Stimulus Spending: A Losing Bet
Posted by Van Helsing at 8:05 AM | Comments (1)
Where did all the $zillions of pork barrel "stimulus" loot go? Obviously not into creating jobs; that's accomplished by cutting taxes, not by wasting mountains of money, thereby forcing them to be raised. The cash went down absurd moonbat rat holes and into the pockets of crony capitalists and other assorted friends of our rulers. Here's an example:
With the support of Sen. Chris Dodd, D.-Conn., the federal government has awarded $54 million to Connecticut's politically well-connected Mohegan Indian tribe, which operates one of the highest grossing casinos in the U.S.
The tribe runs the sprawling Mohegan Sun casino, halfway between New York City and Boston, which earned more than $1.3 billion in gross revenues in 2009. Each tribe member receives a cut of the profits, a number a tribal official said was "less than $30,000" per capita per year. The stimulus money is a loan from a U.S. Department of Agriculture rural development program that is meant to help communities of less than 20,000 people that have been "unable to obtain other credit at reasonable rates and terms and are unable to finance the proposed project from their own resources."
Liberal economics in a nutshell: the rich get richer, the poor are paid to stay poor, and everyone else gets their pockets turned inside out.
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