Congress Still Partying Like It's 2008

Aug. 11, 2010 - PRLog -- Despite the demonstrable failure of all the Democrats' stimulus measures so far, they are still stuck in the bailout mentality. Nancy Pelosi has called the House back into session to vote on a $26 billion bailout of the teachers' unions. In addition to all of the additional costs imposed on the America people that by calling the House back into session in the middle of its August recess, there's the nature of the bill itself. It is yet another unfunded bailout of yet another Democrat constituency. Everything about this bill is wasteful, from the extra money paid out for the Congress' last minute plane tickets to the indiscriminate spending of money that this bill encourages.

Stimulus spending simply doesn't work and a whole slew of recent economic data proves the point. GDP growth for the second quarter of this year will likely be revised to an anemic 1%, which is not enough to keep up with population growth. If this trend continues, the high standard of living that the American people are used to will gradually fall off, as population growth exceeds economic growth.

There's also an interesting little datum coming out of California. Apparently, the aggregate state income (or the sum of all the incomes of everyone living in California) fell by about $40 billion last year. This is the first time that California has seen a drop in income since the Second World War, over 60 years ago. This is significant because if there's any state in the Union that exemplifies Democrat economic policies and the bailout mentality, it's California. They've spent their economy right into the ground. California is a mere microcosm of what will happen to this country if there is not a significant change of heart in Washington.

But does this discourage our Fearless Leader? Of course not! Obama just recently announced a $3 billion bailout of distressed mortgage holders. We have now moved from Too Big to Fail to Too Small to Fail. Not to mention that the enabling of delinquent homeowners was what caused this recession in the first place. But no matter. Our President is not one to allow facts to get in the way of policy.

Read more at http://www.marcseelinger.com!

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