What may be the very best, most concise analysis of the Spending Boondoggle to date, by the incredible Dr. Thomas Sowell. A niblet:
Out of $355 billion newly appropriated, the Congressional Budget Office estimates that only $26 billion will be spent this fiscal year and only $110 billion by the end of 2010. Using long drawn-out processes to put money into circulation to meet an emergency is like mailing a letter to the fire department to tell them that your house is on fire.
If the Beltway politicians aren’t really trying to solve this crisis as quickly as they could, what are they trying to do? One important clue may be a recent statement by President Obama’s chief of staff, Rahm Emanuel, that “A crisis is a terrible thing to waste.”
This is the kind of cynical revelation that sometimes slips out, despite all the political pieties and spin. Crises have long been seen as great opportunities to expand the federal government’s power while the people are too scared to object and before any opposition can get organized.
Well worth the 5 minutes you’ll invest.