President Obama will only propose $775 million in spending cuts, but he’s calling for “investing” $53 billion (yes, with a b) on high speed rail.
The Daily Caller reported:
President Barack Obama is calling for a six-year, $53 billion spending plan for high-speed rail, as he seeks to use infrastructure spending to jumpstart job creation.
An initial $8 billion in spending will be part of the budget plan Obama is set to release Monday. If Congress approves the plan, the money would go toward developing or improving trains that travel up to 250 miles per hour, and connecting existing rail lines to new projects. The White House wouldn’t say where the money for the rest of the program would come from, though it’s likely Obama would seek funding in future budgets or transportation bills.
Unfortunately, at least a few Republicans appear willing to go along with Obama’s high speed rail boondoggle.
They spent almost a trillion dollars with the failed stimulus program and failed to create any jobs. It killed jobs. But we’re supposed to believe $53 billion on trains is going to create jobs?
Here’s the Obama deficit chart in case you missed it.
We can’t afford this!
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IMO: Big Ears needs an intervention.
We have no $$$ but he wants to spend even MORE?
Sadly, nothing will change until the MSM gets off their knees.
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The Infrastructure Myth must die before it bankrupts us.
The US has the world’s most flexible and competitive infrastructure. Yet the Keynesian mind slaves in Washington are convinced that the US Government needs to go into even more debt (and thus shrink the availability of capital to the private sector) to build “Infrastructure”. The theory is that massive spending creates demand as workers spend their wages and in the process we emerge with a much more competitive infrastructure.
With high speed rail? What a joke – France subsidizes its very sexy, very fun to ride yet profanely wasteful high speed rail system with billions of Euros a year. What competitive advantage does that give them? Let me ask it another way – when was the last time you bought a product that says “made in France” on it?
High speed rail is expensive luxury transport for the elite subsidized with taxes and debt load on the backs of people of modest means.
A shameful enterprise demanded by high income progressives because they are envious of what high income progressives in Europe get to ride around on.
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