I know I have been silent over the past month(s) about political things but something struck me rather strange yesterday with Obama’s jobs program and the TARP funds.
As many of you know, the President has developed a jobs bill to stimulate the economy and that is a good thing BUT he is funding it with the unused TARP funds. The TARP funds were borrowed to bail out banks and now that they no longer need the funds and, in fact, are beginning a pay back to the government then the funds appear to be no longer necessary.
My problem with this is that the TARP funds are borrowed money that increased the debt level and if they are not going to be used for that particular thing then pay it back and reduce our debt but don’t run a shill game on the American public.
Stealing from Peter to pay Paul is a long hallowed way of doing business in Washington but this one stinks. Fund the jobs bill from its own capital base and don’t borrow from one fund to make your program go. The pea and shell game of this transparent administration shows them to be amateurs and hacks.
Sure we need jobs; there are 15 million people out of work and many are taking part time jobs to make ends meet so create jobs, if you will, but raising the national debt is an irresponsible way to do it. The only way to pay such a bill back is higher taxes for those who are working now and those who will get jobs from this bill.
America needs to wake up and smell the coffee on these rubes that are running the store.
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