Skip to comments.The strange budget priorities of Obama: Subsidizing car purchases for the 1% over poor children
Posted on 02/16/2012 8:41:42 AM PST by chessplayer
In my column for The Fiscal Times today, I remind readers that budgets are statements of priorities. Barack Obamas budget shows his priorities on many levels, both at the macro and micro level. Given the large amount of new spending and higher taxes, its very easy to conclude at the macro level that Obama doesnt think that spending reductions are a priority at all. How about on the micro level? Changes to three different programs give an even clearer indication of Obamas priorities:
"One is to the D.C. Opportunity Scholarship Program that helps poor children opt out of failing public schools in the nations capital. In 2011, Republicans in Congress fought to restore funding to the voucher program after Obama cut it in his FY2010 budget, and they managed to restore those funds for five years in the FY2012 compromise package."
"Now, Obama has removed the entire $13 million for this program in his FY2013 budget proposal, a move that his union supporters in the National Education Association will cheer, but which will create despair among parents whose children will once again be denied access to school choice in Washington D.C."
"Obamas red line has also cut the Federal Flight Deck Officer Program in half, reducing its funding from an FY2012 level of $25 million to just $12 million in FY2013. At the same time, the budget reduces the federal Air Marshal budget by 4 percent, a reduction of $36.5 million. FFDO trains and provides continuous certification for commercial pilots to arm themselves in the cockpit, and air marshals provide plainclothes security to intervene in any security emergency."
"The cost savings from pushing poor kids out of the voucher program and making commercial flight less safe together add up to about $63 million. On the other side of the ledger: taxpayer subsidies for buying Chevy Volts."
"Obama proposes to boost the subsidy to $10,000 per car and projects at least 10,000 units sold in FY2013, which would be a new cost of $100 million in that year alone just from the taxpayer-funded rebates at the point of sale, far outstripping what was saved by eliminating the DC voucher program and cutting effective airline security."
"Who gets these subsidies? According to GMs CEO Dan Akerson, the average annual salary for a Volt buyer is $170,000 per year. That is about the average income for a BMW owner, about $40,000 a year higher than the average Cadillac buyer, and about $30,000 more than the average Lexus driver. Only a high-income earner could afford to take the financial risk of owning an electric vehicle that will have zero resale value when the batteries fail in five to eight years."
At least Jimmah Carter sent Amy to public school. Zero’s ‘blackness’ doesn’t extend far enough to send his daughters where all the black kids in DC go to school, hypocrite that he is.
I’m waiting for the 1% hating media to come down on him for subsidizing car purchases for the 1 percenters.
Even if they gave away the Chevy Volt, no one wants it.