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God Save The Republic 06 September 2010

Forget The Chest Waders

Once again, a whole week goes by and there's hardly any news coming out of DC. Then along comes a holiday and bada bing... The Big Zero speaks.

According to MSNBC.com, Zippy proposes a massive "rebuilding program" that will include 150,000 miles of roads, 4,000 miles of railways and 150 miles of airport runways, costing at least $50 billion. However, a little deeper into the story, the wording is changed to "officials said spending would be front loaded with an initial fifty billion dollars to help create jobs in the future." I suppose it's also worthy of mention that the official spoke on condition of anonymity, ahead of His Nadaness' announcement.

Now, Zero has this bright idea to create a permanent infrastructure bank that would focus on funding national and regional infrastructure projects. Officials wouldn't say what the total cost of the infrastructure investments would be, but did say the initial fifty billion dollars represents a significant percentage. These officials said the White House would consider closing a number of special tax breaks for oil and gas companies to pay for the proposal.

Other stimulus measures the administration is considering include extending a law passed in March that exempts companies that hire unemployed workers from paying social security taxes on those workers through December.

Let's look at this steamy pile for a minute.

First, it's a little unclear as to whether the rebuilding project is going to cost fifty billion in total, or if that just the opening salvo, with plenty more to follow.

Second, considering there are millions of Americans out of work RIGHT NOW, how far into the future before those jobs are available and how far down the road will the jobs last? I think it reasonable to consider; those construction jobs are generally performed by UNION workers. Union workers are covered by the "seniority rules" by-law where senior members always have first consideration over all others, including new hires. I have to wonder how many new hires will even have a chance at getting one of these jobs.

Third, the creation of an "infrastructures bank" to fund these projects scares the hell out of me. I not only have a clue who will run the bank, I also have a clear idea where the funds will go and who will wind up funding the funds bank.

Fourth, some folks may feel justice will be served when those multi billion dollar gas and oil companies lose their tax breaks. They will continue to make their billions; by laying off workers and charging HIGHER PRICES to consumers. There is no justice... only consequences. "Gas and oil prices will necessarily skyrocket."

Fifth, social security is broke. How does exempting companies from paying those taxes, even for just a few months, help to rebuild social security?

Sixth, it is noteworthy that this "leaked" information comes so close to the November elections.

Folks, forget the chest waders. To avoid contamination from this political BS fairy tale, we're going to need full body condoms.

Posted by MikeH. at 11:34