The U.S. federal deficit in 2008 (G.W. Bush’s last year in office) was $407 billion (see
Bush's Last Deficit). This includes substantial spending ($246 billion) to stop our slide into recession. This year, 2011, the federal deficit is projected at $1.65 trillion … over four times as large! And this year’s deficit does not include the 2009's Stimulus Bill spending, is after the 2008/2009 TARP spending, and includes the spending wind-down on the IRAQ war. The question is why?
I think the unfortunate answer is that the Obama administration has done lots of squirrely things … often extra-legal things that throw government (read “taxpayer”) money at favored groups who, most often turn around and help fill the DNC’s coffers (a sophisticated form of money laundering.) Shall we use here that favored liberal pejorative, "corporate welfare"? (See:
Obama's Corporate Welfare) The Democrats have, for decades, decried this supposed corporate favoritism by Republicans. Yet, when they control things, it’s as though the elephant has suddenly morphed into a donkey … only this time it’s not just corporations but now most unions are added to the line of those with their hands out.
Why is it that so little of this payola makes it into most newspaper's front page … or the broadcast network's evening news? Because of this sickening yet predictable media oversight, I will attempt to here list a few of these payoffs that have recently bloated or will bloat our federal spending, devalue the U.S. dollar, and threaten this country with eventual bankruptcy.
$4 billion in current General Motors’ tax breaks: See,
GM Tax Breaks
$27+ billion in UAW pension fund bail out: See,
UAW Pension Bailout.
Zilch in 2010 federal taxes paid by GE: See,
General Electric Largess
$500 million Obama gift to "community organizers": See
Get Out The Vote Money
Multi-multi-billion dollars of foreign bank bailouts: See,
Bernanke's Secret
$363 billion in the Fannie/Freddie honey pot: See,
Fannie/Freddie Bailouts
Over 1000 Obamacare waivers to companies and unions: See,
Obamacare Wavers
$3.27 trillion = the true cost of the “job stimulus” program: See,
Job Stimulus Spending
At least $5.5 billion in “green” subsidies: See,
Better Building Initiative
$180 billion of new corporate tax breaks: See,
Corporate Tax Breaks
$5 billion of early-retirement health care subsidies under Obamacare: See,
Obamacare Subsidies
$53 billion of high-speed rail subsidies: See,
High-Speed Rail Subsidies
etc., etc.
If you are not now sick to your stomach, you have not clicked on enough of the above links. Is it any wonder that Obama expects to raise one billion dollars for his re-election campaign in 2012? Certainly not ... in fact, I believe he will easily surpass that number ... and buy himself another 4 years of White House festivities, family vacations ... and money laundering.
