The U.S. economy has gone from bad to worse to worst over the past year. The current unemployment rate of 7.2 percent is the highest in 15 years, with more layoffs likely. Major companies have declared bankruptcy, while others teeter on the brink. Outgoing President George W. Bush opposed all but the barest economic stimulus measures, leaving the new Obama administration and 111th Congress to clean up the mess.That's from the woefully misnamed Center for American Progress, where nobody is sufficiently curious to ask: Does "clean energy" have some special economic value?
Thankfully, the days of inertia and inaction are over. As President-elect Barack Obama prepares to ascend to the nation’s highest office, he travels today to Bedford Heights, Ohio. There he will visit a wind turbine factory to urge Congress to promptly enact an $850 billion economic stimulus and recovery plan, which includes an unprecedented $77 billion for clean energy programs.
I mean, suppose that the same $77 billion were spent on -- oh, I don't know -- let's say, health care. Why is the provision of health care less worthy of $77 billion in taxpayer dollars than the development of "clean energy"?
At least we know that there is an actual market demand for health care, whereas "clean energy" is so inherently inefficient that nobody will pay what it costs to produce. If it weren't for government subsidies and mandates, we wouldn't be putting ethanol in our gas or building wind farms.
No, it's not enough that idiot liberals want to pour out $850 billion in money we don't have in order to try a neo-Keynesian solution to a financial problem that can't possibly be fixed by such interventionist "pump priming." (It won't work!) The Center for American Progress is excitedly celebrating the fact that nearly a tenth of the "stimulus" package will be spent on the most economically inefficient uses imaginable.
Maybe for $77 billion dollars, some of these idiots could buy what they really need: A clue.
Oh, look! Yet another uneconomic stimulus: More money for mass transit projects that will never recoup their costs and require constant additional injections of taxpayer funds merely to meet operation and maintenance costs.
Ron Paul speaks economic truth to idiotic power:
We are at an economic dead-end and those in power are in denial. The truth is our economic problems are due to loose monetary policy, central economic planning, and the parasitic expenses of government. Unless we assess these problems honestly, we unfortunately have a long way to go until, like the junkie, we hit rock bottom.Weimar America, here we come!