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porkulus Archive

Friday

13

August 2010

0

COMMENTS

Thursday

12

August 2010

0

COMMENTS

Friday

8

May 2009

0

COMMENTS

Federal Government Bullies California On Behalf Of Unions

Written by , Posted in Labor Unions

The union investment in Barack Obama continues to pay dividends:

The Obama administration is threatening to rescind billions of dollars in federal stimulus money if Gov. Arnold Schwarzenegger and state lawmakers do not restore wage cuts to unionized home healthcare workers approved in February as part of the budget.

Schwarzenegger’s office was advised this week by federal health officials that the wage reduction, which will save California $74 million, violates provisions of the American Recovery and Reinvestment Act. Failure to revoke the scheduled wage cut before it takes effect July 1 could cost California $6.8 billion in stimulus money, according to state officials.

This kind of federal government bullying against the states was entirely predictable, and is why many governors said “thanks, but no thanks” to federal dollars.  Gov. Schwarzenegger was not one of them.  In fact, he stabbed these principled conservatives in the back when he defended the porkulus and joked that if they didn’t want the money, he would take it for them.

Who’s laughing now, Arnold?

Thursday

19

March 2009

0

COMMENTS

Zimbabwe Comparison Was Appropriate

Written by , Posted in Economics & the Economy

When Mark Sanford compared Obama’s stimulus package to Zimbabwe’s banana republic, grievance-monger and House Majority Whip Jim Clyburn (D-victim) was up in arms, describing the comment as “beyond the pale.”  Why, he asked, did he pick Zimbabwe?

Now you know why, Mr. Clyburn:

The Federal Reserve yesterday escalated its massive campaign to stabilize the economy, saying it would flood the financial system with an additional $1.2 trillion.

The decision by the Fed to buy government bonds and mortgage-related securities is designed to lower borrowing costs for home mortgages and other types of loans, thereby stimulating economic activity. The central bank, effectively, will print more money to pay for the purchases.

Sound familiar?

Zimbabwe’s Leader Says He’ll Print More Cash

President Robert Mugabe has promised to print more money to fund municipal projects, a government newspaper reported Saturday. The pledge came despite hyperinflation that has created severe shortages of cornmeal, meat, milk and other staples.

So, how’s that working out for Zimbabwe?

Sunday

15

March 2009

0

COMMENTS

Friday

13

February 2009

0

COMMENTS