that Chrysler wants to close. They are all the most successful dealerships. The good ones that people like going to. But since the owner has other non-Chrysler dealerships, the government has decided that it would be 'more fair' to give the dealerships that people don't want to go to because they are slimy and do a bad job should be the ones to continue on.

    I tried to by a Dodge one time, just out of Grad School. It took days to get the slime off me, it was sickening. The horrible dealer killed the deal for me, on what would have been a good car for me.

    Can the US survive 4 years of this administration?

    Hello, John Gault.

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