Boondoggle

    Obama’s Budget: $4 trillion in spending, a $1.75 trillion deficit, and another $750 billion bank bailout

    By: Dan Spencer (Diary)  |  February 26th at 07:47 AM  | 

    President Obama’s national debt busting first budget projects a $1.75 trillion deficit so Obama can spend nearly $4 trillion in fiscal year 2010 and “creates space” for another $750 billion bank bailout. The White House will formally release Obama’s budget boondoggle overview at 11:00 a.m., but at FoxNews, Major Garrett provides a preview: Senior administration officials would not disclose a precise figure for the entire | Read More »

    Obama throws transparency under the bus

    By: Dan Spencer (Diary)  |  February 16th at 06:24 AM  | 

    With the so-called “stimulus” bill, President Obama has thrown the change he promised under the bus. On his Change.gov website, Obama promised to “end the practice of writing legislation behind closed doors” – to “restore the American people’s trust in their government by making government more open and transparent. Obama will work to reform congressional rules to require all legislative sessions, including committee mark-ups and | Read More »

    Obama the deficit hawk

    By: Dan Spencer (Diary)  |  February 14th at 12:30 PM  | 

    “We are not going to be able to perpetually finance the levels of debt that the federal government is currently carrying.” — President Obama, February 12, 2009 That was yesterday, before the Congressional Democrats and three Senate Republicans gave President Obama his national debt-busting $787 billion bailout boondoggle, which will actually cost $3.27 trillion. Now, with his so-called “stimulus” in hand, Obama will morph into | Read More »

    Senator Kennedy not available for Obama bailout vote

    By: Dan Spencer (Diary)  |  February 12th at 05:18 PM  | 

    The Boston Globe reports Senator Edward Kennedy is going back to Florida, where he has been resting after suffering a seizure on Inauguration Day, Kennedy’s absence has Senate Democrat leader Reid seeking another moderate Republican or two to vote for the compromise version of the stimulus on Friday: With Kennedy’s vote and those of three Republicans, the Senate passed the plan with 61 votes — | Read More »

    Obama’s bailout to cost $3.27 trillion

    By: Dan Spencer (Diary)  |  February 12th at 01:36 PM  | 

    The Heritage Foundation reports that the true cost of the so-called “stimulus” is going to be $3.27 trillion. That’s right, President Obama’s bloated bailout boondoggle is going to cost four times the already outrageously expensive $789 trillion Senator Susan Collins finds “fiscally responsible.” Here’s the skinny from Heritage:

    Obama’s bailout boondoggle another step closer

    By: Dan Spencer (Diary)  |  February 12th at 06:53 AM  | 

    Now that President Obama, the House and Senate Democrat leadership, and three Republicans have agreed upon the parameters of Obama’s now $789 billion bailout, unelected Democrat staffers, in total secrecy, will write the biggest spending bill in the country’s history in total secrecy. Today or tomorrow, Congress will vote blind, without having anything like a reasonable amount of time to read, let alone sufficient time | Read More »

    Obama’s thrill is gone

    By: Dan Spencer (Diary)  |  February 10th at 09:10 PM  | 

    Like Jeff Emanuel, I was shocked by President Obama’s “sub-prime” performance in his first prime time press conference. Obama wasn’t the laid-back, inspirational orator for which he was dubbed the One. No, last night, Obama came across as angry and arrogant. His campaign of hope for change has somehow morphed into a governance of doom and gloom. Jeff and I are not alone in perceiving | Read More »

    Spending money that we don’t have for projects that we don’t have to have

    By: Dan Spencer (Diary)  |  January 8th at 09:48 AM  | 

    Republicans push back against turning a stimulus package into a bloated boondoggle. Republican Senators spent the day at a retreat at the Library of Congress with three distinguished economists–Martin Feldstein, Larry Lindsey, and Peter Wallison–talking about how to get the economy going. At the conclusion of the retreat Senators McConnell and Alexander spoke about what an economic stimulus ought to contain: Senator Alexander: We — | Read More »