READY TO PAY FOR GOVERNMENT WASTE? $11 Trillion in Bailouts. Billions in Bribes.
Posted by FactReal on April 21, 2009
THIS IS HOW $11 TRILLION DOLLARS LOOK LIKE….$11 TRILLION IN BAILOUTS SO FAR….
What is Pork? Earmark? At the end it’s bribery: Lawmakers insert an expenditure into a bill to direct “chunks of the federal budget back to their home districts” to a specific project or recipient “to promote their own re-elections and reward special interests.”
WASTE IN OMNIBUS BILL (Bill # HR1105)
$6.6 Million for termite research
$819,000 for catfish genetics
$469,000 for Fruit Fly
$380,600 for Carbon Neutral Green Campus
$250,000 for Lobsters
WASTE IN STIMULUS BILL: (Bill # HR1)
$21 Million for sod
$200 Million for the National Mall
$600 Million for new cars for the federal government
$650 Million for digital TV coupons
$ 50 Million in funding for the National Endowment of the Arts
$ 44 Million for repairs to U.S. Dept. of Agriculture headquarters
$ 75 Million for smoking cessation
|FDR’S SPENDING WAS A RAW DEAL|
2009 GOVERNMENT WASTE REPORT (from Citizens Against Government Spending)
The 2009 Pig Book found 10,160 projects at a cost of $19.6 billion
● The outrage of millions of taxpayers following the $700 billion bank bailout and the $787 billion stimulus bill did not stop Congress from passing and President Obama from signing a bloated $410 billion Omnibus Appropriations Act in March.
● With the subsequent approval of the President’s budget, the national debt will triple over the next 10 years.
OBAMA’S BUDGET PROPOSAL for fiscal year 2010
Obama’s budget will waste taxpayer money:
GOVERNMENT SPENDING DOES NOT STIMULATE
NEGATIVE IMPACT OF OBAMA’S BUDGET
(Ronald Reagan left office with the national debt at 42% of GDP).
(Under George Bush, the federal deficit for 2008 was 3.2% of GDP.
The deficit for fiscal year 2007, in the last budget adopted when Congress was controlled by Republican majorities, was $162 billion, or 1.2% of GDP.)
#7. Includes $1 trillion in tax increases on the upper 5% of income earners, mostly tax rate increases. But the top 5% of income earners (those making over $145,283) already pays 60% of all income taxes.
Bottom 50% of income earners pay about 3% of the national income taxes.
#8. Projects that revenues from the corporate income tax will more than double in 3 years, increasing by more than 124%.
CAR BAILOUT – WHY AUTOMAKERS FAILED
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