As a person is going bankrupt, they eventually come to the tough realization that they cannot afford what they need – the credit cards are maxed, the bank won’t loan any more money, and the creditors are calling. At this point, the person tries to avoid the inevitable. They stop spending and cut back on the necessities.
But alas, it’s too late. They declare bankruptcy.
It looks like this has happened with the government.
Obama’s jobs bill has been stalled in the Senate Budget Committee by the Republicans and the Democratic Chairman Kent Conrad. This is because the bill called for using remaining bank bailout cash to fund the jobs bill.
That’s right folks, Senator Kent Conrad has shown a rare moment of financial restraint. Using the bailout funds would add $80 billion to the already $13 trillion national debt.
Now, why would the democrat in charge of the budget stall a jobs bill in an election year?
Public opinion polls show that people demand action on jobs. Since being elected, the only jobs related legislation signed into law has been the stimulus – which has been a failure and is incredibly unpopular.
The democrats need a jobs bill (even if it doesn’t work) so that they can claim that they are doing something about the economy. Otherwise, they are (even more) doomed in the polls this November.
Yet, Senator Kent Conrad sees the writing on the wall. The democrat’s taxpayer funded spending spree has gone so far that they can no longer afford the one bill that may keep some of them in office.
Let’s think about this.
Every progressive agenda item was an absolute necessity immediately. We could afford every progressive priority.
Senator Kent Conrad and his democratic cronies believe that the jobs bill will work.
But America can’t afford the jobs bill.
There are only two possibilities for why Kent Conrad actually did this:
- He’s realized that the democratic agenda is bankrupting the country and has stopped this bill in a last ditch effort to stave off economic ruin.
- The democrats are creating a class of government dependents. Already, nearly 50% of Americans do not pay income taxes. If the democrats create a class of people who are dependent on their social programs for money, this class of people will always vote for the democrats so that they expand these entitlements. The democrats believe that if this bill doesn’t pass, more people will lose their jobs and this class of government dependents will expand.
You decide – but either way, it’s not pretty.
This is pathetic. Nothing ceases to amaze me now about what the left tries to accomplishh
Where are you getting these numbers from out of curiosity?
I’ll list a couple sources – I didn’t use these articles specifically, but they all corroborate the numbers:
This Yahoo! News Article mentions the $80 billion bill and $12.8 billion debt: http://news.yahoo.com/s/ap/20100411/ap_on_bi_ge/us_congress_jobs
Now, $12.8 trillion was rounded to $13 trillion not only for simplicity but because the current debt trajectory already has the debt moving above $13 billion (unavoidably) by the end of 2010 (a CNN article): http://money.cnn.com/2010/03/01/news/economy/budget_debt/
Nearly 50% of Americans do not pay income taxes (another Yahoo! news article): http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0&.v=1
Let me know if you have any other questions about the sources on this or any other article.
Thanks for reading.