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Sons Of Libery
5am - 6am
State officials across the country are warning citizens that federal highway funds will end if Congress doesn't approve more spending by the end of the month. Given the condition of some of the roads in this State, some around Little Rock are borderline impassable at normal highway speeds, I understand the concern this is generating. But I have some questions.
What did we get for the trillion dollar stimulus bill? What did we get for the 3 trillion in federal transportation spending they have spent since. And what might we have gotten, if the federal government would not have intervened in the State's prerogative to collect taxes with which to build roads?
Since the 2008 financial crisis, the Federal Reserve has created over four trillion new dollars which have made their way into the economy via six New York banks, who naturally skimmed off enough for thousands of multi-million dollar bonuses, salaries and not a few company jets. How much more good might it have done the economy not to have diluted our paychecks by 4 trillion dollars?
What have we gotten for the 22 trillion dollars they have spent fighting the war on poverty? And what might have happened to the economy and the poverty rate had anyone willing and legally entitled to work been allowed to take that 22 trillion dollars home to their families and decide for themselves how to spend it?
What have we gotten for the 3.5 trillion that EPA regulations have cost our economy over the last ten years? I can answer that one. Most of our manufacturing capability has moved to China, where by the way, they have been bringing a new coal fired power plant on line every week for almost as long as the EPA has been closing ours. So what we got for the government's war on CO2 is more global CO2 emissions and a country that can't make a drive shaft.
My last question is, what might we get if the American people were once again free to innovate, make and build things, and then spend what they earned in whatever way they saw fit? Might that encourage companies who want some of that money to spend their money trying to please their customers instead of paying lobbyists for a share of the new highway bill.
Before we let Congress appropriate more of our money on infrastructure, we should at least demand to know where the roads and bridges are that we already paid for. The fact is, the federal government is not very efficient at spending our tax dollars. Of the 478 billion dollars they are contemplating spending on infrastructure we will be lucky to see 72 billion actually reach a road or bridge.
May 15, 2015
Wind: 6 mph