Posted on 07/01/2009 4:52:35 AM PDT by Oldeconomybuyer
It's remarkable what Congress can do when money is no object, as the House Committee on Transportation and Infrastructure demonstrated when it put out a blueprint for a reauthorization bill to govern the nation's spending on transportation. It's a cornucopia of goodies that's getting strong reviews from interest groups, mainly because it gives them nearly everything they've been asking for: Environmentalists get a new bureaucracy to encourage green projects, public transit agencies get a big influx of cash, high-speed rail enthusiasts get new trains, and states get billions in additional money to build and improve roads, bridges and highways.
There's just one small detail that has been left out -- so far, the committee hasn't identified a way to pay for any of this. And the price tag is breathtaking: $500 billion over six years, a 53% hike over federal transportation spending in the previous six.
We'll reserve judgment until we see the committee's funding proposal. But it takes a lot of chutzpah to propose such a huge spending increase in the midst of an economic depression, after the country has racked up nearly $800 billion in stimulus spending and is considering a healthcare plan estimated to cost north of $1 trillion over 10 years. For now, this bill may be a bridge too far.
(Excerpt) Read more at latimes.com ...
Now the LA times is critisizing liberal policies? The world really is spinning off it’s axis.
It’s only money, and it’s not like anybody - ANYBODY - intends to ever control, reduce, or pay off the national debt. Why charge any tax at all?
It only makes sense if they plan to effectively default on the borrowed money. Max out the cards, we ain’t payin’ anyway! Expect to wake up to new global currency some morning and your dollars’ worth a fraction of what they were when you went to sleep. And if you have any gold, prepare to turn it in. We’ve seen this movie before.
The LA Times sounds jealous, because only Kally-Fornea is allowed to budget like that...
The LAT is making a last desperate attempt to resemble a newspaper, but it’s leftist agenda is beyond being denied at this point.
The Times is criticizing congress for not hiking the gas tax to pay for this crap.
Nothing new here.
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