Despite The Poor Track Record Of Their Stimulus ‘Investment’ Decisions, Dems Want To Spend Even More
PRESIDENT OBAMA, 2012: “…the payoffs on these public investments don’t always come right away. Some technologies don’t pan out; some companies fail. But I will not walk away…” (President Obama, State Of The Union, 1/24/12)
Democrat Research ‘Investments’
PRESIDENT OBAMA, 2011:“This is our generation’s Sputnik moment… to reach a level of research and development we haven’t seen since the height of the Space Race… We’ll invest in biomedical research,information technology…” (President Obama, State Of The Union Address, 1/25/11)
· RESEARCH ‘INVESTMENT’: $300K For “Mapping Radioactive Rabbit Feces” — “A government contractor at Hanford, in south-central Washington State, just spent a week mapping radioactive rabbit feces with detectors mounted on a helicopter flying 50 feet over the desert scrub. … the helicopter flights, which covered 13.7 square miles and were paid for with $300,000 in federal stimulus money…”(“Even Rabbit Droppings Count In Nuclear Cleanup,” The New York Times, 10/14/09)
· RESEARCH ‘INVESTMENT’: $219K To Study “The Sex Patterns Of College Women” — “Five hundred Syracuse University freshmen will divulge the details of their sex lives… received $219,000 in stimulus funds for the study, which looks at the sex patterns of college women.”(“SU Sex Study Raises Concern,” The [Syracuse] Daily Orange, 9/8/09)
· RESEARCH ‘INVESTMENT’: $325K To Study “The Mating Decisions” Of Female Cactus Bugs – “The cactus bug project at the University of Florida is more ambitious, spending $325,394 in stimulus money to determine how environment affects the mating decisions of females.” (“Stimulus Money And Weird Science: Benefit Or Boondoggle?” Sun Sentinel, 2/15/10)
Democrat Energy ‘Investments’
PRESIDENT OBAMA, 2010: “You can see the results of last year’s investments in clean energy…” (President Obama, State Of The Union Address, 1/27/10)
· ENERGY ‘INVESTMENT’:‘Solyndra Files For Bankruptcy, Lays Off 1,100 Workers’ “Solyndra was the recipient of a $500 million loan to create jobs in the United States at a time when 95 percent of solar panels were built overseas. It created 158 jobs, but those jobs and 1,000 more are now gone.” (Solyndra Files For Bankruptcy, Lays Off 1,100 Workers,” ABC’s KGO News, San Francisco, CA., 8/31/11)
· ENERGY ‘INVESTMENT’:EnerDel: “An Indiana-based energy-storage company that received a $118.5 million stimulus grant from the Energy Department filed for bankruptcy Thursday. … The Energy Department in 2009 approved a $118.5 million stimulus grant for EnerDel, a subsidiary of the company that develops lithium-ion batteries used in electric vehicles. The grant was part of a broader program aimed at promoting the development of electric-vehicle battery technology.” (“Obama-Backed Electric Car Battery-Maker Ener1 Files For Bankruptcy,” The Hill, 1/26/12)
· ENERGY ‘INVESTMENT’: A123: “To help compete with China, the Obama administration gave $249 million to A123. … In an ironic twist, A123 filed for bankruptcy. In the bankruptcy auction, a Chinese conglomerate, Wanxiang Group beat American company Johnson Controls to buy A123 for $257 million.” (“China Wins, U.S. Loses In A123 Bankruptcy,” Forbes, 12/12/12)
Democrat Infrastructure ‘Investments’
PRESIDENT OBAMA, 2009: “…we are remaking the American landscape with the largest new investment in our nation’s infrastructure…” (Remarks By The President And The Vice President At Signing Of The American Recovery And Reinvestment Act, 2/17/09)
· INFRASTRUCTURE ‘INVESTMENT’: $150K For A Bridge That ‘Doesn’t Go Anywhere’ And ‘Ends In A Sheer, 8-Foot Drop’ — “A historic stone arch bridge that received more than $150,000 in federal stimulus funds this year has fallen short of some people’s expectations — mainly because it doesn’t go anywhere. The bridge, which dates back to the 1860s, ends in a sheer, 8-foot drop after it crosses the Contoocook River. Traffic no longer crosses the span, which parallels a modern bridge near the intersection of Routes 202 and 149.” (“$150 Thousand For ‘Bridge To Nowhere,’”The Union Leader [NH], 8/12/10)
· INFRASTRUCTURE ‘INVESTMENT’: $520K For A Bridge ‘That Is Closed To Traffic’ — “The U.S. Department of Transportation has awarded Greene County a $520,000 federal grant to restore a historic covered bridge that is closed to traffic and carries few pedestrians in a lightly-traveled area of Xenia Twp. … The bridge carried traffic until 2003, but was a problem for emergency vehicles, which had to detour around it. That year, the county built a $650,000 modern concrete bridge 100 feet downstream and moved Stevenson Road there, stranding the old bridge. On a recent visit to the bridge, No Trespassing signs warned people away from the east entrance.” (“Unused Bridge Gets $500k Federal Grant,” Dayton Daily News, 8/19/12)
· INFRASTRUCTURE ‘INVESTMENT’:$50K To Repair ‘Cracks’ In Tennis Court — DAVID MATTINGLY, CNN: “I came to Bozeman [MT] to find a city on thin ice over how it’s spending stimulus money — $50,000 to erase all of these cracks and potholes in city tennis court. … Montana Governor Brian Schweitzer wants to make Bozeman an example of how not to spend stimulus money.” … GOV. BRIAN SCHWEITZER: “What they violated was that rule of common sense. There ought to be that little guy in your head that waves his finger at you and says, wait a minute, we might want to rethink this thing.” (CNN, 1/25/10)
Wealth is not Created at the Top: It is Only Devoured There
The UK has left the EU and we can argue about the minutiae of Wealth until we’re blue in the face. But the overriding factors are apparent and in one of the richest countries in the world it is shocking that so many people can’t even be sure if they are going to be able to eat enough today or provide for their loved ones.
These days, politicians from the left to the right assume that most wealth is created at the top. By the visionaries, by the job creators, and by the people who have “made it”. By the go-getters oozing talent and entrepreneurial-ism that are helping to advance the whole world – Opinion by Rutger Bregman
… across the spectrum virtually all agree that wealth is created primarily at the top and so entrenched is this assumption that it’s even embedded in our language. When economists talk about “productivity”, what they really mean is the size of your paycheck. And when we use terms like “welfare state”, “redistribution” and “solidarity”, we’re implicitly subscribing to the view that there are two strata: the makers and the takers, the producers and the couch potatoes, the hardworking citizens – and everybody else.
Bankers, pharmaceutical giants, Google, Facebook … a new breed of rentiers are at the very top of the pyramid and they’re sucking the rest of us dry
In reality, it is precisely the other way around. In reality, it is the waste collectors, the nurses, and the cleaners whose shoulders are supporting the apex of the pyramid. They are the true mechanism of social solidarity. Meanwhile, a growing share of those we hail as “successful” and “innovative” are earning their wealth at the expense of others. The people getting the biggest handouts are not down around the bottom, but at the very top. Yet their perilous dependence on others goes unseen. Almost no one talks about it. Even for politicians on the left, it’s a non-issue.
To understand why, we need to recognise that there are two ways of making money. The first is what most of us do: work. That means tapping into our knowledge and know-how (our “human capital” in economic terms) to create something new, whether that’s a takeout app, a wedding cake, a stylish updo, or a perfectly poured pint. To work is to create. Ergo, to work is to create new wealth.
But there is also a second way to make money. That’s the rentier way: by leveraging control over something that already exists, such as land, knowledge, or money, to increase your wealth. You produce nothing, yet profit nonetheless. By definition, the rentier makes his living at others’ expense, using his power to claim economic benefit.
But here comes the rub. Most rentiers are not as easily identified as the greedy banker or manager. Many are disguised. On the face of it, they look like industrious folks, because for part of the time they really are doing something worthwhile. Precisely that makes us overlook their massive rent-seeking…
The problems we face are that the politicians are firmly in the hands (pockets) of the uber wealthy. We live in a corporate plutocracy and those holding all the wealth and therefore power have no intention of changing the status quo, even if it isn’t sustainable. They remind me of bacteria (or cancer) devouring the host body more and more even though eventually it will kill them too.
Donald Trump Forgets Important Lesson From Grandad:
Harper’s Magazine reprints an interesting letter from US President Donald J. Trump’s own grandfather that may get you thinking. Here is it then:
The Emigrants – By Friedrich Trump – From a letter written in 1905 by Friedrich Trump, Donald Trump’s grandfather, to Luitpold, prince regent of Bavaria. Trump had been ordered to leave Bavaria for failing to complete mandatory military service and to register his initial emigration to the United States twenty years earlier.
Prince Luitpold rejected Trump’s request for repatriation; the family later settled in New York. Translated from the German by Austen Hinkley.
Most Serene, Most Powerful Prince Regent! Most Gracious Regent and Lord!
I was born in Kallstadt on March 14, 1869. My parents were honest, plain, pious vineyard workers. They strictly held me to everything good — to diligence and piety, to regular attendance in school and church, to absolute obedience toward the high authority.
After my confirmation, in 1882, I apprenticed to become a barber. I emigrated in 1885, in my sixteenth year. In America I carried on my business with diligence, discretion, and prudence. God’s blessing was with me, and I became rich. I obtained American citizenship in 1892. In 1902 I met my current wife. Sadly, she could not tolerate the climate in New York, and I went with my dear family back to Kallstadt.
The town was glad to have received a capable and productive citizen. My old mother was happy to see her son, her dear daughter-in-law, and her granddaughter around her; she knows now that I will take care of her in her old age.
But we were confronted all at once, as if by a lightning strike from fair skies, with the news that the High Royal State Ministry had decided that we must leave our residence in the Kingdom of Bavaria. We were paralyzed with fright; our happy family life was tarnished. My wife has been overcome by anxiety, and my lovely child has become sick.
Why should we be deported? This is very, very hard for a family. What will our fellow citizens think if honest subjects are faced with such a decree — not to mention the great material losses it would incur. I would like to become a Bavarian citizen again.
In this urgent situation I have no other recourse than to turn to our adored, noble, wise, and just sovereign lord, our exalted ruler His Royal Highness, highest of all, who has already dried so many tears, who has ruled so beneficially and justly and wisely and softly and is warmly and deeply loved, with the most humble request that the highest of all will himself in mercy deign to allow the applicant to stay in the most gracious Kingdom of Bavaria.
Your most humble and obedient,
… Well then. Long ago, yes.. Still applies? You tell me.
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