The 850 Billion Dollar Annenberg Challenge
Obama discussed a 700 billion dollar economic stimulus package. But, intimated that he would be okay with even more. Congress obliged by rolling Obama with a 850 billion spending spree. Here’s some of the details from Power Line. If such a package were going to build infrastructure, we’d at least have something to show for this spending blow-out. But, this money will line the pockets of favored groups and friends. And, will leave precious little to show in terms of actual accomplishments.
Or, should I say that 850 billion dollars will be pissed away and we will have only the inflation that will rack our economy, in about a year, as the only residual for this spending.
But, Obama has lots of experience in spending other people’s money and making sure that there is nothing to show. Or, at least nothing to show in upsetting the status quo. That experience was his co-chairing the Annenberg Challenge with his buddy Bill Ayers. He managed to oversee the disbursement of 100 million dollars without affecting the quality of public education in Chicago one whit. What he really did, the good Chicago machine foot soldier he was, was to spread 100 million dollars of graft to the friends of the Chicago machine.
So, what we have is a replay of the same graft distribution; just several orders of magnitude greater. There will be no leadership on Obama’s part. Just the distribution of graft and largess. Obama’s well practiced in that art.