“If we’re going to keep giving somebody like me or some of the people in this room tax breaks that we don’t need and we can’t afford, then one of two things happens: Either you’ve got to borrow more money to pay down a deeper deficit, or … you’ve got to tell seniors to pay a little bit more for their Medicare. You’ve got to tell the college student, ‘We’re going to have to charge you higher interest rates on your student loan.’ … That’s not right.”
There’s so much that’s not right about that statement, but, in honor of Income Redistribution Day, here are a few things government “invests” in that are so crucial that Obama “can’t afford” to let you keep your money. We already have to work until April 17 just to pay for the cost of government, which just happens to be the same day returns are due, but Obama needs more of our money for these special things.
Solar Trust of America, a solar energy company in California, was unable to meet its payment obligations for another Energy Department “green energy” loan, and instead filed for bankruptcy, leaving $2.1 billion for taxpayers to cover. Solyndra, of course, has been the administration’s poster child, but this failed energy policy seems to lead, every week, to a new bankruptcy for an alternative energy producer on the federal dole. Undeterred, the administration announced that there is even more “green loan” money to be had.
According to Yahoo News, “American taxpayers own close to 200,000 vacant houses, and over the next year they will spend more than $40 million just to mow lawns at these properties. Taxpayers also foot the bills to paint walls, fix cabinets, plant flowers and more — expenses that just last year, exceeded a half a billion dollars. … [N]ow Americans are spending hundreds of millions more fixing up foreclosed homes to try and sell them.” And here you thought all those home improvement projects were going to have to wait for a better economy.
In 2002, Rep. Emanuel Cleaver (D-MO) bought a carwash for $1.3 million, but he has missed a few payments and now owes $1.5 million on the property including unpaid interest and late fees. However, because the Small Business Administration (SBA) backed the loan, if it goes bad now, taxpayers will get to cover $1.1 million of that debt. Anybody need a car wash on the way to the home improvement store?
Finally, speaking of waste, the Obama administration committed $5 million to a project building a “biogas anaerobic digester,” which will use cow manure to heat an ethanol plant. The project will create 15 permanent jobs, thereby overwhelming the job market with manure.
We have barely scratched the surface. While the government wastes our money by the trillions, it’s never enough for Obama and Company. Meanwhile, often overlooked is the fact that all Congress has to do is nothing for a $500 billion tax hike to hit every taxpayer on Jan. 1, 2013. All this may be why Income Redistribution Day yields a far higher rate of car accidents.
The Patriot Post